Estee Lauder (EL.US) Falls Over 17% After Unexpectedly Pulling 2025 Financial Outlook
1min read Estee Lauder (EL.US) opened lower on Thursday and fluctuated before hitting a new low in the session, falling over 17% as of writing to $72.29. The company unexpectedly withdrew its full-year fiscal 2025 earnings outlook, citing the uncertainty of the new CEO's appointment and weaker-than-expected demand in China. In its earnings statement on Thursday, the company also said it would cut its dividend to "a more appropriate dividend rate, which will also create more financial flexibility for our new leadership team to reaccelerate our earnings growth trajectory." The cosmetics giant reported a net loss of $156 million in the first quarter of fiscal 2025, which ended on September 30, compared to a small profit of about $36 million in the year-ago period, due to significant expenses related to talc litigation and weaker product demand.
