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Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently The Estée Lauder Companies runs and where it’s prioritizing investment.Core SG&A is relatively controlled and seasonal (Q4 peaks, Q1 troughs), but headline operating expenses are highly volatile because of lumpy restructuring and impairment hits. Management’s expanded restructuring plan and the $1.5–$1.7B pre‑tax charge explain recent spikes; goodwill/intangible write‑downs (notably mid‑2024 and mid‑2025) are one‑offs. For investors, focus on SG&A ex‑restructuring/impairments and PRGP delivery—those underlying costs drive sustainable margin improvement, while future one‑time charges remain the primary risk to near‑term EPS and cash flow.
Date | Selling, General, and Administrative | Restructuring and Other | Goodwill Impairment | Litigation | Impairment of Intangible and Other Long Lived Assets | Impairment of Goodwill & Other Intangible Assets |
|---|---|---|---|---|---|---|
Jun 30, 2026 | $9.69B | $813.00M | $0.00 | $84.00M | $0.00 | $0.00 |
Mar 31, 2026 | $2.28B | $224.00M | $0.00 | $0.00 | $0.00 | $0.00 |
Dec 31, 2025 | $2.63B | $207.00M | $0.00 | $0.00 | $0.00 | $0.00 |
Sep 30, 2025 | $2.30B | $89.00M | $0.00 | $0.00 | $0.00 | $0.00 |
Jun 30, 2025 | $2.31B | $106.00M | $0.00 | $0.00 | $425.00M | $0.00 |
Mar 31, 2025 | $2.26B | $97.00M | $0.00 | $0.00 | $0.00 | $0.00 |
Dec 31, 2024 | $2.58B | $181.00M | $0.00 | $0.00 | $0.00 | $861.00M |
Sep 30, 2024 | $2.30B | $97.00M | $0.00 | $0.00 | $159.00M | $0.00 |
Jun 30, 2024 | $2.44B | $96.00M | $291.00M | $0.00 | $180.00M | $0.00 |
Mar 31, 2024 | $2.28B | $18.00M | $0.00 | $0.00 | $0.00 | $0.00 |