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Estee Lauder up after raising annual forecasts

By Reuters News8 hours ago Updated

** Shares of Estee Lauder EL.N up ~4% at $113.01 premarket

** Cosmetics maker raises its annual sales and profit forecast, betting on resilient demand for its fragrance, skincare brands and improving trends in China

** Expects fiscal 2027 organic sales growth between 4% and 5.5%, compared with prior forecast of 3% to 5% rise

** Sees fiscal 2027 adjusted EPS in the range of $3.20 to $3.45, compared with of $3.10 to $3.35 target previously

** Reports first-quarter net sales of $3.72 billion, beating analysts' estimates of $3.65 billion - data compiled by LSEG

** Logs quarterly adjusted EPS of 72 cents, topping expectations of 51 cents

** Up to last close, EL up about 4% YTD

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