Estée Lauder beat Q3 earnings expectations, signaling confidence in its 2027 outlook despite announcing additional layoffs. The company did not comment on the potential acquisition by Spanish conglomerate Puig, which has pursued the luxury beauty giant for months. The earnings beat reflects strength in the Estée Lauder portfolio, which spans prestige skincare, color cosmetics, and fragrance across brands including MAC, Clinique, and Jo Malone. The workforce reductions come as the company streamlines operations and focuses on high-growth markets. Estée Lauder's positive guidance suggests the brand expects recovery momentum in key regions, particularly in Asia-Pacific and North America. The silence on Puig remains notable, leaving investors uncertain about the status of merger negotiations that could reshape the luxury beauty landscape.