NEW YORK--(BUSINESS WIRE)--The Estée Lauder Companies Inc. (NYSE: EL) will pay a quarterly dividend of $.66 per share on the Company’s Class A and Class B Common Stock on March 15, 2024 to stockholders of record at the close of business on February 29, 2024. The Estée Lauder Companies Inc. is one of the world’s leading manufacturers, marketers and sellers of quality skin care, makeup, fragrance and hair care products, and is a steward of luxury and prestige brands globally. The Company’s products are sold ...

Sales Performance - Skin care net sales declined by 10% to $2,173 million for the three months ended December 31, 2023, primarily due to lower sales from Estée Lauder and Clinique[172]. - Makeup net sales decreased by 8% to $1,167 million for the three months ended December 31, 2023, driven by lower sales from M·A·C and Estée Lauder[181]. - Fragrance net sales remained flat at $737 million for the three months ended December 31, 2023, with growth from Le Labo and Jo Malone London offset by declines from Estée Lauder[181]. - Hair care net sales declined by 5% to $173 million for the three months ended December 31, 2023, primarily due to lower sales from Aveda[183]. - Net sales in The Americas remained virtually flat, with net sales of $4,279 million for the three months ended December 31, 2023, a decrease of 7% from $4,620 million in the prior year[186]. - Net sales in Europe, the Middle East & Africa decreased by 13% for the same period, primarily due to the decline in the Asia travel retail business[186]. - Net sales in Asia/Pacific decreased by 8%, reflecting ongoing softness in overall prestige beauty in mainland China[186]. - Reported net sales decreased by 7% for the three months ended December 31, 2023, driven by a volume decrease of 12% and partially offset by a pricing increase of 4%[201]. - Skin care net sales decreased by 10% for the three months ended December 31, 2023, primarily due to lower sales from Estée Lauder and Clinique, reflecting a decline in the Asia travel retail business[205]. - Makeup net sales decreased by 8% for the three months ended December 31, 2023, driven by a volume decrease of 11%[213]. - The total net sales decrease was impacted by approximately $8 million of favorable foreign currency translation for the three months ended December 31, 2023[199]. - Reported net sales in The Americas increased 1% to $1,242 million for the three months ended December 31, 2023, and 4% to $2,450 million for the six months ended December 31, 2023, driven by strong performance in Brazil and Mexico[227][231]. - Reported net sales in Europe, the Middle East & Africa decreased 13% to $1,589 million for the three months ended December 31, 2023, and 19% to $2,841 million for the six months ended December 31, 2023, primarily due to lower sales from the Asia travel retail business[233][236]. - Reported net sales in Asia/Pacific decreased 8% to $1,449 million for the three months ended December 31, 2023, and 7% to $2,507 million for the six months ended December 31, 2023, reflecting ongoing softness in the prestige beauty market in mainland China[237][242]. - The company experienced a 9% decline in net sales across all regions for the six months ended December 31, 2023[303]. - The Hair Care category reported a 6% decrease in sales, totaling $173 million for the three months ended December 31, 2023[300]. Financial Performance - Operating income increased to $574 million for the three months ended December 31, 2023, compared to $556 million in the same period of 2022[172]. - Gross profit margin decreased to 73.0% for the three months ended December 31, 2023, down from 73.6% in 2022[174]. - Selling, general and administrative expenses increased to 59.5% of net sales for the three months ended December 31, 2023, compared to 56.9% in 2022[174]. - The Profit Recovery Plan aims to rebuild profit margins, with expected restructuring charges between $500 million and $700 million, and annual gross benefits of $350 million to $500 million once fully implemented[195][196]. - The restructuring program is expected to result in a net reduction of approximately 1,800 to 3,000 positions globally, representing about 3-5% of total positions[194]. - For the three months ended December 31, 2023, the operating income was $574 million, a 3% increase from $556 million in the prior year, while for the six months, it decreased by 45% to $672 million from $1,217 million[252]. - Operating expenses as a percentage of net sales were 59.6% for the three months and 62.9% for the six months ended December 31, 2023, compared to 61.6% and 59.5% in the prior-year periods[248]. - Skin care operating income decreased by 4% to $415 million for the three months and by 53% to $452 million for the six months ended December 31, 2023, primarily due to lower net sales[257]. - Makeup operating income improved significantly for the three months ended December 31, 2023, reaching $30 million, compared to a loss of $24 million in the prior year[262]. - Fragrance operating income decreased by 14% to $131 million for the three months and to $238 million for the six months ended December 31, 2023, impacted by lower net sales and license terminations[269]. - The company experienced higher obsolescence charges due to excess inventory, particularly in the travel retail business and mainland China, affecting both gross and operating margins[259]. - The favorable impact on operating expense margin for the three months ended December 31, 2023, was partially offset by higher selling costs and store operating costs[250]. - The Ordinary brand showed improved operating results, driven by increased net sales and a shift in manufacturing production to in-house facilities[260]. - The company continues to invest in advertising and promotional activities, which contributed to increased operating results from certain brands despite overall declines in net sales[266]. - Reported operating income in Europe, the Middle East & Africa decreased by 30% for the six months ended December 31, 2023, driven by lower results from the travel retail business[278]. - Operating income in Asia/Pacific decreased by approximately $145 million for the six months ended December 31, 2023, primarily due to lower results from mainland China and Taiwan[283]. - Interest expense increased to $98 million for the three months ended December 31, 2023, reflecting a higher debt balance and increased interest rates compared to the prior-year period[287]. - The effective tax rate increased to 37.6% for the three months ended December 31, 2023, primarily due to a higher effective tax rate on foreign operations[289]. - Net earnings attributable to The Estée Lauder Companies Inc. decreased by 21% to $313 million for the three months ended December 31, 2023, compared to $394 million in the prior year[291]. - Diluted net earnings per share decreased by 20% to $0.87 for the three months ended December 31, 2023, compared to $1.09 in the prior year[291]. - For the six months ended December 31, 2023, net sales were $7,797 million, down 9% from $8,550 million in the previous year[297]. - Operating income for the six-month period dropped 45% to $672 million from $1,217 million in 2022[297]. - Diluted net earnings per common share, as adjusted, fell 66% to $0.98 compared to $2.91 in the same period last year[297]. Cash Flow and Debt Management - Cash and cash equivalents as of December 31, 2023, were $3,939 million, down from $4,029 million at June 30, 2023[309]. - The company plans to purchase the remaining interest in DECIEM in Q4 2024, based on performance, which will settle stock options and redeemable noncontrolling interest[310]. - The company anticipates that cash on hand and generated from operations will support working capital needs and planned business operations[310]. - As of December 31, 2023, total debt amounted to $8,140 million, with long-term debt at $6,640 million and current debt at $1,500 million, representing 59% of total capitalization[316]. - Net cash flows from operating activities for the six months ended December 31, 2023, were $937 million, an increase from $751 million in the same period of 2022[318]. - Cash flows used for investing activities increased to $(557) million in the six months ended December 31, 2023, compared to $(285) million in 2022, primarily due to capital expenditures for a new manufacturing facility in Japan[319]. - Cash flows used for financing activities were $(489) million, a decrease from $(685) million in the prior year, driven by increased proceeds from short-term commercial paper[320]. Market Risks and Future Outlook - The company expects continued challenges in the Asia travel retail business and overall softness in prestige beauty in mainland China, negatively impacting net sales and profitability[184]. - The effective tax rate is expected to be adversely affected by changes in the geographical mix of earnings due to ongoing business disruptions[184]. - The company is evaluating its inventory position, which may lead to increased charges in future periods[184]. - Inflation is expected to continue impacting operating results, prompting plans for new product introductions at higher prices and operational efficiencies[313]. - A hypothetical 10% weakening of the U.S. dollar would have resulted in a net decrease in the fair value of the foreign currency portfolio by approximately $254 million as of December 31, 2023[329]. - The estimated fair value of interest rate derivatives would decrease by approximately $53 million based on a hypothetical 100 basis point increase in interest rates as of December 31, 2023[331]. - The company has no off-balance sheet arrangements that would materially affect its financial condition or results of operations[333]. - There have been no significant changes to pension and post-retirement funding since the last annual report[322]. - The company continues to manage market risks through foreign currency forward contracts to mitigate fluctuations in exchange rates[329]. - The company reported a favorable change in working capital, reflecting improvements in inventory and promotional merchandise[318]. - No responsibility is assumed to update forward-looking statements made in the report[342]. - Market risk information is detailed in Item 2 of the Quarterly Report under Liquidity and Capital Resources[343].

