Analyst Consensus ?
ConsensusHold45 ratings
Bullish1942.2%
Neutral2248.9%
Bearish48.9%
The Estée Lauder Companies Inc. · EL · FY2026 Q3 · Calendar Q2 2026
Estée Lauder Raises FY26 Outlook on Fragrance Strength and Digital Growth in Q3
Estée Lauder delivered a strong fiscal Q3 beat, with EPS of $0.91 versus the $0.65 consensus and revenue of $3.72B slightly ahead of the $3.69B estimate. The company raised its FY26 outlook for the second consecutive quarter, now targeting 3% organic sales growth and a 10.7%–11% operating margin. Fragrance was the standout category with double-digit organic growth, while online sales grew 10% year-to-date, fueled by Amazon Premium Beauty, TikTok Shop, and Sephora channel expansion. Management announced the full acquisition of Forest Essentials—India's top prestige skincare brand—and a minority investment in 111Skin, extending the portfolio into high-growth emerging markets and premium niches. The stock rose 3.4% on the report with a 7.9% subsequent drift, on 1.8x baseline volume. With new FY27 guidance pointing to 3%–5% growth and 12.5%–13% margins, management is signaling confidence…
Reported Before market openNYSEConsumer Defensive
$30.43B market cap
100quality score
Company context
Snapshot as of publicationThe Estée Lauder Companies Inc. is a global entity dedicated to the development, marketing, and sale of a diverse range of premium beauty and personal care items worldwide. Its extensive product catalog encompasses numerous offerings across four primary categories. For skin care, it provides moisturizers, serums, cleansers, toners, body treatments, exfoliants, acne and oil control solutions, facial masks, specialized cleansing devices, and sun protection. In makeup, consumers can find lipsticks, glosses, mascaras, foundations, eyeshadows, nail polishes, powders, compacts, brushes, and various other cosmetic tools. The fragrance segment includes eau de parfum sprays, colognes, scented lotions, powders, creams, candles, and soaps.…
Earnings scorecard
Reported versus consensus
Reported EPS
$0.91
Consensus $1
EPS surprise
+40.4%
Reported versus consensus
Reported revenue
$3.71B
Consensus $3.69B
Revenue surprise
+0.6%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$85.29Current
$60Low
$142.36Average
$360High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Jefferies | Hold | Hold | Maintain | Jul 28, 2026 |
| TD Cowen | Hold | Hold | Maintain | Jul 21, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jul 21, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 16, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 16, 2026 |
| Citigroup | Buy | Buy | Maintain | May 22, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | May 4, 2026 |
| Telsey Advisory Group | Market Perform | Market Perform | Maintain | May 4, 2026 |
| Canaccord Genuity | Hold | Hold | Maintain | May 4, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Mar 30, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Feb 3, 2026 |
| Raymond James | Strong Buy | Market Perform | Upgrade | Jan 5, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Dec 16, 2025 |
| Rothschild & Co | Sell | Neutral | Downgrade | Nov 25, 2025 |
| Argus Research | Buy | Hold | Upgrade | Nov 11, 2025 |
| Goldman Sachs | Buy | Neutral | Upgrade | Oct 13, 2025 |
| HSBC | Buy | Hold | Upgrade | Jun 27, 2025 |
| Piper Sandler | Overweight | Overweight | Maintain | May 2, 2025 |
