L'Oreal Shares Rise Following Higher Sales
By Nina Kienle
L'Oreal shares rose on Friday after the French Cosmetics giant posted higher sales for its first quarter late Thursday.
At 0747 GMT, shares rose 4.8% at EUR444.10.
L'Oreal reported sales of 11.24 billion euros ($11.96 billion) for the three months to the end of March, rising 8.3% in reported terms and 9.4% on a like-for-like basis. The figure was boosted by growth in its core consumer-products and dermatological-beauty divisions, particularly in Europe and North America.
Sales in Europe rose more than 12% in reported terms to EUR3.73 billion.
"The West continues to power on, with Europe 500 basis points ahead of consensus expectations and solidly double-digit," Jefferies analysts Molly Wylenzek and David Hayes said in a note to clients.
Chief Executive Nicolas Hieronimus expects that L'Oreal will keep outperforming the market and achieve another year of growth in sales and profit.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
April 19, 2024 04:08 ET (08:08 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
How the Tokyo Stock Exchange Is Pushing for Better Capital Allocation
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
Powell Unfazed By Sticky Inflation, but Rate Cuts Are Far Off
-
After Earnings, Is Microsoft Stock a Buy, a Sell, or Fairly Valued?
-
Amgen Earnings: Obesity Drug Update Is Highly Encouraging
-
What’s Going on With Apple, Tesla, and Alphabet?
-
Apple Earnings: A Weak 2024, but Optimism for 2025
-
4 Utility Stocks to Play the AI Data Center Boom
-
Albemarle Earnings: We Expect Improved Results In the Rest of Year Following Cyclically Low Profits
-
Novo Nordisk Earnings: Raised Fair Value Estimate Still a Contrast to Market Overenthusiasm
-
After Earnings, Is Verizon Stock a Buy, a Sell, or Fairly Valued?
-
Look Inside Berkshire Hathaway’s Portfolio Before Its Annual Meeting