EL Q1 net sales $3.93B (-11% YoY); EPS $1.35; cuts FY2023 outlook

ESTEE LAUDER COMPANIES INC

2023-Q1 EPS reported $1.35 revenue$3,930,000,000

Q1 net sales $3.93B (-11% YoY); diluted EPS $1.35 (-28%); adjusted EPS $1.37 (-28% in constant currency).
Organic net sales down 5%, inline with forecast; fragrance (+18%) and hair care (+11%) led organic growth.
Quarterly dividend raised to $0.66/share (payable Dec 15, record Nov 30).
Q2 guidance: reported net sales down 19-17% YoY, organic down 11-9%; adjusted EPS down 54-50% constant currency.
FY2023 guidance lowered: reported net sales down 8-6%, organic flat to +2%; adjusted EPS down 21-19% constant currency.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ESTEE LAUDER COMPANIES INC reported fiscal quarter ended September 30, 2022 results: revenue $3.93 billion, net income $489 million, EPS $1.35. Guidance lowered.

Period: fiscal quarter ended September 30, 2022
Revenue: $3.93 billion
Net income: $489 million
EPS: $1.35
Guidance: lowered
Result: reported results

Exact text from the filing

The Estée Lauder Companies Inc. (NYSE: EL) today reported net sales of $3.93 billion for its first quarter ended September 30, 2022, a decline of 11% from $4.39 billion in the prior-year period, including negative impacts from foreign currency. Organic net sales fell 5%, in line with the Company’s expectations, despite pressures which intensified as the quarter progressed. COVID-19 restrictions in China presented a greater challenge than expected. Tourism to Hainan was largely curtailed, which led to strict inventory management by certain retailers in travel retail, and traffic in brick-and-mortar in the rest of China was limited. These greater pressures were offset by several markets in Asia/Pacific, as well as many emerging and developed markets in the west, which delivered strong organic net sales growth. Organic net sales in both fragrance and hair care grew double digits. The Company reported net earnings of $489 million, compared with net earnings of $692 million in the prior-yea

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

ESTEE LAUDER COMPANIES INC filing history →

Source: SEC EDGAR

accession 0001001250-22-000168

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.