The Estée Lauder Companies Inc. Reports Net Earnings of $156 Million for Q3 2023 Amidst $3.75 Billion in Net Sales
Company's Revenue Amounts to $12.3 Billion for the First Nine Months of Fiscal Year 2023
The Estée Lauder Companies Inc.(EL), a global leader in the beauty i ndustry, has released its consolidated financial statements for the three and nine months ended March 31, 2023. The company's net earnings for the third quarter of 2023 reached $156 million, showcasing its resilience in a dynamic market landscape. Notably, the company reported net sales of $3.75 billion for the quarter and $12.3 billion for the first nine months of the fiscal year.
Net Income and Loss
The company's net earnings for the three months ended March 31, 2023, amounted to $156 million, compared to $558 million in the same period of the previous year. This represents a decrease of $402 million in net earnings. The decline in net earnings can be attributed to various factors, including changes in operating expenses, interest expenses, and other income components.
Revenue Performance
