Estée Lauder: cuts full-year guidance

(CercleFinance.com) - On its quarterly earnings call, Estée Lauder has lowered its targets for the current financial year in order to reflect additional external headwinds, citing the economic situation in China and the situation in the Middle East.


The cosmetics group now expects adjusted EPS to fall by 25% to 33% at constant exchange rates in 2023-24, with organic sales growth of between -2% and +1% (-1% and +2% on an organic basis).

For Q1 2023-24, Estée Lauder posted adjusted EPS that collapsed 91% at constant exchange rates, to 12 cents, on sales that fell 10% to $3.52bn (-11% on an organic basis).


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