Estée Lauder held its fiscal 2026 Q4 earnings call with the CEO, the CFO, the head of investor relations, and analysts.
Full-year organic sales rose 3%; operating margin expanded 320 bps; diluted EPS climbed 66% to USD 2.51; operating cash flow was USD 1.8 billion.
Fiscal 2027 outlook: organic net sales growth of 3%-5%; operating margin of 12.7%-13.5%; diluted EPS of USD 3.10-USD 3.35; tax rate of 33%-34%.
Travel retail returned to positive sales in June-July for the first time in three years; inventory was described as aligned with demand; the channel is about 15%.
Management ruled out transformational M&A “for the foreseeable future”; cash priorities include debt paydown, dividend, and consumer-facing capital spending.
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