Skincare and cosmetics firm Estee Lauder saw upward action this morning on higher-than-expected earnings and revenue.
Today, Estée Lauder reported earnings of 64 cents per share excluding items, which beats the analyst estimate of 53 cents per share by a wide margin.
Likewise, net sales come in at $3.59 billion, higher than expectations of $3.53 billion.
Feedback From Within
“Fiscal 2019 was an outstanding year for our Company,” said Estée Lauder President and CEO Fabrizio Freda in an internal press release. “We achieved strong net sales gains across our business, fueled by investments in our strategic priorities, including improved data analytics that helped power our innovation and digital marketing. Our winning strategy led to continued share gains in global prestige beauty.”
Freda also noted double-digit growth in sales of the company’s La Mer product.
The Estée Lauder numbers are impressive against a backdrop of trouble on Manhattan streets, where many retailers have opted to close flagship stores and take a defensive position in the market.
Meanwhile, the new financial report for the quarter puts Estée Lauder up at all-time highs. The stock previously crested around $195 on July 26 before settling back down to lows of $175 on August 5.
Now, a jump from the quarterly report puts the stock up a solid 9% to just over $195 per share — that’s more than 25% above where the equity stood a year ago.
As drivers of new business, leadership cites sales in the Asia-Pacific region, including China, which increased 18%.
Projections from internal analysts suggest Estée Lauder will grow 7%–8% for the year.