Estée Lauder beats Q3 estimates, raises full-year outlook, and expands job cuts to 10,000 roles.

Estée Lauder reported stronger-than-expected Q3 results with revenue of $3.71 billion and adjusted EPS of $0.91, surpassing analyst estimates. The company raised its full-year organic sales growth forecast to about 3% and lifted adjusted EPS guidance to $2.35-$2.45. Growth was driven by brands like The Ordinary and Tom Ford, with fragrance sales up 10%. However, the company plans to expand its workforce reduction program to cut up to 10,000 jobs, mainly from underperforming department store roles, expecting restructuring charges of $1.5-$1.7 billion and annual savings of $1-$1.2 billion starting fiscal 2027. Shares rose over 8% following the announcement.