The Estée Lauder Companies Inc. (NYSE: EL) reported better-than-expected earnings for its first quarter.
The company reported a first-quarter FY24 sales decline of 10% year-on-year to $3.518 billion, missing the analyst consensus estimate of $3.529 billion. Adjusted EPS of $0.11 beat the consensus estimate of $(0.20).
Estee Lauder said it sees FY24 adjusted EPS of $2.17-$2.42 ($3.50 - $3.75 prior), against the consensus of $3.62. EL sees FY24 reported sales to be between a 2% decline - 1% increase (prior view: increase of 5%-7%).
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