Before the bell on Tuesday beauty products maker Estee Lauder Companies Inc (EL) topped Wall Street’s second quarter earnings estimates with profits rising 13%.
The New York City-based company reported a second quarter net income of $447.5 million, or $1.13 per share, up 13% from $396.7 million, or $1 per share, earned in the same period a year earlier.
Adjusting for certain one-time items, EL posted net earnings of $457 million, or $1.16 per share. This exceeded the Wall Street view, as analysts were predicting an EPS of $1.05 for the quarter.
The company’s quarterly revenue was up 7% to $2.93 billion from $2.74 billion a year ago. This total also beat the Wall Street consensus of $2.90 billion in revenue.
In fiscal 2013, the company forecasts a sales growth between 6% and 7% and sees EPS in a range of $2.51 to $2.59. Analysts project annual EPS to be $2.57.
Estee Lauder shares were up $2.85, or +4.67%, during morning trading on Tuesday. The stock is up +11.29% over the past year.
The Bottom Line
Shares of EL currently offer a dividend yield of 1.12%, based on Tuesday’s intraday trading price of $64.52 and the company’s annualized dividend payout of 72 cents per share.
Estee Lauder Companies Inc (EL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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