Estee Lauder Forecasts FY23 Growth
August 18 2022 - 07:58AM
Dow Jones News
By Connor Hart
Estee Lauder Cos. on Thursday gave its outlook for its 2023
fiscal year, which the company said factors in the continuing risks
related to the Covid-19 pandemic and a volatile macroeconomic
environment.
The company said it expects net sales to increase between 3% and
5% from the previous year, which accounts for negative effects from
unfavorable foreign-currency translation and the company's
suspension of Russian and Ukrainian operations.
Organic net sales, which strip out currency swings as well as
acquisitions or divestitures, are forecast to increase between 7%
and 9%, it said.
The company forecast per-share earnings to be between $7.11 and
$7.33 for the year. Excluding restructuring and other charges, the
company expects per-share earnings to be between $7.39 and
$7.54.
The company's fiscal 2023 outlook comes as it reported profit
and revenue fell in the fourth quarter of fiscal 2022. Unfavorable
international conditions cut into the company's top and bottom
lines, but were partially offset by growth in the Americas, the
company said.
Shares of the company fell 1% in premarket trading Thursday.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
August 18, 2022 07:43 ET (11:43 GMT)
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