Stock Analysis on Net
Stock Analysis on Net

Estée Lauder Cos. Inc. (NYSE:EL)

$22.49

This company has been moved to the archive! The financial data has not been updated since August 18, 2023.

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Paying user area

Try for free

Estée Lauder Cos. Inc. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Apple Pay Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Estée Lauder Cos. Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017
Net sales
Cost of sales
Gross profit
Selling, general and administrative
Restructuring and other charges
Goodwill impairment
Impairment of other intangible assets
Operating expenses
Operating income
Interest expense
Interest income and investment income, net
Other components of net periodic benefit cost
Other income
Earnings before income taxes
Provision for income taxes
Net earnings (loss)
Net (earnings) loss attributable to noncontrolling interests and redeemable noncontrolling interest
Net earnings (loss) attributable to The Estée Lauder Companies Inc.

Based on: 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30).

The quarterly financial data of the company reveals several key trends and variations over the time periods analyzed.

Net Sales
Net sales exhibited a generally increasing trend from 2017 through 2019, reaching a peak in December 2019 at $4624 million. However, a noticeable decline occurred starting in the first half of 2020, coinciding with global disruptions, with sales dropping to $2430 million in June 2020. Following this trough, net sales recovered sharply, peaking again in December 2021 at $5539 million, before experiencing gradual fluctuations and a moderate decline towards mid-2023.
Cost of Sales and Gross Profit
Cost of sales followed a trajectory similar to net sales, generally increasing over the years but showing temporary decreases in early and mid-2020. Gross profit correspondingly peaked in December 2021 at $4316 million, supporting the growth in net sales during that period. The gross profit margins appeared fairly stable across the periods, though profits dropped sharply in the mid-2020 quarters reflecting decreased sales and consistent cost levels during the downturn.
Selling, General and Administrative Expenses
SG&A expenses maintained a persistent increase over the years, reflecting ongoing investments or rising costs in the company’s operations. The expenses showed peaks in December quarters, which could indicate seasonal or strategic spending patterns. Despite some fluctuations, the overall upward trend suggests sustained operational intensity.
Restructuring and Other Charges
These charges were generally low but variable, with occasional spikes such as in March 2021. There is no consistent trend, indicating episodic restructuring activities throughout the period.
Goodwill and Intangible Asset Impairments
Impairments were reported intermittently, notably large in periods ending December 2018 and December 2019, with goodwill impairments reaching significant amounts (e.g., -$511 million in December 2019). This reflects periodic revaluations and impairments impacting profitability and asset values in those years.
Operating Income
Operating income exhibited substantial volatility, with peaks seen in December quarters of 2017, 2018, and 2021. There was a pronounced dip below zero in June 2020 (-$543 million), aligning with the reduction in sales and increased challenges during that quarter. The recovery after mid-2020 is strong, with a peak of $1418 million in December 2021, but some softness is observed again in 2023.
Interest Expense and Income
Interest expense was relatively stable but showed gradual increases towards the later periods, peaking notably in June 2023 at $99 million. Interest and investment income fluctuated, with increases in recent quarters, likely reflecting changing investment yields or financial management strategies.
Other Income and Expense Components
Other income presented large variances, with significant positive spikes in certain quarters such as June 2019 and December 2020, which positively influenced earnings before taxes. Other components of net periodic benefit cost remained generally low but occasionally negative, impacting specific periods subtly.
Earnings Before Income Taxes and Net Earnings
Earnings before income taxes rose and fell in accordance with operating income trends, showing sharp declines during mid-2020. Net earnings followed a similar pattern, dropping to losses in early and mid-2020 quarters, before a strong rebound in subsequent periods, achieving peaks in late 2021. The net earnings attributable to the company largely mirror these movements, confirming its alignment with overall earnings trends.
Provision for Income Taxes
The provision for income taxes was generally consistent with earnings before taxes, fluctuating in response to profitability. Positive tax provisions often coincided with profitable quarters, whereas some quarters – notably mid-2020 – experienced tax benefits aligning with net losses.

In summary, the financial data shows the company experienced strong growth through 2019, followed by a significant downturn associated with mid-2020 events. A robust recovery took place throughout 2021, leading to record quarterly results in several areas such as gross profit and operating income. More recently, the data indicates some moderation in growth and earnings stability. Operational costs, including SG&A, steadily increased, reflecting sustained investment or inflationary pressures. The presence of substantial asset impairments signals occasional restructuring or strategic reassessments impacting the company’s asset base.