Estee Lauder's Profit And Sales Rise, Beat Expectations

By Tomi Kilgore Markets MarketWatch Pulse

Estee Lauder Companies reported fiscal third-quarter net earnings that rose to $298 million, or 80 cents a share, from $265 million, or 71 cents a share, in the same period a year ago. Excluding non-recurring items, such as restructuring charges, adjusted earnings per share came to 91 cents, beating the FactSet consensus of 73 cents. Revenue increased 8% to $2.86 billion from $2.66 billion, above the FactSet consensus of $2.81 billion, as fragrance and makeup sales beat expectations while skin care sales were in line. Looking ahead, the company expects fiscal 2017 sales to rise 4% to 5% from a year ago, while the FactSet consensus of $11.72 billion implies 4.1% growth. The stock, which was indicated up over 2% in premarket trade, has rallied 14% year to date through Tuesday while the S&P 500 has gained 6.8%.

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