Skip to Content
Global News Select

EssilorLuxottica Upbeat on Long-Term Outlook After Revenue Increase

By Andrea Figueras


EssilorLuxottica said it is confident in delivering on its long-term targets after it posted higher revenue for the first quarter.

The Franco-Italian eyewear company said Thursday that it made revenue of 6.335 billion euros ($6.76 billion) for the first three months of 2024, up 5.5% at constant currency compared with the year-earlier period.

"We're pleased to report another solid start to the year for the Company, with every geography and business contributing to the positive performance," Chairman and Chief Executive Officer Francesco Milleri and Deputy CEO Paul du Saillant said.

The growth rate came in line with the long-term outlook, despite facing a difficult comparison base as the first quarter was the strongest one in 2022 and 2023, the company said.

However, the result fell short of analysts' expectations of EUR6.42 billion, according to a poll of estimates compiled by Visible Alpha.

"With this positive momentum, we approach the first half of the year with optimism," Milleri and du Saillant said.

The Ray-Ban maker didn't disclose specific targets for 2024, but backed its long-term guidance. From 2022 to 2026, it continues to anticipate mid-single-digit annual revenue growth at constant exchange rates and an adjusted operating margin of between 19% and 20% by the end of that period.


Write to Andrea Figueras at


(END) Dow Jones Newswires

April 18, 2024 12:42 ET (16:42 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Market Updates

Sponsor Center