BUZZ – Estée Lauder shares rise after raising annual performance forecast

November 2 - ** Estée Lauder (EL.N) shares rose about 4% pre-market to $113.01

** The cosmetics manufacturer raised its annual sales and profit forecasts, betting on resilient demand for its fragrance and skincare brands as well as a favorable trend in the Chinese market

** Expects organic sales growth for fiscal year 2027 to be between 4% and 5.5%, previously forecast at 3% to 5%

** Expects adjusted earnings per share for fiscal year 2027 to be between $3.20 and $3.45, previously targeted at $3.10 to $3.35

** Report shows first-quarter net sales of $3.72 billion, exceeding the LSEG analyst consensus estimate of $3.65 billion

** Quarterly adjusted earnings per share were $0.72, higher than the market expectation of $0.51

** As of the previous trading session's close, EL has risen about 4% so far this year

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