By Paulo Trevisani

The Estée Lauder Companies Inc. said Thursday that currency exchange is expected to hurt earnings in its 2022 fiscal year.

The New York-based cosmetics maker said forex would have a negative impact of about five cents on earnings per share in the current quarter and a negative impact of 19 cents a share in the fiscal year, both periods started on July 1.

The company said the outlook is based on August 13 spot rates and warned that currency exchange rates "are volatile and difficult to predict."

For the 2021 fiscal year ended June 30, the company reported net sales of $16.22 billion, an increase of 13% from the prior year. It said the increase was 11% when the impact of currency translation was excluded.

According to Dow Jones Market Data, in the 12-month period ending June 30, 2021, the US Dollar Index fell 5.1%.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

(END) Dow Jones Newswires

08-19-21 1143ET