The Estee Lauder Companies Inc. (NYSE: EL) reported first quarter 2024 earnings results today.
Net sales decreased 10% year-over-year to $3.52 billion. Organic sales declined 11%.
Net earnings attributable to The Estee Lauder Companies Inc. decreased 94% to $31 million, or $0.09 per share, compared to last year. Adjusted EPS fell 92% to $0.11.
Reported net sales are expected to decrease 9-11% in the second quarter of 2024. Organic sales are expected to decline 8-10%. Reported EPS is expected to be $0.47-0.57 while adjusted EPS is projected to be $0.48-0.58 in Q2 2024.
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