Estee Lauder Profit Rises 36%, Sales Jump

Estee Lauder posted better-than-expected first-quarter earnings boosted by solid sales.
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NEW YORK (TheStreet) -- Estee Lauder (EL) - Get Report posted better-than-expected fiscal first-quarter earnings boosted by solid sales.

Estee Lauder said net earnings increased 36% to $191.1 million, or 95 cents a share, from $140.7 million, or 71 cents, in the year-ago period. Excluding special items, earnings were 97 cents a share, beating the Wall Street consensus target of 77 cents.

Estee Lauder reported a net sales increase of 14% to $2.09 billion from $1.83 billion in the prior year. On average, analysts were expecting sales of $2.02 billion.

The company projects full-year net earnings of between $2.90 and $3.10 a share vs. $3.06 projected by Wall Street. For the second quarter, the company forecasts earnings of $1.32 to $1.45 a share vs. the consensus expectation of $1.37.

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-- Written by Andrea Tse in New York.

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