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Jun 30, 2022
Estee Lauder Q4 2022 Earnings Report
The Estée Lauder Companies reported a decrease in net sales and diluted earnings per share for the fourth quarter of fiscal year 2022.
Key Takeaways
The Estée Lauder Companies reported a 10% decrease in net sales for the fourth quarter of fiscal year 2022, with net sales of $3.56 billion. Net earnings were $52 million, and diluted earnings per share was $0.14. Adjusted diluted net earnings per common share was $0.42.
Net sales decreased by 10% compared to the prior-year period, with organic net sales decreasing by 8%.
Strong growth in The Americas was offset by negative impacts from COVID-related restrictions in China and suspension of commercial activities in Russia and Ukraine.
Net earnings were $52 million, and diluted earnings per share was $0.14.
Adjusted diluted net earnings per common share was $0.42.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company enters the fiscal year during a volatile period of record inflation, supply chain disruptions, strengthening U.S. dollar, risk of a slowdown in many markets globally, and with a strong headwind from the August 2022 COVID-19 restrictions in Hainan.
Positive Outlook
- More balanced growth across categories, regions and channels as the impacts of COVID-19 restrictions begin to abate.
- Targeted expanded distribution throughout the year to retailers that provide broader consumer reach.
- A continued gradual resumption of global international travel, including to Hainan.
- Incremental savings from the Post-COVID Business Acceleration Program and reinvestment in advertising and capabilities.
- Full-year effective tax rate of approximately 23%.
Challenges Ahead
- Reported net sales are forecasted to decrease between 10% and 8% versus the prior-year period.
- Organic net sales are forecasted to decrease between 6% and 4%.
- Reported diluted net earnings per common share are projected to be between $1.16 and $1.28.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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