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The Estée Lauder Companies Inc. reports recurring developments in global prestige beauty, including results and outlook updates tied to skin care, makeup, fragrance, hair care and related brand activity. Company news commonly covers sales trends by product category and region, performance of brands such as Estée Lauder, Clinique, M·A·C, La Mer, Jo Malone London, Aveda, TOM FORD, The Ordinary and BALMAIN Beauty, and product introductions in prestige fragrance and skin care.
Updates also address portfolio investments, consumer-facing spending, distribution through retail and digital channels, and operating changes under the One ELC model and Profit Recovery and Growth Plan. These releases frame how the company manages its luxury and prestige beauty brands across approximately 150 countries and territories.
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The Estée Lauder Companies reported a 17% decline in net sales for Q2 FY2023, totaling $4.62 billion, driven by adverse COVID-related impacts and currency fluctuations. Organic net sales decreased 11%, with diluted EPS falling 63% to $1.09.
Despite challenges, the company exceeded EPS expectations. Strong performance was noted in the Fragrance category, with double-digit growth. However, the outlook for the second half has been adjusted downwards due to ongoing volatility in travel retail and inflationary pressures, forecasting a further 10-8% decline in organic sales.
The Estée Lauder Companies Inc. (NYSE: EL) announced a quarterly dividend of $.66 per share, payable on March 15, 2023, to stockholders of record by the close of business on February 28, 2023.
As a leading manufacturer in the beauty industry, Estée Lauder markets products across various segments, including skincare, makeup, and fragrance, under renowned brands like Estée Lauder, MAC, Clinique, and La Mer, available in approximately 150 countries.
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The Estée Lauder Companies Inc. (NYSE: EL) is set to release its fiscal 2023 second quarter results on February 2, 2023, at 9:30 a.m. (ET). The live webcast will feature President and CEO Fabrizio Freda alongside EVP and CFO Tracey T. Travis discussing the results and future outlook. Estée Lauder, a leading global manufacturer of skincare, makeup, fragrance, and hair care products, operates in approximately 150 countries and territories, offering renowned brands including Estée Lauder, Clinique, M·A·C, and more. Investors can access the webcast at elcompanies.com/investors.
Fabrizio Freda, President and CEO of The Estée Lauder Companies (NYSE: EL), will participate in a fireside chat at Morgan Stanley’s Global Consumer & Retail Conference in New York on December 7, 2022, at 9:30 a.m. EST. Interested parties can access the live webcast during the event, which will last until 10:05 a.m. EST, via this link. The company is a leading manufacturer and marketer of skin care, makeup, fragrance, and hair care products, sold in approximately 150 countries under various renowned brands.
The Estée Lauder Companies Inc. (NYSE: EL) held its Annual Meeting of Stockholders, chaired by Executive Chairman William P. Lauder. The meeting included the re-election of board members and the ratification of PricewaterhouseCoopers LLP as independent auditors for the fiscal year. CEO Fabrizio Freda presented insights on recent financial results and the company's long-term strategies. Estée Lauder remains a leading manufacturer of skincare and beauty products, with a wide portfolio sold in approximately 150 countries.
The Estée Lauder Companies has announced its acquisition of the TOM FORD brand for $2.8 billion, with a net payment of $2.3 billion expected after a $250 million payment from Marcolin S.p.A. ELC aims to leverage this acquisition to enhance TOM FORD BEAUTY's growth potential while eliminating royalty payments. The acquisition, anticipated to close in the first half of 2023, is viewed as dilutive to adjusted diluted earnings per share for fiscal 2023 but neutral for fiscal 2024. Long-term license agreements with Ermenegildo Zegna and Marcolin will continue for fashion and eyewear, respectively.
The Estée Lauder Companies Inc. (NYSE: EL) will hold its 2022 Annual Meeting of Stockholders virtually on November 18, 2022, at 10:00 a.m. (ET). Interested participants can access the meeting via the provided webcast link.
For additional details about the meeting, proxy statement materials, and related information, visit the company's investor relations website. Post-meeting, a replay of the webcast will be available online.
The Estée Lauder Companies reported Q1 fiscal 2023 net sales of $3.93 billion, down 11% YoY, with diluted EPS falling 28% to $1.35. Organic net sales decreased 5%, reflecting ongoing challenges from COVID restrictions in China and inflationary pressures. Despite these setbacks, adjusted EPS was $1.37, slightly above expectations. The company anticipates continued headwinds into Q2 but expects growth to resume in the second half of the fiscal year. The quarterly dividend was raised, reflecting confidence in long-term growth opportunities.