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Estée Lauder (EL) 3Q16 Results: EMEA Region Leads Performance in the Quarter

Executive Summary

  • Estée Lauder reported 3Q16 adjusted EPS of $0.73, excluding onetime items and including a $0.03 negative impact related to foreign exchange, versus the consensus estimate of $0.61.
  • Total revenues were $2.66 billion, in line with expectations. Total sales increased by 6% on a constant-currency basis versus consensus of 7.1%; on a reported basis, sales increased by 3%.
  • Full-year guidance calls for EPS of $3.09–$3.14, which is above prior guidance of $3.07–$3.12. Guidance for sales growth of 7%–8% on a constant-currency basis is consistent with prior guidance.

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