Estée Lauder (NYSE: EL) 2Q19 Results: Sales Reach $4 Billion; Company Raises Sales and EPS Guidance for Full Year

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Key Points

  • Estée Lauder reported 2Q19 revenues of $4.0 billion, up 7.0% year over year and beating the $3.9 billion consensus estimate. Non-GAAP EPS was $1.74, compared to $1.52 in the year ago quarter, up 14.5%.
  • Skin care, the company’s largest category at 43% of sales, rose 16% on a reported basis driven by the Estée Lauder, La Mer, Clinique and Origins brands. The Asia Pacific region showed strong growth, with over half of the regions showing double digit growth.
  • The company forecast 3Q19 revenue growth of 5-6%, compared to the consensus estimate of 2.5%. The company raised its full year EPS guidance to $4.92-5.00, versus the prior guidance of $4.73-4.82, compared to the consensus estimate of $4.86.

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