EL · 10-K · 2026A · Full report

Restructuring Charges

ESTEE LAUDER COMPANIES INC · 2026-08-19 · Importance 83 · Surprise 82

Charges associated with restructuring and other activities were $823 million in fiscal 2026, up $337 million, or about 69%, from $486 million in fiscal 2025. The company attributed lower employee-related costs to initiatives under the PRGP, with those savings largely offset by higher employee incentive costs in fiscal 2026. PRGP benefits also contributed to lower cost of sales in Asia/Pacific and lower non-consumer-facing expenses in Hair Care during fiscal 2026.

Key facts

• ESTEE LAUDER COMPANIES INC's ability to capitalize on opportunities for improved efficiency, including publicly announced strategies and restructuring and cost-savings initiatives, and to integrate acquired businesses and realize value from them could affect results. source