Estée Lauder Revises FY24 Outlook To Narrow Net Sales Range And Lower Adjusted EPS For Tax, While Reaffirming Operating Profitability; Cuts Adj. EPS Outlook From $2.17-$2.42 To $2.08-$2.23 (Est. $2.33)
Portfolio Pulse from Benzinga Newsdesk
Estée Lauder revises its FY24 outlook, narrowing its net sales range and lowering its adjusted EPS forecast from $2.17-$2.42 to $2.08-$2.23, below the estimated $2.33. The company expects net sales to vary between a 1% decrease to a 1% increase compared to the previous year, with reported net earnings per share projected between $2.04 and $2.20.
February 05, 2024 | 11:59 am
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Estée Lauder lowers its FY24 adjusted EPS forecast from $2.17-$2.42 to $2.08-$2.23, indicating a potential decrease in profitability. Net sales are expected to range from a 1% decrease to a 1% increase year-over-year.
The revision of Estée Lauder's FY24 outlook, particularly the lowering of the adjusted EPS forecast below the estimated $2.33, suggests a negative impact on investor sentiment and potentially the stock price in the short term. The expected stagnation in net sales growth further compounds concerns about the company's near-term revenue and profitability prospects.
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