Exhibit 99.1

 

 

News

Contact:
Investor Relations:
Dennis D’Andrea
(212) 572-4384

 

 

767 Fifth Avenue
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Media Relations:
Alexandra Trower
(212) 572-4430

 

 

 

THE ESTÉE LAUDER COMPANIES FISCAL 2018 THIRD QUARTER SALES GROWTH OF 18% DRIVES 24% EPS INCREASE

 

— CONSTANT CURRENCY NET SALES INCREASED 13% —

— DILUTED EPS $.99, ADJUSTED DILUTED EPS $1.17 —

 

— COMPANY RAISES FULL-YEAR SALES AND ADJUSTED EARNINGS GUIDANCE —

 

New York, NY, May 2, 2018 -

The Estée Lauder Companies Inc. (NYSE: EL) today reported strong financial results for its third quarter ended March 31, 2018.  The Company achieved net sales of $3.37 billion, an increase of 18%, compared with $2.86 billion in the prior-year quarter.  Net earnings rose 25% to $372 million, compared with $298 million last year.  Diluted net earnings per common share increased 24% to $.99, compared with $.80 reported in the prior year, including restructuring and other charges and adjustments.

 

Excluding the impact of foreign currency translation, net sales increased 13%.  For the quarter, the positive impact of foreign currency translation on diluted net earnings per common share was $.11.  Adjusting for the restructuring and other charges and adjustments, diluted net earnings per common share for the three months ended March 31, 2018 increased 30% to $1.17, and in constant currency rose 17%.

 

Fabrizio Freda, President and Chief Executive Officer, said, “Our Company delivered another excellent quarter in what we expect to be an outstanding fiscal year.  Many areas of our business that contributed to our strong first-half results continued to thrive in our third quarter, as we generated 13% sales growth and 17% adjusted earnings per share growth, each in constant currency.  Among our multiple engines of growth, travel retail, online and Asia again were standouts, and we experienced strong momentum in other high growth channels and markets.  Our performance this quarter reflected robust global demand across our portfolio, with virtually all our brands posting sales growth.   Each of our three biggest brands grew globally, with exceptional growth in Estée Lauder. These results reflect our strong array of hero products, as well as product and service innovations that resonated well with today’s diverse global consumers.”

 

Mr. Freda added, “We continue to position our Company for sustainable, profitable growth and long-term shareholder value creation, with strategic actions and targeted investments to build our brands and strengthen our assets.  Our ability to anticipate prestige beauty trends enables us to quickly deploy our resources to capture potential growth opportunities.  Amplifying our digital

 

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The following information was filed by Estee Lauder Companies Inc (EL) on Wednesday, May 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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