| B. Riley Securities | Neutral | Neutral | Maintain | May 2, 2025 |
| Stifel | Hold | Hold | Maintain | Apr 10, 2025 |
| DA Davidson | Buy | Buy | Maintain | Feb 25, 2025 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Feb 6, 2025 |
| B of A Securities | Neutral | Neutral | Maintain | Nov 1, 2024 |
| Oppenheimer | Perform | Perform | Maintain | Apr 15, 2024 |
| Berenberg | Hold | Buy | Downgrade | Nov 3, 2023 |
| Redburn Atlantic | Neutral | Sell | Upgrade | Sep 15, 2023 |
| Bernstein | Market Perform | Outperform | Downgrade | Aug 24, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Feb 6, 2023 |
| Redburn Partners | Sell | Sell | Maintain | Dec 15, 2022 |
| Piper Jaffray | Neutral | Overweight | Downgrade | Oct 28, 2019 |
| Stifel Nicolaus | Buy | Buy | Maintain | Aug 20, 2019 |
| Bank of America | Buy | Buy | Maintain | Aug 20, 2019 |
| Macquarie | Outperform | Outperform | Maintain | May 2, 2019 |
| D.A. Davidson | Neutral | Buy | Downgrade | May 2, 2019 |
| BMO Capital | Market Perform | Market Perform | Maintain | May 2, 2019 |
| Atlantic Equities | Overweight | Overweight | Maintain | Sep 20, 2018 |
| B. Riley FBR | Neutral | Buy | Downgrade | May 5, 2018 |
| Argus | Hold | Buy | Downgrade | May 5, 2018 |
| Keybanc | Overweight | Overweight | Maintain | Nov 2, 2017 |
| Societe Generale | Hold | Buy | Downgrade | May 5, 2017 |
| PiperJaffray | Overweight | Neutral | Upgrade | Mar 2, 2017 |
| CSLA | Underperform | Buy | Downgrade | Nov 3, 2016 |
| CLSA | Underperform | Buy | Downgrade | Nov 3, 2016 |
| B. Riley | Neutral | Neutral | Maintain | Nov 3, 2015 |
| FBR Capital | Outperform | Outperform | Maintain | Aug 21, 2015 |
Named analyst price targets
Upside is calculated against the persisted current price $85.29. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Jefferies | Analyst unavailable | $88 | $83.2 | +3.2% | Jul 28, 2026 |
| Cowen & Co. | Analyst unavailable | $90 | $82.12 | +5.5% | Jul 21, 2026 |
| Barclays | Analyst unavailable | $80 | $83.64 | -6.2% | Jul 21, 2026 |
| UBS | Peter Grom | $86 | $82.75 | +0.8% | Jul 16, 2026 |
| Goldman Sachs | Bonnie Herzog | $100 | $84.81 | +17.2% | Jun 22, 2026 |
| Bernstein | Cristian Rios | $82 | $88.02 | -3.9% | Jun 11, 2026 |
| Piper Sandler | Analyst unavailable | $95 | $80.83 | +11.4% | May 15, 2026 |
| Barclays | Analyst unavailable | $75 | $81.33 | -12.1% | May 5, 2026 |
| UBS | Peter Grom | $85 | $81.7 | -0.3% | May 4, 2026 |
| Telsey Advisory | Dana Telsey | $90 | $82.25 | +5.5% | May 4, 2026 |
| Morgan Stanley | Dara Mohsenian | $90 | $81.96 | +5.5% | May 4, 2026 |
| Wells Fargo | Analyst unavailable | $85 | $79.3 | -0.3% | May 4, 2026 |
| Barclays | Lauren Lieberman | $72 | $74.86 | -15.6% | Apr 14, 2026 |
| RBC Capital | Nik Modi | $111 | $73.29 | +30.1% | Apr 9, 2026 |
| Wells Fargo | Analyst unavailable | $75 | $71.44 | -12.1% | Apr 8, 2026 |
| HSBC | Erwan Rambourg | $106 | $99.01 | +24.3% | Feb 10, 2026 |
| Wells Fargo | Analyst unavailable | $105 | $96.66 | +23.1% | Feb 6, 2026 |
| UBS | Analyst unavailable | $107 | $96.66 | +25.5% | Feb 6, 2026 |
| Barclays | Lauren Lieberman | $94 | $96.66 | +10.2% | Feb 6, 2026 |
| Deutsche Bank | Steve Powers | $128 | $115.4 | +50.1% | Jan 29, 2026 |
| Argus Research | Analyst unavailable | $140 | $117.69 | +64.1% | Jan 26, 2026 |
| Barclays | Analyst unavailable | $100 | $114.22 | +17.2% | Jan 16, 2026 |
