Ulta Beauty topped analysts’ expectations in its fiscal third quarter, and boosted its guidance for the full year amidst solid demand.
The skincare/cosmetics company’s earnings for the quarter came in at $5.34 per share, surpassing analysts’ expectations of $4.15 per share.
Revenue of $2.34 billion also beat expectations of $2.21 billion. Comparable sales climbed +14.6% year over year (vs.+ 25.8% increase in the year-ago period, and well above the 8.8% expected by analysts according to StreetAccount).
Looking ahead, Ulta raised its full-year earnings projection to a range of $22.60 to $22.90 per share, vs. prior forecast of $20.70 to $21.20 per share. The forecast also exceeds the Street expectation of $21.40 earnings per share. The company now expects full-year revenue of between $9.95 billion to $10 billion, compared to its previous outlook of $9.65 billion to $9.75 billion. Analysts had anticipated $9.77 billion in revenue. Ulta expects comparable sales y/y growth in the range of 12.6% to 13.2%, vs. prior forecast of 9.5% to 10.5%.