Exhibit 99.1

 

News

 

Contact:

Investor Relations:

Dennis D’Andrea

(212) 572-4384

 

 

 

767 Fifth Avenue

New York, NY  10153

Media Relations:

Alexandra Trower

(212) 572-4430

 

 

 

THE ESTÉE LAUDER COMPANIES FISCAL 2018 SECOND QUARTER SALES INCREASE 17%

 

– DILUTED EPS OF $.33 INCLUDES ONE-TIME CHARGE OF $1.05 PER SHARE FROM IMPACT OF U.S. TAX LEGISLATION; ADJUSTED DILUTED EPS ROSE 25% TO $1.52 –

 

– COMPANY RAISES FULL-YEAR SALES AND ADJUSTED EARNINGS FORECAST –

 

New York, NY, February 2, 2018 -

The Estée Lauder Companies Inc. (NYSE: EL) today reported financial results for its second quarter ended December 31, 2017.  The Company achieved net sales of $3.74 billion, an increase of 17%, compared with $3.21 billion in the prior-year quarter.  Incremental sales from the Company’s acquisitions of Too Faced and BECCA contributed approximately 2 percentage points of the reported sales growth.  Net earnings were $123 million, and include provisional one-time charges of $394 million related to the U.S. Tax Cuts and Jobs Act (TCJA) that was signed into law in December 2017.  On a diluted earnings per share basis, including the one-time charges and restructuring and other charges, the Company earned $.33. In the prior-year second quarter, the Company reported net earnings of $428 million and diluted earnings per share of $1.15.

 

Adjusting for the restructuring and other charges and the impact of the TCJA provisional charges, diluted net earnings per common share for the three months ended December 31, 2017 increased 25% to $1.52, and in constant currency rose 23%.

 

Fabrizio Freda, President and Chief Executive Officer, said, “In our second quarter we continued our strong momentum and generated stellar results.  In constant currency, our sales grew 14%, led by exceptional strength in travel retail, global online and Asia, along with strong double-digit growth in several markets in Europe, including Italy and Benelux.  We delivered double-digit sales gains across most product categories and many brands, including Estée Lauder, luxury brands and most mid-sized brands.  In the holiday season, our brands achieved outstanding results from their e-commerce businesses, and customizable gift options were significant contributors.  These elements, along with our accelerating cost saving efforts and our progress executing our Leading Beauty Forward initiatives, resulted in an impressive adjusted 23% earnings per share growth in constant currency.

 

Our strong results, combined with future benefits we expect from the passage of the new Tax Cuts and Jobs Act, further enhance our ability to strategically invest in faster-growing areas of

 

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The following information was filed by Estee Lauder Companies Inc (EL) on Friday, February 2, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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