Estee Lauder (NYSE:EL) reported fiscal Q2 adjusted earnings Monday of $0.88 per diluted share, down from $1.54 a year earlier.
Analysts polled by Capital IQ expected $0.56.
Net sales for the quarter ended Dec. 31 were $4.28 billion, down from $4.62 billion a year earlier.
Analysts surveyed by Capital IQ expected $4.24 billion.
The company said it expects fiscal Q3 adjusted EPS to range between a decrease of 18% and an increase of 3% on a constant currency basis. Net sales are projected to increase by between 3% and 5%. Analysts surveyed by Capital IQ expect adjusted EPS of $0.83 on revenue of $3.91 billion.
For fiscal 2024, adjusted EPS is projected to decrease by between 34% and 38% on a constant currency basis, while the net sales outlook is between a 1% decrease to a 1% increase. Analysts polled by Capital IQ expect adjusted EPS of $2.33 on revenue of $15.74 billion.
Estee Lauder maintained a quarterly dividend of $0.66 per share, payable March 15 to stockholders of record on Feb. 29.
Shares of the company rose over 19% in recent premarket activity on Monday.