Estee Lauder Companies Inc (NYSE: EL) reported strong financial results for its fiscal year ended June 30, 2018. The Company reported fiscal year 2018 diluted net earnings per common share of $2.95 compared with $3.35 reported in the prior year. Excluding restructuring and other charges and adjustments, adjusted diluted net earnings per common share increased 30% to $4.51, and in constant currency rose 24%.
The New York-based CEO Fabrizio Freda, said, "Fiscal 2018 was an outstanding year for our Company. We generated higher sales in every region and product category and gained global share.
"By investing in our hero franchises, fast-growing channels and digital and social media, we delivered double-digit sales and adjusted earnings per share growth. We achieved record net sales in fiscal 2018 and one of our best performances in the last decade."
Freda went on to explain that sales climbed in virtually all the company’s brands. Among the top four brands, the flagship Estée Lauder brand achieved record global sales and grew 22% in constant currency, demonstrating the amazing equity of the brand.
La Mer became the fourth brand in EL’s portfolio to contribute well over $1 billion in net sales, and the company also increased sales at M•A•C and Clinique globally.
Freda added, "In fiscal 2019, we will continue to create products that appeal to a more diverse and growing middle class around the world and we are confident that we can continue to achieve industry-leading sales and double-digit earnings per share growth. With a successful strategy that focuses on multiple engines of growth across products, geographies, channels and demographics, we expect to once again gain share globally in fiscal 2019."
Shares climbed $5.03, or 3.7%, early Monday morning to $140.97
