The Estee Lauder Companies Inc. ELreported third-quarter fiscal 2018 results, with the top and the bottom line improving year over year and beating the Zacks Consensus Estimate. Notably, this marked the company’s 15th straight quarter of earnings beat and sales surpassed the same for the fifth consecutive period.
The impressive quarterly performance encouraged management to raise guidance for fiscal 2018.Needless to say, the splendid performance of this cosmetics giant has kept investors bullish for quite some time. Evidently, this Zacks Rank #3 (Hold) stock soared 65.7% in a year, outperforming the industry’s rally of 35%.
Quarter in Detail
The company posted adjusted earnings per share of $1.17 that surged 30% year over year and beat the Zacks Consensus Estimate of $1.07. On a currency-neutral basis, earnings improved 17%.