The Estee Lauder (0JTM.L) Q1 2026 Earnings Report

Estee Lauder Companies reported a cautious but improving start to QQ1 2026, with revenue of $3.481 billion, up 3.6% year-over-year and 2.2% quarter-over-quarter. The topline strength translated into a robust gross margin of 73.37% ($2.554 billion in gross profit), signaling sustained pricing power and favorable product mix across key brands. However, the company posted a modest operating income of $169 million and net income of $47 million, with an EBITDA of $395 million, underscoring that substantial SG&A and other operating costs continue to compress profitability at the margin.