Estee Lauder Forecasts Annual Profit Below Estimates as Tariffs Hit
Aug 20 (Reuters) - Estee Lauder forecast annual profit below Wall Street estimates on Wednesday, as the cosmetics giant grapples with persistent weakness in the U.S. and China markets and tariff uncertainty.
Shares of the company were down about 12% in premarket trading.
The company expects a hit of about $100 million from tariff-related headwinds to fiscal 2026 profitability.
Estee Lauder, like other luxury brands and retailers, took a hit from consumers keeping a tight lid on expenses in the face of surging product prices owing to U.S. President Donald Trump's sweeping tariffs on imports.
The company expects full-year adjusted earnings per share to be in the range of $1.90 to $2.10, compared with analysts' estimates of $2.21 per share, as per data compiled by LSEG.
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