Estee Lauder Companies Inc (NYSE:EL) shares are trading slightly lower after the company reported its fourth-quarter results.
The company reported sales growth of 7% Y/Y to $3.87 billion, beating the analyst consensus estimate of $3.83 billion.
Organic net sales grew 8% Y/Y, fueled by broad-based gains across all product categories, with Skin Care leading the way, driven by the company’s global travel retail segment.
Organic net sales in the Americas declined 5%, with sales in Europe, Middle East & Africa climbed 32% and Asia/Pacific fell 4%.
Organic net sales from Skin Care grew 15%, Makeup grew 1%, Fragrance rose 1%, and Hair Care increased 2% in the quarter.
Gross profit increased 14% Y/Y to $2.78 billion, with the margin expanding to 71.8% from 67.8% in the quarter. Operating expenses rose 23% Y/Y to $3.01 billion, while the operating expense margin was 77.8% vs. 67.9% last year.
Estee Lauder’s operating loss was $233 million, compared to a $5 million loss last year. Adjusted EPS of $0.64 beat the analyst consensus estimate of $0.27.
The company held $3.4 billion in cash and cash equivalents as of June 30, 2024.
Dividend: The company will pay a quarterly dividend of $0.66 per share, payable on September ...
