Estée Lauder Q1 2024 Earnings Summary
• EPS (Earnings Per Share): Reported at $0.88, beating expectations by $0.33.
• Revenue: $4.28 billion, surpassing the estimate of $4.19 billion.
• Sales Growth: Decline in organic sales by 11%, with a notable drop in global travel retail but growth in Americas, EMEA, and Asia Pacific (excluding Mainland China).
• Profitability Drivers: Better profitability was achieved through higher skin care sales, disciplined expense management, and strategic brand investments.
• Outlook: Lowered for fiscal year 2024 due to challenges in Asia travel retail, Mainland China, and potential disruptions in the Middle East. Plans for recovery include a focus on luxury segments, direct-to-consumer expansion, price optimization, and cost efficiency improvements.
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