(November 3, 2011) Shares of Estee Lauder Companies Inc. (NYSE: EL), a New York City-based company, are soaring in trading today. At last check, the Estee Lauder stock was trading 16.27% higher at $117.24 on above average volume of 2.22 million.
Estee Lauder shares are soaring in trading today after the company announced its first-quarter financial results and raised its guidance for the full fiscal year. For the first quarter ended September 30, 2011, Estee Lauder reported net sales of $2.48 billion, representing an increase of 18% over the same period in the previous year. The company’s net earnings for the first quarter were $278.6 million, representing an increase of 14% over the same period in the previous year.
Fabrizio Freda, President and CEO of Estee Lauder Companies, said that the company’s very strong performance continued to be broad based, highlighted by healthy top-line growth across all categories and regions, strong bottom line growth and continued margin expansion. Freda said that the first-quarter results reflect the strength of the company’s brands, the appeal of its superior product innovations and the effectiveness of its focused advertising and marketing spending.
Following the strong first-quarter financial results, Estee Lauder also raised its outlook for fiscal 2012. The company now expects net sales for the full fiscal year to grow between 8% and 10% in constant currency. The company expects full-year diluted earnings per share to come in between $4.12 and $4.37.
About Estee Lauder Companies Inc.: Estee Lauder Companies Inc. is engaged in the manufacturing and marketing of skin care, makeup, fragrance and hair care products.
- The Estee Lauder stock has a 52-week range of $69.77-$120.34.
- The stock trades on a daily average volume of 1.49 million.
- The stock is currently trading above its 50-day and 200-day moving averages, which is a bullish signal.
- The stock’s MACD has crossed the signal line on the upside and is also above the zero-line, which are strong bullish signals.
Estee Lauder reported strong first-quarter financial results and also raised its fiscal 2012 outlook. The company’s shares are soaring following the announcement.