The Estée Lauder Cos. (EL) Q3 2024 earnings are in: revenue increased 5 percent as demand returned in key countries.
company, which has been struggling amid slower demand in Asia and at home, beat Wall Street forecasts on the top and bottom lines in the third quarter of its fiscal 2024 and lifted its annual profit outlook.
At the same time, the group raised its diluted net earnings per common share outlook for the whole year to be between $2.14 and $2.24, up from its previous estimate of between $2.08 and $2.23. Fabrizio Freda, president and chief executive officer of the Estée Lauder Cos., said, “With our third quarter results and fourth quarter outlook, we are confident that the second half of fiscal 2024 will prove to be an inflection point for our company performance. We expect accelerating momentum in organic sales growth in the fourth quarter, and for operating margin in the second half of fiscal 2024 to not only be stronger than the first half but also to expand from the year-ago period.
Elsewhere, makeup net sales increased 4 percent, fragrance net sales grew 1 percent and hair care net sales decreased 4 percent, primarily driven by Aveda reflecting softness in the company’s North America salon channel.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
2023 Top 100: From China to Cyberattacks, the Estée Lauder Cos. Loses SteamThe Estée Lauder Cos. is one of the top 100 beauty companies of 2023.
Lire la suite »
Estée Lauder Cos. creates AI Innovation Lab with MicrosoftThe U.S. beauty group is using cutting-edge technology to support more than 20 prestige brands across its portfolio.
Lire la suite »
Kiki, a Beauty Brand That Wants to Cocreate Products With Its Consumers, Has Gained Investment From The Estée Lauder Cos.’ Early Investment ArmAs well as Lauder's New Incubation Ventures, the round was also led by a16z crypto, part of Andreessen Horowitz.
Lire la suite »
It Was All About the Indies at the 2024 Fragrance Foundation Awards Finalist LuncheonIndie brands garnered as much spotlight as L'Oréal and The Estée Lauder Cos. at the 2024 Fragrance Foundation Awards Finalist Luncheon.
Lire la suite »
Inside the 2024 CEW Achiever AwardsAt the 2024 CEW Achiever Awards, the industry organization honored women from L'Oréal, the Estée Lauder Cos., Shiseido and Ulta Beauty, among others.
Lire la suite »
Trump’s 'Absolute' Immunity Case & Campus Protests Mark Inflection Point For U.S. ConstitutionThis is additional taxonomy that helps us with analytics
Lire la suite »