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Estee Lauder (EL ) reported higher than expected second quarter results on Thursday, but shares fell due to its weak outlook for the third quarter and FY2015.
Fabrizio Freda, President and CEO of EL, commented: “Our successful performance this quarter reflected solid global demand for our brands, including a strong holiday season. Our results further demonstrate our ability to grow despite currency headwinds and softness in several countries. For the quarter, our sales and profits came in higher than planned as we continued to leverage our diverse growth engines and capitalized on high-growth opportunities, which translated into excellent results in several of our higher-margin brands and channels, while efficiently managing costs. Key drivers of our performance were the United Kingdom and emerging markets, our makeup and luxury brands, and online, specialty-multi and freestanding store channels."
EL paid its last 24 cent quarterly dividend on December 15. We expect the company to declare its next dividend in the coming weeks.
Shares of EL were down $2.55, or 3.51%, during pre-market trading Thursday. The stock is down 4.79% YTD.