Investors are always looking for stocks that are poised to beat at earnings season and The Estee Lauder Companies Inc. (EL) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because The Estee Lauder Companies is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information ...

NEW YORK--(BUSINESS WIRE)--Clinique and Icahn School of Medicine at Mount Sinai today announced a philanthropic partnership to establish the Mount Sinai-Clinique Healthy Skin Dermatology Center. The Center will develop forward-thinking research in dermatology, exploring the biological underpinnings of how skin ages, skin allergies and inflammatory or eczematous skin conditions, including eczema (or atopic dermatitis) and contact dermatitis. Rooted in a shared mission to conduct dermatological research that ...

The Estee Lauder Companies Inc. (EL) is likely to register top-and bottom-line decline when it reports second-quarter fiscal 2024 earnings on Feb 5.The Zacks Consensus Estimate for revenues is pegged at $4.2 billion, suggesting a decrease of 9.3% from the prior-year quarter’s reported figure.The Zacks Consensus Estimate for the bottom line has remained unchanged in the past 30 days at 55 cents per share. The projection indicates decline of 64.3% from the figure reported in the year-ago period quarter. The c ...

In its upcoming report, Estee Lauder (EL) is predicted by Wall Street analysts to post quarterly earnings of $0.55 per share, reflecting a decline of 64.3% compared to the same period last year. Revenues are forecasted to be $4.2 billion, representing a year-over-year decrease of 9.2%.The consensus EPS estimate for the quarter has been revised 0.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during ...

NEW YORK--(BUSINESS WIRE)--The Estée Lauder Companies Inc. (NYSE: EL) will release its fiscal 2024 second quarter results on February 5, 2024. On that date, at 9:30 a.m. (ET), the Company will provide a live webcast of its conference call discussing the results, future prospects and recent corporate developments. Fabrizio Freda, President and CEO, and Tracey T. Travis, EVP and CFO, will host the call. Those wishing to access the webcast can visit http://www.elcompanies.com/investors. The call will be arch ...

The market expects Estee Lauder (EL) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 5, 2024, might help the stock move higher if these key numbers are ...

The Estee Lauder Companies Inc. (EL) has a strong presence in emerging markets, which insulates it from the macroeconomic headwinds in the matured markets. The beauty company boasts a strong online business. Management is on track with the profit recovery plan to rebuild its profit margins for the future. However, the company is not immune to incremental external headwinds.Let’s delve deeper.Solid Emerging Market PresenceThe Estee Lauder Companies generates major revenues from emerging markets, which encour ...

If you suffered losses exceeding $100,000 investing in Estee stock or options between August 18, 2022 and May 2, 2023 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/EL.There is no cost or obligation to you.NEW YORK, Jan. 11, 2024 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against ...