NEW YORK (AP) _ Estee Lauder Companies Inc. (EL) on Thursday reported a fiscal fourth-quarter loss of $462 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of $1.28 per share. Losses, adjusted for asset impairment costs and non-recurring costs, were 53 cents per share.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.
The beauty products company posted revenue of $2.43 billion in the period, which also missed Street forecasts. Eight analysts surveyed by Zacks expected $2.46 billion.
For the year, the company reported profit of $684 million, or $1.86 per share. Revenue was reported as $14.29 billion.
For the current quarter ending in October, Estee Lauder expects its per-share earnings to range from 80 cents to 85 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.15.
Estee Lauder shares have increased nearly 3% since the beginning of the year, while the Standard & Poor's 500 index has increased 4.5%. The stock has increased slightly more than 5% in the last 12 months.