Estee Lauder Beats Profit Expectations

Estee Lauder Companies reported fiscal fourth-quarter earnings that fell to $93.5 million, or 25 cents a share, from $153.0 million, or 40 cents a share, in the same period a year ago. Excluding non-recurring items, such as restructuring and other charges, the beauty products company reported adjusted earnings per share came in at 43 cents, beating the FactSet consensus of 40 cents. Revenue rose to $2.65 billion from $2.52 billion, just shy of the FactSet consensus of $2.66 billion, with all product categories, except fragrance, reporting increases. "We capitalized on shifting consumer preferences by leveraging our strength in makeup and positioning our company to win in luxury fragrances," said Chief Executive Fabrizio Freda. "Importantly, we achieved these results against a backdrop of social and political instability, currency volatility and economic challenges." The stock, which was still inactive in premarket trade, has climbed 8% year to date, while the S&P 500 has gained 7%.