The Estee Lauder Companies Inc. (NYSE: EL) reported third quarter 2023 earnings results today.
Net sales were $3.75 billion, down 12% from the prior-year period. Organic net sales fell 8%.
Net earnings were $156 million, or $0.43 per share, compared to $558 million, or $1.53 per share, last year. Adjusted EPS declined 75% to $0.47.
For FY2023, the company expects reported net sales to decrease 10-12% versus the previous year.
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