=Estee Lauder (EL) reported earnings on Wed 2 Nov 2016 (b/o)

Estee Lauder beats by $0.04, reports revs in-line; guides Q2 EPS below consensus; guides FY17 EPS below consensus :

• Reports Q1 (Sep) earnings of $0.84 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.80; revenues rose 1.1% year/year to $2.87 bln vs the $2.89 bln Capital IQ Consensus.
• Co issues downside guidance for Q2, sees EPS of $1.10-1.15 vs. $1.31 Capital IQ Consensus Estimate. The approximate 2% negative currency impact on the sales growth equates to about $.05 of earnings per share. Net sales are forecasted to increase between 3% and 4% versus the prior-year period (consensus is for +6.4%).
• Co issues downside guidance for FY17, sees EPS of $3.38-3.44 vs. $3.47 Capital IQ Consensus Estimate.  The negative currency impact on the sales growth equates to about $.08 of earnings per share. Net sales are forecasted to increase between 6% and 7% versus the prior-year period (consensus +5.8%). On a constant currency basis, before charges associated with restructuring activities, diluted earnings per share are expected to increase between 8% and 10%.