Estee Lauder Files 8-K/A Amendment on Exit Costs
Ticker: EL · Form: 8-K/A · Filed: Dec 20, 2024 · CIK: 1001250
| Field | Detail |
|---|---|
| Company | Estee Lauder Companies INC (EL) |
| Form Type | 8-K/A |
| Filed Date | Dec 20, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $500 million, $700 million, $122 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: amendment, restructuring, financial-reporting
Related Tickers: EL
TL;DR
Estee Lauder filed an 8-K/A amendment on Feb 1, 2024, detailing exit/disposal costs.
AI Summary
Estée Lauder Companies Inc. filed an amendment (Amendment No. 2) to its Form 8-K on February 1, 2024, reporting on costs associated with exit or disposal activities. The filing details financial statements and exhibits related to these activities, with the date of the report and the date of change both being February 1, 2024.
Why It Matters
This amendment provides updated financial information regarding restructuring or disposal activities, which can impact the company's future profitability and operational structure.
Risk Assessment
Risk Level: low — This is an amendment to a previous filing, primarily providing updated financial details and exhibits related to exit or disposal activities, rather than announcing new material events.
Key Players & Entities
- Estée Lauder Companies Inc. (company) — Registrant
- February 1, 2024 (date) — Date of Report and Date of Change
- Amendment No. 2 (document_part) — Type of filing
FAQ
What specific exit or disposal activities are being reported in this 8-K/A amendment?
The filing indicates it pertains to 'Cost Associated with Exit or Disposal Activities' and includes 'Financial Statements and Exhibits' related to these activities, but specific details of the activities themselves are not elaborated in the provided text.
What is the significance of this being an '8-K/A' filing?
An 8-K/A is an amendment to a previously filed Form 8-K, suggesting that the company is providing additional information or correcting details related to an event previously reported.
What is the exact date of the earliest event reported in this filing?
The earliest event reported is dated February 1, 2024, which is also listed as the Date of Report and Date as of Change.
What is the principal executive office address for Estée Lauder Companies Inc.?
The principal executive offices are located at 767 Fifth Avenue, New York, New York 10153.
What is the SIC code for Estée Lauder Companies Inc.?
The Standard Industrial Classification (SIC) code for Estée Lauder Companies Inc. is 2844, which corresponds to 'Perfumes, Cosmetics & Other Toilet Preparations'.
Filing Stats: 1,257 words · 5 min read · ~4 pages · Grade level 15.4 · Accepted 2024-12-20 16:01:08
Key Financial Figures
- $500 million — itiatives are expected to total between $500 million and $700 million (before tax). At that
- $700 million — ected to total between $500 million and $700 million (before tax). At that time, the Company
- $122 million — ring and other charges of approximately $122 million (before tax) in connection with these i
Filing Documents
- el-20240201.htm (8-K/A) — 62KB
- 0001001250-24-000263.txt ( ) — 188KB
- el-20240201.xsd (EX-101.SCH) — 2KB
- el-20240201_lab.xml (EX-101.LAB) — 22KB
- el-20240201_pre.xml (EX-101.PRE) — 13KB
- el-20240201_htm.xml (XML) — 3KB
05. Costs Associated with Exit or Disposal Activities
Item 2.05. Costs Associated with Exit or Disposal Activities. As announced on November 1, 2023, The Este Lauder Companies Inc. (the "Company") launched the Profit Recovery and Growth Plan ("PRGP") to help progressively rebuild its profit margins in fiscal years 2025 and 2026. The PRGP is focused on rebuilding stronger, more sustainable profitability, supporting sales growth acceleration and increasing speed and agility. The plan is designed to improve gross margin, lower the cost base and reduce overhead expenses, while increasing investments in key consumer-facing activities. Upon completion of this plan, the Company expects to have improved its gross margin and expense base to drive greater operating leverage for the future. As a component of the PRGP, on February 5, 2024, the Company announced a two-year restructuring program ("Restructuring Program") and filed a Current Report on Form 8-K. The Restructuring Program's main focus includes the reorganization and rightsizing of certain areas of the Company as well as simplification and acceleration of processes. The Company committed to this course of action on February 1, 2024. The Restructuring Program is expected to include a number of initiatives, and the Company indicated that restructuring and other charges to implement those initiatives are expected to total between $500 million and $700 million (before tax). At that time, the Company was unable to make a determination of the estimated amount or range of amounts to be incurred by major cost type and future cash expenditures pursuant to the Restructuring Program. The Company has since disclosed information about specific initiatives approved under the Restructuring Program, including in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 filed on October 31, 2024, which provided information about specific initiatives approved cumulatively through October 25, 2024. The Company is filing this Form 8-K/A to provide detai
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. THE ESTE LAUDER COMPANIES INC. Date: December 20, 2024 By: /s/ Akhil Shrivastava Akhil Shrivastava Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer) 4