Estée Lauder returns to operating profit ( vs. $15.0B loss) on 5% revenue growth

Filed August 19, 2026 · Period ending June 30, 2026 · Compared to 10-K Aug 20, 2025 · ~2 min read

Key Changes

• high

  Operating income swung from a $785M loss to $780M profit, a $1.6B improvement driven by 150bp gross margin expansion (75.5% vs. 74.0%) and the absence of prior-year's $1.3B intangible impairment.

  MD&A: Operating Results verify on EDGAR →
• high

  Net earnings returned to $182M (1.2% margin) after a $1.1B loss in FY25, though profitability remains well below the $390M-$1.0B range of earlier years.

  MD&A: Net Earnings verify on EDGAR →
• high

  Restructuring program concluded with $1.7B in total charges and ~10,000 positions eliminated (at the high end of prior guidance), expected to deliver $1.2B in gross annual benefits by end of FY27.

  Notes: Restructuring Program verify on EDGAR →