Estee Lauder beats by $0.11, beats on revs; guides Q1 revs below consensus; guides FY24 revs below consensus (162.06)
- Reports Q4 (Jun) earnings of $0.07 per share, $0.11 better than the FactSet Consensus of ($0.04); revenues rose 1.3% year/year to $3.61 bln vs the $3.48 bln FactSet Consensus.
- Co issues guidance for Q1, sees EPS of ($0.29)-($0.19), may not be comparable to $0.98 FactSet Consensus; sees Q1 revs of decline 10-12% yr/yr to ~$3.46-3.54 bln vs. $3.94 bln FactSet Consensus.
- Co issues guidance for FY24, sees EPS of $3.50-3.75, may not be comparable to $4.86 FactSet Consensus; sees FY24 revs of +5-7% yr/yr to ~$16.71-17.02 bln vs. $17.2 bln FactSet Consensus.
- As the Company disclosed on July 18, 2023, it identified a cybersecurity incident involving an unauthorized third party that gained access to some of the Company's systems. After becoming aware of the incident, the Company proactively took down some of its systems, initiated an investigation with leading third-party cybersecurity experts and began coordinating with law enforcement. The Company began bringing its systems back online within days, which limited the incident's impact on the Company's operations. Based on the information available to date, the Company believes the incident is contained. The cybersecurity incident is expected to have an immaterial impact to net sales and a dilutive impact to net earnings per common share of approximately $.07 for the fiscal 2024 first quarter and full year.