Estee Lauder Companies Inc (EL) · Nov 2, 2026 · Earnings

Estée Lauder earnings beat as margins surge; FY27 guidance raised

Beat — Adj. EPS $0.72 vs ~$0.50 consensus; revenue $3.715B vs ~$3.65B

Estée Lauder earnings beat consensus, with stronger margins across regions and a raised fiscal 2027 outlook despite China and macro risks.

Estée Lauder is in the early execution phase of its Beauty Reimagined turnaround: rebuilding growth, repairing margins, and stabilizing China and travel retail after a prolonged downturn. Its August 19 outlook already called for a return to growth in Makeup, continued strength in Fragrance and Skin Care, and a more diversified regional recovery.

This quarter cleared the market’s bar, not just the company’s own narrative. Revenue reached $3.715 billion versus a published consensus of roughly $3.65 billion, while adjusted EPS was $0.72 versus approximately $0.50. Organic sales rose 6%, led by Fragrance at 20% and a return to growth in Makeup, while every geographic region posted organic growth.

	Q1 FY2027	Q1 FY2026	Consensus / prior guide
Net sales (Financial Highlights)	$3.715B (+7%)	$3.481B	~$3.65B
Organic net sales (Financial Highlights)	$3.696B (+6%)	$3.480B
Adjusted operating margin (Financial Highlights)	12.1% (+480 bps)	7.3%
Adjusted diluted EPS (Financial Highlights)	$0.72 (+125%)	$0.32	~$0.50
FY2027 organic sales outlook (Outlook)	4.0%-5.5%		3.0%-5.0% prior
FY2027 adjusted EPS outlook (Outlook)	$3.20-$3.45		$3.10-$3.35 prior

The important improvement is operating leverage, not merely sales growth. Adjusted operating income rose 76% to $449 million, and adjusted margin expanded to 12.1% from 7.3%, reflecting gross-margin gains, lower non-consumer-facing costs, and restructuring benefits. The company is beginning to fund higher consumer-facing investment from a healthier cost base rather than relying only on cuts.

The regional recovery is broader than the China story, but China is still a key proof point. Mainland China organic sales grew 9%, while Asia/Pacific grew 10%; operating income in Mainland China more than doubled from $12 million to $32 million. Fragrance was the standout category, and Makeup returned to profitability, which supports management’s claim that the turnaround is becoming more diversified rather than dependent on one market or product line. 〔0〕

The raised outlook is meaningful, though still measured. Organic sales guidance moved to 4.0%-5.5% from 3.0%-5.0%, adjusted operating-margin guidance rose to 12.9%-13.7% from 12.7%-13.5%, and adjusted EPS guidance increased to $3.20-$3.45 from $3.10-$3.35. That is a real upgrade to the recovery path, but management still expects a stronger first half than second half and continues to flag geopolitical, macroeconomic, and travel-retail uncertainty. 〔1〕

Cash flow remains the main unfinished piece. Free cash flow improved to negative $235 million from negative $436 million, but operating cash flow was still negative $166 million as receivables and inventory absorbed cash. That does not offset the earnings improvement, but it means the turnaround has not yet fully translated into cash generation.

Bottom line: Estée Lauder delivered a genuine earnings beat and raised its full-year targets, showing that the turnaround is advancing faster than expected. The story is materially stronger, though sustained cash conversion and continued China recovery remain necessary to prove the improvement is durable.

What to watch next

China Capital Markets Experience, November 4, 2026

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

58% bullish

Bull 58%Neu 27%Bear 15%

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Estée Lauder earnings beat as margins surge; FY27 guidance raised

What to watch next

More Estee Lauder Companies Inc news

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