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ESTEE LAUDER COMPANIES 767 Fifth Avenue New York , NY 10153 News Contact : Investors : Rainey Mancini rmancini@estee.com Media : Jill Marvin jimarvin@estee.com THE ESTÉE LAUDER COMPANIES REPORTS OUTSTANDING FISCAL 2021 SECOND QUARTER RESULTS Net Sales Increased 5 % and Diluted EPS Rose 56 % Net Sales Grew 3 % and Adjusted Diluted EPS Increased 21 % in Constant Currency The Company Plans to Resume Its Share Repurchase Program During the Second Half New York , February 5 , 2021 - The Estée Lauder Companies Inc. ( NYSE : EL ) today reported net sales of $ 4.85 billion for its second quarter ended December 31 , 2020 , an increase of 5 % on a reported basis , and 3 % in constant currency , from $ 4.62 billion in the prior - year period . Incremental net sales from the Company's acquisition of Have & Be Co. Ltd. ( " Dr. Jart + ” ) contributed approximately 3 percentage points of net sales growth . The Asia / Pacific region , travel retail and global online net sales growth was partially offset by lower foot traffic in open stores and , to a lesser extent , temporary retail store closures attributable to COVID - 19 . The Company reported net earnings of $ 873 million , compared with net earnings of $ 557 million in the prior - year period . Diluted net earnings per common share was $ 2.37 , compared with $ 1.52 reported in the prior - year period . Excluding the benefit of currency translation , adjusted diluted earnings per common share , which excludes items detailed on page 3 , increased 21 % . Fabrizio Freda , President and Chief Executive Officer said , “ We are proud to have returned to growth in our second quarter , earlier than we anticipated , demonstrating the enduring success of our multiple engines of growth strategy . The powerful engines of Skin Care , Fragrance , Asia / Pacific , Travel Retail in Asia , and global Online fueled our performance despite the increasing complexity of the pandemic . Ten of our brands grew , signifying the broad - based strength of our portfolio , hero products and innovation , led by double - digit sales growth from the Estée Lauder and La Mer brands . For holiday and key shopping events , we welcomed new consumers and deepened relationships with existing consumers . We successfully combined technology and data with our talented beauty advisors to deliver high - touch services , enriching the online shopping experience . We invested in our growth engines and employed strict cost discipline in other areas , driving double - digit adjusted earnings growth . " Freda emphasized , “ Our performance this quarter gives us confidence , as we delivered strong sales and earnings growth amid the pandemic while living our company values and investing in technology for new capabilities to support accelerating growth drivers . We still expect to deliver sequentially improving sales growth each quarter for the remainder of fiscal 2021 as we continue driving recovery . " ESTEE LAUDER COMPANIES Page 1 of 18