The company said skin care net sales rose 8% for the 3 months ended March 31, 2024, mainly driven by higher net sales from La Mer and Estée Lauder, which it said reflected higher net sales in its Asia travel retail business.

1. 01

   The company said skin care net sales rose 8% for the 3 months ended March 31, 2024, mainly driven by higher net sales from La Mer and Estée Lauder, which it said reflected higher net sales in its Asia travel retail business.

2. 02

   The Estée Lauder Companies said the increase in reported operating margin for the 3 months ended March 31, 2024 was primarily driven by higher net sales, higher gross margin and a lower operating expense margin. On the same basis, it said operating margin for the 9 months decreased.

3. 03

   The company said cash and cash equivalents were $3,701 million as of March 31, 2024, compared with $4,029 million as of June 30, 2023. Its debt-to-total-capitalization ratios were 57% and 59%, respectively.

4. 04

   The company said it notified the minority interest holders in DECIEM that it will exercise its option to buy the remaining DECIEM shares in April 2024, with the purchase price based on DECIEM’s performance. The company said the related settlement will take place in the fiscal 2024 Q4.

Key figures

Quarter ended March 31, 2024

Revenue

$3.9B

Operating income

$531M

Net income

$335M

EPS

$0.91

Gross profit

$2.8B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.