Estee Lauder Companies, Inc. (NYSE:EL) reported stronger-than-expected quarterly results on Thursday, driven by broad-based demand across regions and categories across its prestige beauty portfolio.

The company also highlighted progress on its global restructuring plan, including significant job cuts, and delivered a more confident outlook, even as shares traded lower ahead of the open.

Quarterly Metrics

The company reported second-quarter adjusted earnings per share of 89 cents, beating the analyst consensus estimate of 83 cents. Quarterly sales of $4.229 billion (+6% year over year) outpaced the Street view of $4.219 billion.

Organic net sales grew 4% year over year.

Mainland China saw a second straight quarter of double-digit retail sales growth and share gains across categories, led by La Mer, TOM FORD, and Le Labo; Japan and the U.S. also delivered share gains, with Makeup and Fragrance leading in Japan and Skin Care/Hair Care and DTC Fragrance up mid-single digits in the U.S.

Western Europe posted Fragrance share gains across ...