---
schema_version: "secwatch.filing_event.v1"
accession: "0001001250-24-000005"
form_type: "8-K"
ticker: "EL"
cik: "0001001250"
company_name: "ESTEE LAUDER COMPANIES INC"
filed_at: "2024-02-05T23:59:59+00:00"
generated_at: "2026-06-06T08:54:03.764353+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Estée Lauder Q2 net sales down 7%; announces restructuring program with 1,800-3,000 job cuts

## Summary
- Q2 net sales $4.28B (-7% YoY); adjusted EPS $0.88 (43% decline); organic sales -8%; exceeded adjusted EPS outlook.
- Restructuring program to cut 1,800-3,000 jobs; charges $500M-$700M; expects $350M-$500M annual gross benefits; part of expanded Profit Recovery Plan.
- FY2024 outlook: narrowing organic sales range; lowering adjusted EPS to reflect ~35% effective tax rate; reaffirming operating margin.
- Skin Care -10% driven by Asia travel retail/China; The Ordinary and La Mer grew double digits; Makeup -8% with Clinique strong.
- Fragrance flat; Le Labo double-digit growth; Jo Malone London up; Estée Lauder fragrance declined.

## SEC filing metadata
- accession: 0001001250-24-000005
- form_type: 8-K
- ticker: EL
- cik: 0001001250
- company_name: ESTEE LAUDER COMPANIES INC
- filed_at: 2024-02-05T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1001250/000100125024000005/0001001250-24-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1001250/000100125024000005/el-20240201.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001001250-24-000005
- JSON: https://secwatch.observer/filing/0001001250-24-000005.json
- Plain text: https://secwatch.observer/filing/0001001250-24-000005.txt

## Key facts
- Earnings Releases
  ESTEE LAUDER COMPANIES INC reported fiscal 2024 second quarter ended December 31, 2023 results: revenue $4.28 billion, net income $313 million, EPS $.87. Guidance lowered.
  - Period: fiscal 2024 second quarter ended December 31, 2023
  - Revenue: $4.28 billion
  - Net income: $313 million
  - EPS: $.87
  - Guidance: lowered
  - Result: reported results
  source text: The Estée Lauder Companies Inc. (NYSE: EL) today reported net sales of $4.28 billion for its second quarter ended December 31, 2023, a decline of 7% from $4.62 billion in the prior-year period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1001250/000100125024000005/0001001250-24-000005-index.htm
- Restructurings & Charges
  ESTEE LAUDER COMPANIES INC announced a restructuring with charges of restructuring and other charges totaling between $500 million and $700 million, before taxes affecting reorganization and rightsizing of certain areas of the Company (net reduction in the range of approximately 1,800 to 3,000 positions globally).
  - Type: restructuring
  - Charge: restructuring and other charges totaling between $500 million and $700 million, before taxes
  - Affected area: reorganization and rightsizing of certain areas of the Company
  - Headcount: net reduction in the range of approximately 1,800 to 3,000 positions globally
  source text: The Company expects that the restructuring program will result in restructuring and other charges totaling between $500 million and $700 million, before taxes, consisting of employee-related costs, contract terminations, asset write-offs and other costs associated with implementing these initiatives.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1001250/000100125024000005/0001001250-24-000005-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.