Estée Lauder Boosts FY19 Earnings, Sales Growth Outlook - Quick Facts
(RTTNews) - While reporting financial results for the third quarter, Estée Lauder Cos. Inc. (EL) on Wednesday raised its full-year 2019 guidance for earnings and sales as it continues to see strength in several of its key engines of growth.
For fiscal 2019, the company raised its earnings guidance to a range of $4.72 to $4.79 per share from the prior range of $4.55 to $4.67 per share and adjusted earnings outlook to a range of $5.15 to $5.19 per share from the previous guidance range of $4.92 to $5.00 per share. Reported net sales are now forecast to increase between 7 and 8 percent, and forecast to grow between 10 and 11 percent on a constant currency basis, both above the Company's long-term growth goal of 6 to 8 percent.
The company previously projected reported net sales growth of 5 to 6 percent and constant currency net sales growth of 8 to 9 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.06 per share on sales growth of 6.5 percent to $14.57 billion for the year. Analysts' estimates typically exclude special items.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.