Shares of Estée Lauder advanced on Wednesday as the beauty and cosmetics giant's better-than-expected quarterly earnings showed Wall Street its growth plan is well underway.

The company announced adjusted earnings of 39 cents a share in the fiscal fourth quarter, up from 9 cents a year ago and above Wall Street's expectation of 32 cents. Net sales grew 6% to $3.63 billion, beating the analyst consensus call for $3.55 billion, according to FactSet.

Estée Lauder reported adjusted earnings of $2.51 a share for the full fiscal year, up from $1.51 last year. On a non-adjusted basis, the company posted earnings of 50 cents, up from a loss of $3.15 a share in fiscal 2025.

The stock advanced 8.8% to $91.71 in premarket trading. Shares enter Wednesday's session down about 20% this year and have been trading around their 50-day moving average, at the $84.20 level, since May.

If the move holds through the opening bell, Estée Lauder stock will be testing resistance at its 200-day moving average, around the $91.50 level. Shares last traded above the 200-day moving average in March.

CEO Stéphane de La Faverie said in the earnings release that the company successfully "reignited growth" and "stronger profitability" with its restructuring plan "increasingly enabling the entire organization to move at speed and with discipline."

But there's more work to be done.

Estée Lauder said it expects its restructuring strategy to result in 10,000 positions being cut, which would be at the high-end of its previous expectation. The company believes this will create a 50% increase "in productivity across corporate-function employees."

The company added that the costs of restructuring will be slightly above the high-end of its previously communicated range of $1.5 billion to $1.7 billion. Estée Lauder forecasts the restructuring efforts will be "substantially completed" in fiscal 2027.

For fiscal 2027, the company expects adjusted earnings on constant currency of $3.06 to $3.31 a share with net sales growth of 3% to 5%.

The company also forecasts adjusted operating margin of 12.7% to 13.5% in fiscal 2027, an increase from its preliminary outlook in May 2026 of 12.5% to 13%. Net cash flows are expected to be between $1.3 billion and $1.4 billion, down from fiscal 2026 due to higher restructuring payments as well as an increase in working capital needs to support growth.

Estée Lauder's capital spending will be about 4% of projected sales as it works to fuel growth with upgrades to existing bricks-and-mortar and online distribution channels.

Wall Street liked what it heard from the beauty giant, but it sounds like Estée Lauder knows there's more work needed.