The Estée Lauder Companies reported net sales of $4.004 billion for its second quarter ended December 31, 2024, a decrease of 6% from $4.279 billion in the prior year. Organic net sales also decreased by 6%.
The company reported a net loss of $580 million, compared to net earnings of $574 million in the prior year, primarily due to $861 million in goodwill and other intangible asset impairment charges. Diluted net loss per common share was $1.64, while adjusted diluted net earnings per common share decreased 29% to $0.62.
Estée Lauder launched its 'Beauty Reimagined' strategic vision and expanded its Profit Recovery and Growth Plan (PRGP), which includes a net reduction of approximately 5,800 to 7,000 positions globally. Total restructuring charges are estimated between $1.2 billion and $1.6 billion, expected to yield annual gross benefits of $0.8 billion to $1.0 billion. The company provided a fiscal 2025 third quarter outlook, expecting organic net sales to decrease 10% to 8% and adjusted diluted EPS between $0.20 and $0.30, and declared a quarterly dividend of $0.35 per share.
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