Net sales increased 6% for the Estée Lauder Companies in Q2 2026. Organic net sales increased 4%.

The company said it attributes its “excellent” results to its Beauty Reimagined strategy, which officials said “invigorated” business during its biggest operational, leadership and cultural transformation in company history.

On its one-year anniversary, we raise our fiscal 2026 outlook confident in the strength of our turnaround, even as our second half reflects previously expected headwinds and now-greater consumer-facing investments, as we expect to restore organic sales growth and expand our operating margin for the first time in four years,” said CEO and President Stéphane de La Faverie.

Skin Care

Skin Care net sales increased 6%, primarily driven by growth from La Mer, Estée Lauder and The Ordinary. Net sales growth from La Mer was fueled by strong performance during key shopping moments and holiday—supported by increased consumer-facing investments—reflecting growth from The Treatment Lotion and Crème de la Mer product franchises as well as The Renewal Oil.
Net sales from Estée Lauder increased, similarly benefiting from performance during key shopping moments and holiday, as well as innovation across the Revitalizing Supreme+, Re-Nutriv and Advanced Night Repair product franchises.

Net sales from The Ordinary increased, benefitting from targeted expanded consumer reach and existing distribution growth, as well as successful consumer activations, including those supporting the launch of Volufiline 92% + Pal-Isoleucine 1% Targeted Plumping Serum. Skin Care operating income increased, primarily due to the increase in net sales as well as net benefits from the PRGP— which helped to reduce non-consumer-facing expenses—partially offset by increased consumer-facing investments to support key activations and new product launches.

Makeup

Makeup net sales decreased 1%, primarily driven by Estée Lauder, partially offset by MAC Cosmetics.
Net sales from Estée Lauder declined, primarily due to an accrual for estimated returns of the existing Double Wear Stay-in-Place Long Wear Matte Foundation ahead of the launch of its next-generation of Double Wear matte innovation, which launched in February 2026.

MAC net sales increased, primarily driven by initial shipments for the March 2026 launch in select U.S. Sephora locations as well as online and in Sephora at Kohl’s. The growth also reflects continued success from the lip subcategory, fueled by its hero product Lip Pencil as well as Lipglass Air.

Makeup operating results improved to income from a loss in the prior-year period, which included $258 million of goodwill and other intangible asset impairments relating to Tom Ford and Too Faced.

Fragrance

Fragrance net sales increased 6%, driven by high-single-digit growth from the company’s luxury brands—which grew across all geographic regions—led by Tom Ford, Le Labo and Kilian Paris.

Net sales from Tom Ford increased, fueled by innovation—including Oud Voyager, Figue Érotique and Soleil Neige—which created a halo effect that benefited existing Private Blend and Signature product sales. Net sales also benefited from targeted expanded consumer reach. Net sales growth from Le Labo was primarily driven by its Classic Collection, including growth from the juice subcategory, as well as body with the launch of perfuming hand creams. Targeted expanded consumer reach also contributed to growth.

Kilian Paris net sales increased, primarily reflecting the success of existing products—such as the Angels’ Share Collection product franchise— as well as the launch of Angels’ Share on the Rocks and targeted expanded consumer reach.

Fragrance operating results improved to income from a loss in the prior-year period, which included a $549 million other intangible asset impairment charge relating to Tom Ford. These results also reflect the increase in net sales, partially offset by increased consumer-facing investments to support key activations, distribution expansion and new product launches.

Hair Care

Hair care net sales returned to growth, increasing 5%, primarily driven by distribution expansion and the success of Multi-Peptide Serum for Hair Density from The Ordinary, as well as initial shipments for Bumble and bumble’s SalonCentric launch in February 2026.

Hair care operating results improved to income from a loss in the prior-year period, primarily driven by the increase in net sales.