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767 Fifth Avenue
New York, NY 10153
THE ESTÉE LAUDER COMPANIES DELIVERS STRONG FISCAL YEAR 2016 RESULTS
FOURTH QUARTER AND FISCAL YEAR REPORTED NET SALES INCREASE 5% AND 4%, RESPECTIVELY; ADJUSTED CONSTANT CURRENCY NET SALES RISE 7% IN BOTH PERIODS
FULL-YEAR REPORTED EPS INCREASES 5%,
ADJUSTED CONSTANT CURRENCY EPS RISES 13%
STRONG FISCAL 2017 SALES AND EARNINGS FORECASTED
New York, NY, August 19, 2016 - The Estée Lauder Companies Inc. (NYSE: EL) today reported strong financial results for its fourth quarter and fiscal year ended June 30, 2016.
Fabrizio Freda, President and Chief Executive Officer, said, Our fiscal 2016 performance gives us much to celebrate. We again delivered strong constant currency net sales growth and double-digit adjusted constant currency EPS growth, reflecting the compelling products and services we bring to consumers around the world. We capitalized on shifting consumer preferences by leveraging our strength in makeup and positioning our Company to win in luxury fragrances. We nimbly allocated resources and made strategic investments in areas that gave us terrific results, including emerging markets, our makeup category, and the online and specialty-multi retail channels. Importantly, we achieved these results against a backdrop of social and political instability, currency volatility and economic challenges.
For the three months ended June 30, 2016, the Company reported net sales of $2.65 billion, a 5% increase compared with $2.52 billion in the prior-year period, posting across-the-board sales gains in all geographic regions and product categories, except fragrance. Fiscal 2016 fourth quarter sales benefited from innovative new products and double-digit growth in several emerging and developed markets. The Company also generated double-digit gains in its travel retail and online channels. Net earnings for the quarter were $93.5 million, compared with $153.0 million last year, and diluted net earnings per common share were $.25, compared with $.40 reported in the same prior-year period. The fiscal 2016 fourth quarter included the effect of restructuring and other charges described below.
Excluding the impact of foreign currency translation, net sales increased 7%. For the quarter, the negative impact of foreign currency translation on diluted net earnings per common share was
The following information was filed by Estee Lauder Companies Inc (EL) on Friday, August 19, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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