Estee Lauder Files 2024 Annual Report

Ticker: EL · Form: 10-K · Filed: 2024-08-19T00:00:00.000Z

Sentiment: neutral

Topics: annual-report, financials, cosmetics

Related Tickers: EL

TL;DR

Estee Lauder dropped its 2024 10-K. Check financials.

AI Summary

The Estée Lauder Companies Inc. filed its annual report for the fiscal year ended June 30, 2024. The company, incorporated in Delaware with its principal executive offices at 767 Fifth Avenue, New York, is registered with the SEC under file number 1-14064. Its Class A Common Stock trades on the New York Stock Exchange under the symbol EL.

Why It Matters

This filing provides a comprehensive overview of Estee Lauder's financial performance and business operations for the past fiscal year, offering insights into its strategic direction and market position.

Risk Assessment

Risk Level: low — This is a standard annual financial filing for a publicly traded company.

Key Numbers

Key Players & Entities

FAQ

What is the fiscal year end date for this 10-K filing?

The fiscal year ended on June 30, 2024.

What is the company's principal executive office address?

The principal executive offices are located at 767 Fifth Avenue, New York, New York 10153.

On which stock exchange is Estee Lauder's Class A Common Stock traded?

The Class A Common Stock is registered on the New York Stock Exchange.

What is the trading symbol for Estee Lauder's Class A Common Stock?

The trading symbol is EL.

In which state was The Estée Lauder Companies Inc. incorporated?

The company was incorporated in Delaware.

Filing Stats: 4,456 words · 18 min read · ~15 pages · Grade level 13.2 · Accepted 2024-08-19 12:59:14

Filing Documents

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 17 Item 1B. Unresolved Staff Comments 23 I tem 1C. C ybersecurity 23 Item 2.

Properties

Properties 24 Item 3.

Legal Proceedings

Legal Proceedings 24 Item 4. Mine Safety Disclosures 25 Part II: Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 Item 6. [Reserved] 27 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 54 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 55 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 55 Item 9A.

Controls and Procedures

Controls and Procedures 55 Item 9B. Other Information 55 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 55 Part III: Item 10. Directors, Executive Officers and Corporate Governance 56 Item 11.

Executive Compensation

Executive Compensation 56 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 56 Item 13. Certain Relationships and Related Transactions, and Director Independence 56 Item 14. Principal Accounting Fees and Services 56 Part IV: Item 15. Exhibits, Financial Statement Schedules 57 Item 16. Form 10-K Summary 63

Signatures

Signatures 64 Table of Contents Cautionary Note Regarding Forward-Looking Information and Risk Factors This Annual Report on Form 10-K includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may address our expectations regarding sales, earnings or other future financial performance and liquidity, other performance measures, product introductions, entry into new geographic regions, information technology initiatives, new methods of sale, our long-term strategy, restructuring and other charges and resulting cost savings, and future operations or operating results. Although we believe our expectations are based on reasonable assumptions within the bounds of our knowledge of our business and operations, we cannot assure that actual results will not differ materially from our expectations. Factors that could cause actual results to differ from expectations are described herein; in particular, see "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations – Cautionary Note Regarding Forward-Looking Information." In addition, there is a discussion of risks associated with an investment in our securities, see "Item 1A. Risk Factors." Unless the context requires otherwise, references to "we," "us," "our" and the "Company" refer to The Este Lauder Companies Inc. and its subsidiaries. PART I

Business

Item 1. Business. The Este Lauder Companies Inc., founded in 1946 by Este and Joseph Lauder, is one of the world's leading manufacturers, marketers and sellers of quality skin care, makeup, fragrance and hair care products, and is a steward of luxury and prestige brands globally. Our products are sold in approximately 150 countries and territories under a number of well-known brand names including: Este Lauder, Clinique, Origins, MAC, Bobbi Brown Cosmetics, La Mer, Aveda, Jo Malone London, TOM FORD, Too Faced, Dr.Jart+, and The Ordinary. We are also the global licensee of the AERIN, BALMAIN and Dr. Andrew Weil brand names for fragrances and cosmetics. Each brand is distinctly positioned within the market for cosmetics and other beauty products. We believe we are a leader in the beauty industry due to the global recognition of our brand names, our excellence in product innovation, our strong position in key geographic markets and the consistently high quality of our products and "High-Touch" services. We sell our prestige products through distribution channels that complement the luxury image and prestige status of our brands, and we provide "High-Touch" consumer experiences across our distribution channels. Our products are sold on our own and authorized retailer websites, on third-party online malls, in stores in airports, in duty-free locations and in our own and authorized freestanding stores. In addition, our products are sold in brick-and-mortar retail stores, including department stores, specialty-multi retailers, upscale perfumeries and pharmacies and top-tier salons and spas. We have been controlled by the Lauder family since the founding of our Company. Members of the Lauder family, some of whom are directors, executive officers and/or employees, beneficially own, directly or indirectly, as of August 12, 2024, shares of our Company's Class A Common Stock and Class B Common Stock having approximately 84% of the outstanding voting power of the Common Sto

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