Estée Lauder Lowers Revenue Forecast Amid China Slowdown, Despite Strong Q3 Earnings

Estée Lauder has revised its revenue outlook downward due to persistent market challenges in China, even as its Q3 earnings exceeded expectations.

Estée Lauder reported a 5% increase in Q3 revenue, reaching $3.94 billion, surpassing Wall Street predictions.
The company lowered its full-year revenue guidance to a decline of 2-3%, citing ongoing macroeconomic pressures and soft demand in China.
Despite the revenue forecast cut, Estée Lauder raised its adjusted earnings per share outlook for 2024 to $2.14-$2.24.
Shares of Estée Lauder fell significantly following the announcement, reflecting investor concerns over future growth.
The company's performance varied by region, with notable increases in Europe and the Middle East but a decline in the Asia/Pacific segment.