On May 3, Estée Lauder, the US luxury beauty group, announced its financial results for the third quarter ending March 31, 2023.
The net sales for the quarter were $3.75 billion, down 12% from the same period last year.
The net income was $156 million, compared to $558 million in the same period last year.
The diluted earnings per share were 43 cents, down from $1.53 in the same period last year.
The adjusted diluted earnings per share were down 75% to 47 cents, or 74% on a fixed exchange rate basis.
The company also announced its third reduction in sales and profit forecasts for th …