Estee Lauder Companies Inc (NYSE:EL) stock was surging today following an earnings beat in its fiscal first quarter of 2018.
Estee Lauder Companies Inc reported earnings per share of $1.21 in its fiscal first quarter of 2018. This is an increase over its earnings per share of 85 cents from the same time last year. It was also a blessing to EL stock by beating out Wall Street’s earnings per share estimate of 97 cents for the quarter.
Estee Lauder Companies Inc stock also got some help today from its revenue of $3.27 billion. The beauty products company reported revenue of $2.87 billion in its fiscal first quarter of 2017. Analysts were expecting EL to report revenue of $3.17 billion in its fiscal first quarter of 2018.
The increase in revenue for Estee Lauder Companies Inc in the first quarter of 2017 was due to a couple of segments seeing strong growth. The first of these was its skin care segment, which saw revenue rise by 16% this quarter. Makeup sales were also up by 18%.
Estee Lauder Companies Inc also saw its operating income increase 36% during the quarter from $418 million to $568 million. This growth was fueled by a 54% increase in skin care, 21% rise in fragrance, an 18% increase for makeup and a 15% increase for hair care.
An update to its guidance for the full year of fiscal 2018 was another boon to EL stock. This includes earnings per share for the period ranging from $4.04 and $4.12. Wall Street is looking for earnings per share of $3.99 for the full year of fiscal 2018.
EL stock was up 8% as of Wednesday morning and is up 59% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.