Full Year Net Sales Increase 9% for The Estée Lauder Companies

The Estée Lauder Companies Inc. is on a roll. 

 

The company today reported that revenue is $17.74 billion for its fiscal year ended June 30, an increase of 9% from $16.22 billion in the prior-year period. 

 

Organic net sales increased 8% driven by double-digit growth in The Americas and Europe, the Middle East & Africa (“EMEA”) regions, largely reflecting a recovery in brick-and-mortar retail stores, as well as double-digit growth in global online and growth in travel retail.

 

“We delivered excellent results in fiscal 2022, exceeding our expectations in the fourth quarter and achieving record revenue and profitability on an adjusted basis for the year,” said Fabrizio Freda, president and CEO. “Our multiple engines of growth strategy proved invaluable amid pandemic and macro complexity, affording us the diversification to seize growth of the moment. The Americas and Europe, Middle East, Africa prospered, fragrance soared, and makeup realized the promise of its emerging renaissance.

 

La Mer, MAC and Jo Malone London led the contribution of double-digit organic sales growth by nine brands, despite significant pressure from COVID-19 in Asia/Pacific at the end of the year, Freda said. Brick-and-mortar and online also grew globally, as the company capitalized on reopening, extended its consumer reach in high-growth channels, and amplified its omni-channel capabilities.

 

The company reported net earnings of $2.39 billion, compared with net earnings of $2.87 billion in the prior-year period. Diluted net earnings per common share was $6.55, compared with $7.79 reported in the prior-year period. Excluding restructuring and other charges and adjustments, adjusted diluted net earnings per common share was $7.24, a 12% increase in constant currency.