LAUDER PROFITS MEET STREET ESTIMATES
NEW YORK — First-quarter profits for Estee Lauder Cos. met Wall Street’s estimates, though the firm said results for the second may fall slightly below the Street’s best guess.
Net earnings climbed 5.1 percent to $97.1 million, or 38 cents a diluted share, compared with $92.4 million, or 36 cents, a year ago. Last year’s period included a one-time after-tax charge of $2.2 million, or 1 cent share, without which profits would have risen 2.6 percent.
Shares of Lauder slipped 29 cents to end the day at $33.10 on the New York Stock Exchange Thursday.
Revenues for the quarter ended Sept. 30 inched up 0.8 percent to $1.19 billion from $1.18 billion a year-ago. On a constant currency basis, sales rose 3 percent.
Sales of makeup products gained 4 percent to $447.5 million, while skin care revenues fell slightly to $393.5 million and fragrance sales slid 3 percent to $291.3 million, on a reported basis.
Geographically, reported sales in the Americas retreated 2 percent to $765.4 million while Europe, the Mideast and Africa saw a 7 percent increase to $272.3 million. Sales for the Asia-Pacific business rose 8 percent to $150 million.
For the second quarter, Lauder is looking for earnings of 49 to 52 cents a share, slightly below analysts’ consensus of 53 cents.