Estée Lauder Q1 net sales -10%, EPS $0.09; lowers FY2024 guidance citing Asia travel headwinds

ESTEE LAUDER COMPANIES INC

2024-Q1 EPS reported $0.09 revenue$3,518,000,000

Net sales $3.52B (-10% YoY); diluted EPS $0.09 vs $1.35; adjusted EPS $0.11 vs $1.37.
Organic net sales declined 11% driven by Asia travel retail weakness and slower China recovery.
Lowering FY2024 outlook: reported net sales -2% to +1%, adjusted EPS $2.17-$2.42 (down ~33-25% constant currency).
Accelerating profit recovery plan; targeting $800M-$1B incremental operating profit for FY2025/2026.
Cybersecurity incident diluted Q1 EPS by $0.08; potential Israel/Middle East disruption adds $0.22 risk to FY2024 EPS.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ESTEE LAUDER COMPANIES INC reported first quarter ended September 30, 2023 results: revenue $3.52 billion, net income $31 million, EPS $.09. Guidance lowered.

Period: first quarter ended September 30, 2023
Revenue: $3.52 billion
Net income: $31 million
EPS: $.09
Guidance: lowered
Result: reported results

Exact text from the filing

The Estée Lauder Companies Inc. (NYSE: EL) today reported net sales of $3.52 billion for its first quarter ended September 30, 2023, a decline of 10% from $3.93 billion in the prior year.

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Source: SEC EDGAR

accession 0001001250-23-000175

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