Estee Lauder press release: Q2 Non-GAAP EPS of $0.88 beats by $0.32.
Revenue of $4.28B (-7.4% Y/Y) beats by $40M.
Estée Lauder Further Expands Profit Recovery Plan For Fiscal Years 2025 And 2026 To Include Restructuring Program; Estimates Net Reduction Of Approximately 3-5% Of Its Positions As Of June 30, 2023.
Upon completion of this plan, the Company expects to have improved its gross margin and expense base to drive greater operating leverage for the future. The program is expected to yield annual gross benefits of between $350 million and $500 million, before taxes.
Reported and Organic net sales are forecasted to range between a decrease of 1% to an increase of 1% versus the prior-year period. Reported net earnings per common share are projected to be between $2.04 and $2.20. Excluding restructuring and other charges and adjustments, net earnings per common share are projected to be between $2.08 and $2.23.