Estée Lauder Q2 Sales Rise 6% to $4.2B, Stock Drops 20% Despite Strong Earnings

Estée Lauder Cos.' Q2 sales rose 6% to $4.2 bln, beating estimates, but the stock closed down almost 20%. Organic net sales increased 4%, and adjusted diluted net earnings per common share rose to 89 cents, up 43% YoY. The company nudged up its full-year net sales forecast to 1-3% and raised its adjusted earnings forecast to $2.03-$2.23. Despite this, investors were concerned about tariffs and the company's full-year earnings forecasts.