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Estée Lauder fiscal Q4 profit falls 40.5% YOY

Estée Lauder Cos. Inc. said its normalized net income for the fiscal fourth quarter ended June 30 came to 35 cents per share, compared with the S&P Capital IQ consensus estimate of 34 cents per share.

EPS declined 39.5% year over year from 59 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $136.1 million, a decline of 40.5% from $228.6 million in the year-earlier period.

The normalized profit margin fell to 5.4% from 8.4% in the year-earlier period.

Total revenue decreased 7.4% year over year to $2.52 billion from $2.73 billion, and total operating expenses fell year over year to $2.29 billion from $2.34 billion.

Reported net income declined 40.5% on an annual basis to $152.8 million, or 40 cents per share, from $257.0 million, or 66 cents per share.

For the year, the company's normalized net income totaled $2.52 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.79.

EPS declined 10.3% from $2.81 in the prior year.

Normalized net income was $970.9 million, a decline of 12.0% from $1.10 billion in the prior year.

Full-year total revenue fell year over year to $10.78 billion from $10.97 billion, and total operating expenses totaled $9.17 billion, compared with $9.14 billion in the year-earlier period.

The company said reported net income declined 9.6% on an annual basis to $1.09 billion, or $2.82 per share, in the full year, from $1.20 billion, or $3.06 per share.