Estée Lauder Targets 9-11% Earnings Growth In FY18 - Quick Facts

(RTTNews) - The Estée Lauder Companies Inc. (EL) announced, for fiscal 2018, net earnings per share before charges associated with restructuring and other activities are projected to be between $3.87 and $3.94. On a constant currency basis, before charges associated with restructuring and other activities, earnings per share are expected to increase between 9% and 11%. Net sales are forecasted to increase between 8% and 9% versus the prior-year period. Net sales are forecasted to grow between 7% and 8% in constant currency.

For the first-quarter, the company projects net earnings per share before charges associated with restructuring and other activities to be between $0.94 and $0.97 for an increase of 12% to 15% over the prior-year period. Net sales are forecasted to increase between 9% and 10% versus the prior-year period both on a reported and constant currency basis.

Fabrizio Freda, CEO, said: "We expect the great momentum we built throughout the past year to continue in fiscal 2018. Our full-year outlook in constant currency reflects net sales growth of 7% to 8%, including incremental sales from our fiscal 2017 acquisitions, and 9% to 11% earnings per share growth. Looking out over the next three years, we continue to target constant currency net sales growth of 6% to 8% and double-digit EPS growth."

Adjusting for the restructuring and other charges and other adjustments, net earnings per share for the three months ended June 30, 2017 was $0.51, and in constant currency rose 25%. Excluding the impact of foreign currency translation, net sales increased 11%.