Estee Lauder posts 3Q profit, results beat Wall Street estimates

MarketsAssociated Press

NEW YORK (AP) — Estee Lauder Companies Inc. (EL) on Tuesday reported fiscal third-quarter earnings of $272.1 million.

On a per-share basis, the New York-based company said it had net income of 71 cents. Earnings, adjusted for non-recurring costs, came to 72 cents per share.

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The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.

The beauty products company posted revenue of $2.58 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $2.55 billion.

Estee Lauder expects full-year earnings in the range of $2.92 to $2.97 per share.

Estee Lauder shares have increased roughly 10 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 3 percent. The stock has risen 10 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EL at http://www.zacks.com/ap/EL

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Keywords: Estee Lauder, Earnings Report