| UBS | Analyst unavailable | $119 | $115.37 | +39.5% | Jan 14, 2026 |
| Jefferies | Analyst unavailable | $110 | $115.37 | +29.0% | Jan 14, 2026 |
| Wells Fargo | Analyst unavailable | $111 | $107.58 | +30.1% | Jan 5, 2026 |
| Raymond James | Strong Buy | $130 | $106.76 | +52.4% | Jan 5, 2026 |
| Evercore ISI | Robert Ottenstein | $125 | $102.46 | +46.6% | Dec 16, 2025 |
| Redburn Partners | Chris Pitcher | $70 | $93.39 | -17.9% | Nov 25, 2025 |
| Barclays | Analyst unavailable | $91 | $96.69 | +6.7% | Nov 3, 2025 |
| RBC Capital | Nik Modi | $113 | $97.33 | +32.5% | Oct 31, 2025 |
| UBS | Peter Grom | $105 | $96.63 | +23.1% | Oct 31, 2025 |
| Canaccord Genuity | Analyst unavailable | $100 | $102.16 | +17.2% | Oct 27, 2025 |
| Goldman Sachs | Analyst unavailable | $115 | $87.65 | +34.8% | Oct 13, 2025 |
| Canaccord Genuity | Susan Anderson | $85 | $91.2 | -0.3% | Aug 18, 2025 |
| Berenberg Bank | Analyst unavailable | $60 | $66.08 | -29.7% | Mar 25, 2025 |
| Telsey Advisory | Dana Telsey | $76 | $66.58 | -10.9% | Nov 1, 2024 |
| Stifel Nicolaus | Mark Astrachan | $125 | $87.15 | +46.6% | Oct 31, 2024 |
| Deutsche Bank | Steve Powers | $98 | $89.26 | +14.9% | Oct 22, 2024 |
| HSBC | Erwan Rambourg | $100 | $90.93 | +17.2% | Oct 16, 2024 |
| Evercore ISI | Robert Ottenstein | $130 | $85.13 | +52.4% | Sep 10, 2024 |
| D.A. Davidson | Linda Bolton Weiser | $130 | $92.53 | +52.4% | Sep 3, 2024 |
| Piper Sandler | Korinne Wolfmeyer | $114 | $93.99 | +33.7% | Aug 22, 2024 |
| Telsey Advisory | Dana Telsey | $105 | $92.85 | +23.1% | Aug 20, 2024 |
| UBS | Peter Grom | $104 | $92.85 | +21.9% | Aug 20, 2024 |
| Deutsche Bank | Steve Powers | $105 | $92.85 | +23.1% | Aug 20, 2024 |
| J.P. Morgan | Andrea Teixeira | $129 | $94.97 | +51.2% | Aug 19, 2024 |
| Bank of America Securities | Bryan Spillane | $100 | $95.14 | +17.2% | Aug 16, 2024 |
| RBC Capital | Nik Modi | $131 | $99.96 | +53.6% | Jul 24, 2024 |
| Barclays | Lauren Lieberman | $117 | $96.9 | +37.2% | Jul 19, 2024 |
| Barclays | Lauren Lieberman | $136 | $113.93 | +59.5% | Jun 14, 2024 |
| Morgan Stanley | Dara Mohsenian | $140 | $132.94 | +64.1% | May 3, 2024 |
| Raymond James | Olivia Tong | $155 | $132.51 | +81.7% | May 2, 2024 |
| Telsey Advisory | Dana Telsey | $142 | $127.37 | +66.5% | May 2, 2024 |
| Wells Fargo | Chris Carey | $175 | $138.21 | +105.2% | Apr 17, 2024 |
| D.A. Davidson | Linda Bolton Weiser | $191 | $138.8 | +123.9% | Apr 15, 2024 |
| Piper Sandler | Korinne Wolfmeyer | $158 | $145.43 | +85.3% | Apr 9, 2024 |
| RBC Capital | Nik Modi | $195 | $162.93 | +128.6% | Aug 16, 2023 |
| Telsey Advisory | Dana Telsey | $250 | $205.81 | +193.1% | May 8, 2023 |
| Canaccord Genuity | Susan Anderson | $228 | $222.91 | +167.3% | Nov 16, 2022 |
| Goldman Sachs | Jason English | $303 | $239.5 | +255.3% | Sep 20, 2022 |
| Morgan Stanley | Dara Mohsenian | $320 | $265.1 | +275.2% | Aug 22, 2022 |
| UBS | Peter Grom | $289 | $281.62 | +238.8% | Aug 19, 2022 |
| Telsey Advisory | Dana Telsey | $377 | $281.75 | +342.0% | Aug 18, 2022 |
| RBC Capital | Nik Modi | $322 | $249.12 | +277.5% | May 4, 2022 |
| Credit Suisse | Analyst unavailable | $320 | $246.14 | +275.2% | May 4, 2022 |
| Deutsche Bank | Analyst unavailable | $289 | $259.28 | +238.8% | Apr 27, 2022 |
| Piper Sandler | Analyst unavailable | $350 | $275.1 | +310.4% | Apr 19, 2022 |
| Barclays | Lauren Lieberman | $342 | $314.43 | +301.0% | Feb 7, 2022 |
