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Companies and Brands

Estée Lauder Falls on Lowered Guidance, Avon Up on Reports of Another Bidder (EL, AVP)

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By Paul Ausick Published
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Cosmetics maker The Estée Lauder Companies Inc. (NYSE: EL) reported results for its third fiscal quarter this morning that met expectations, but shares are getting knocked on lowered fourth quarter guidance. Adjusted EPS came in at $0.33, right on the consensus estimate, and revenues, too, hit the consensus estimate of $2.25 billion.

Rival Avon Products Inc. (NYSE: AVP) reported very weak results earlier this week as the company continues to fight a takeover bid from privately held Coty Inc. And Avon may have another suitor — there are reports that private equity firm Richmont Holdings Inc. is currently lining up financing to make its own bid for Avon.

Lauder lowered its fourth quarter adjusted EPS guidance to a range of $0.11-$0.16, well below the consensus estimate of $0.20. For the full year adjusted EPS guidance was forecast at $2.1-$2.26 versus a current estimate of $2.24.

Shares of Estée Lauder are down more than -4% in the pre-market at $61.49 in a 52-week range of $40.76-$65.60. Avon’s shares are up about 1.2% at $21.25 in a 52-week range of $16.09-$30.62. Avon rejected an offer from Coty for $23.25/share in early April.

Paul Ausick

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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