The Estée Lauder Companies Inc. (NYSE: EL) reported better-than-expected second-quarter financial results on Monday.
The company reported a sales decline of 7% Y/Y to $4.279 billion, beating the analyst consensus estimate of $4.194 billion. Estee Lauder’s operating income rose 3% Y/Y to $574 million, with the operating margin expanding to 13.4% from 12.0% the prior-year quarter.
Adjusted EPS of 88 cents beat the consensus estimate of 55 cents, according to data from Benzinga Pro.
The company also declared a quarterly dividend of 66 cents per share, payable on March 15, 2024, to stockholders of record at the close of business on February 29, 2024.
Estee Lauder revised its FY24 adjusted EPS outlook to ...