Estee Lauder beats by $0.10, beats on revs; raises FY18 guidance
- Reports Q3 (Mar) earnings of $1.17 per share, excluding non-recurring items, $0.10 better thanthe Capital IQ Consensus of $1.07; revenues rose 18.0% year/year to $3.37 bln vs the $3.25 bln Capital IQ Consensus.
- Co issues raised guidancefor FY18, sees EPS of $4.38-4.42 from $4.27-4.32, excluding non-recurring items, vs. $4.38 Capital IQ Consensus Estimate; sees FY18 revs of +15-16% from +12.5-13.5% to ~$13.6-13.7 bln vs. $13.43 bln Capital IQ Consensus Estimate.
- Global prestige beauty is performing exceptionally well and is estimated to grow 6% to 7% during the fiscal year. The Company expects to grow about double the industry for fiscal 2018, benefiting from loyalty to its high-quality products, strong innovation, outreach to new target consumers and growth from recent acquisitions. The continued emphasis on a digital-first approach and on fast-growing markets and channels are also expected to contribute to growth.
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