WASHINGTON (dpa-AFX) - While reporting financial results for the third
quarter on Wednesday, Estee Lauder Cos., Inc. (EL) slashed its earnings,
adjusted earnings and revenue growth guidance for the full-year 2024. The
company also provided outlook for the fourth quarter, well below estimates.

For the fourth quarter, the company expects a loss in a range of $0.11 to $0.22
per share and adjusted earnings in a range of $0.18 to $0.28 per share, on
reported net sales growth 5 to 9 percent, with organic net sales growth of 6 to
10 percent.

On average, analysts polled by Thomson Reuters expect the company to report
earnings of $0.76 per share on revenue growth of 12.7 percent to $4.09 billion
for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company now projects earnings in a range of
$1.96 to $2.09 per share and adjusted earnings in a range of $2.14 to $2.24 per
share on reported net sales decline of 3 to 2 percent, with organic net sales
decline of 2 to 1 percent.

Previously, the company expected earnings in the range of $2.04 to $2.20 per
share and adjusted earnings in the range of $2.08 to $2.23 per share on reported
and organic net sales between a decline of 1 percent and growth of 1 percent.

The Street is looking for earnings of $2.25 per share on a sales decline of 0.80
percent to $15.81 billion for the year.

Separately, the company announced a quarterly dividend on the Company's Class A
and Class B Common Stock of $0.66 per share, payable on June 17, 2024 to
stockholders of record at the close of business on May 31, 2024.

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