Categories Consumer, Earnings

Ulta Beauty Q1 earnings beat Street view; stock falls on sales miss

Spa and beauty specialist Ulta Beauty (Nasdaq: ULTA) reported higher sales and earnings for the first quarter of 2019. Earnings exceeded analysts’ prediction, while sales missed. The company’s stock dropped during Thursday’s extended trading session following the report.

Ulta Beauty Q1 sales up 13%

First-quarter net profit moved up to $192.2 million or $3.26 per share from $164.4 million or $2.70 per share in the comparable period of last year. The bottom-line also came in above Wall Street’s forecast.

Net sales of the cosmetics retailer advanced 13% annually to $1.74 billion during the three-month period. Total comparable store sales rose 7% year-over-year. However, the top line came in below the estimates

Net sales advanced 13% annually to $1.74 billion and total comparable store sales rose 7%

“We are driving operational excellence across the enterprise, while investing in growth initiatives to fuel the long-term success of Ulta Beauty. We are excited to announce our decision to expand internationally and establish Ulta Beauty as a successful global brand. Our first step in becoming a global beauty retailer will be to prepare to launch operations in Canada, ”said CEO Mary Dillon.

For fiscal 2019, Ulta Beauty expects earnings per share in the range of $12.83 per share to $13.03 per share. The forecast for comparable store sales growth is 6-7%. Capital expenditure is estimated to be between $380 million and $400 million.

Ulta Beauty stands out among its peers for expanding its market share steadily even when the market conditions turned hostile. The ongoing growth initiatives, including investments, continue to yield results. The company was successful in overcoming the general slump the cosmetic industry witnessed in the early part of last year.

The company’s stock reached an all-time high last month, crossing the $350-mark for the first time. After suffering a major loss towards the end of last year, the shares gained 32% so far this year. The shares closed Thursday’s trading higher.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

Most Popular

FDX Earnings: FedEx Q1 adjusted earnings drop; revenue up 5%

Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues. The company also provided guidance for fiscal 2023. Net income, adjusted

Key highlights from Darden Restaurants (DRI) Q1 2023 earnings results

Darden Restaurants, Inc. (NYSE:DRI) reported first quarter 2023 earnings results. Total sales increased 6.1% year-over-year to $2.4 billion, driven by blended same-restaurant sales growth of 4.2%. Net earnings amounted to

ACN Earnings: Key quarterly highlights from Accenture’s Q4 2022 financial results

Accenture (NYSE: ACN) reported fourth quarter 2022 earnings results today. Total revenues were $15.4 billion, up 15% year-over-year in US dollars and up 22.4% in local currency. Net income attributable

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top