RTTNews | May 3, 2021 07:17AM EDT

07:17 Monday, May 3, 2021 (RTTNews.com) - While reporting financial results for the third quarter on Monday, Este Lauder Cos., Inc. (EL) reinstated its earnings and sales growth guidance for the full-year 2021, in line with analysts' estimates. For fiscal 2021, the company expects earnings in a range of $5.31 and $5.48 per share and adjusted earnings in a range of $6.05 to $6.15 per share on reported net sales growth of 11 to 12 percent, with a growth of 9 to 10 percent on a constant currency basis.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.00 per share on a sales growth of 11.80 percent to $15.98 billion for the quarter. Analysts' estimates typically exclude special items.

"We expect the momentum in our sales growth to build in the fourth quarter of fiscal 2021, not only from easing comparisons but also fundamental strength, as we drive recovery," said Fabrizio Freda, President and Chief Executive Officer.

The company said it expects to invest in areas to support the recovery, including advertising, online and supply chain, to both drive growth in areas of opportunity and help nurture emerging trends in the rest of the business.

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