| UBS | Peter Grom | $326 | $312.71 | +282.2% | Feb 4, 2022 |
| Bank of America Securities | Bryan Spillane | $330 | $312.71 | +286.9% | Feb 4, 2022 |
| Goldman Sachs | Jason English | $341 | $302.5 | +299.8% | Feb 3, 2022 |
| Jefferies | Stephanie Wissink | $360 | $302.5 | +322.1% | Feb 3, 2022 |
| Wells Fargo | Christopher Carey | $355 | $302.5 | +316.2% | Feb 3, 2022 |
| Piper Sandler | Korinne Wolfmeyer | $380 | $293.61 | +345.5% | Jan 25, 2022 |
| D.A. Davidson | Linda Bolton Weiser | $439 | $339.07 | +414.7% | Nov 3, 2021 |
| Raymond James | Olivia Tong | $390 | $337.32 | +357.3% | Nov 2, 2021 |
| Societe Generale | Victoria Nice | $335 | $324.8 | +292.8% | Jul 14, 2021 |
Track every rating change on EL the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
+3.4%
Event window
SPY move
+0.3%
Same window
Abnormal move
+3.1%
Stock minus SPY
Volume
1.8×
Versus trailing sessions
Subsequent drift
+7.9%
Up to 20 sessions
ELSPY benchmark
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Try FN2 freeTranscript intelligence
What changed
Guidance was raised for the second straight quarter, moving from Q2's high-end-of-range posture to a specific 3% organic growth and 10.7%–11% operating margin target. Q3 EPS grew 40% year-over-year, roughly matching Q2's 43% pace, while margin expansion accelerated to 15% from the 290 bps seen in Q2. Fragrance emerged as the lead growth category, complementing the China and travel-retail strength highlighted in the prior quarter. New portfolio actions—the Forest Essentials acquisition and 111Skin minority investment—mark a shift toward inorganic growth alongside the ongoing restructuring program, which was expanded to $1.5–$1.7B in total cost with higher gross-saving targets. Capex outlook continues to decrease.
Guidance delta
FY26 guidance raised for the second consecutive quarter: organic sales growth now targeted at 3% (previously high end of range), operating margin guided to 10.7%–11%, and EPS to $2.35–$2.45. Restructuring program expanded to $1.5–$1.7B total cost with raised gross-saving targets. New FY27 guidance introduced at 3%–5% organic sales growth and 12.5%–13% operating margin.
Key takeaways
- FY26 outlook raised to 3% organic sales growth and 10.7%–11% operating margin, with EPS guided to $2.35–$2.45
- Q3 EPS of $0.91 beat consensus by 40%, with margin expansion accelerating to 15% driven by gross margin gains and SG&A efficiencies
- Fragrance delivered double-digit organic growth; online sales grew 10% year-to-date across Amazon, TikTok, and Sephora channels
- Restructuring program expanded to $1.5–$1.7B with higher gross-saving targets; capex outlook continues to decrease
- Full acquisition of Forest Essentials and minority investment in 111Skin extend portfolio into India and luxury niche skincare
Management priorities
- Complete Enterprise Business Services deployment by end of calendar 2026
- Expand channel diversification across Amazon Premium Beauty, TikTok Shop, Sephora, and Ulta
- Scale Forest Essentials presence in India and globally following full acquisition
- Execute the One ELC operating model with Accenture, Shopify, and WPP partnerships
- Launch new fragrance, skincare, and makeup products for FY27
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-30T12:11:48.461125+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-30T12:11:48.458224+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.