Q1 FY27 · Ended Sep 30, 2026 · View SEC filing
Costs barely moved, so sales growth reached profit
Total operating expenses rose 0.8% while sales rose 6.7%, so most of the extra gross profit reached operating income.
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Gross margin matches the peak sales year, yet operating margin trails it, so the remaining gap lies in operating costs.
Net earnings of $233 million came with negative free cash flow, repeating last year's September-quarter pattern of stocking retailers.
Fragrance volume grew 20% against 3% in skin care, the largest category, led by Le Labo, TOM FORD and Jo Malone London.
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Business Lens describes Estée Lauder from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
