12:38 PM EDT, 05/01/2024 (MT Newswires) -- (Updates with stock movement in headline and first paragraph).

Estee Lauder Companies ( EL ) shares were down 13.2% in recent trading Wednesday after reporting fiscal Q3 results.

The company reported fiscal Q3 adjusted earnings Wednesday of $0.97 per diluted share, up from $0.47 a year earlier.

Analysts polled by Capital IQ expected $0.50.

Net sales for the quarter ended March 31 were $3.94 billion, compared with $3.75 billion a year ago.

Analysts surveyed by Capital IQ expected $3.92 billion.

The company said it expects fiscal Q4 adjusted earnings of between $0.18 and $0.28 per diluted share. Analysts polled by Capital IQ expect $0.75.

For fiscal year 2024, the company said it now expects adjusted earnings of $2.14 to $2.24 per diluted share, compared with $2.08 to $2.23 anticipated previously. Analysts polled by Capital IQ expect $2.25.

Price: 127.31, Change: -19.40, Percent Change: -13.22