Ulta Beauty Shares Up 3% on Q2 Beat & Raised Guidance
2022.08.26 01:46
Ulta Beauty Shares Up 3% on Q2 Beat & Raised Guidance
By Davit Kirakosyan
Ulta Beauty (NASDAQ:ULTA) shares rose more than 3% after-hours following the company’s reported Q2 results, with EPS of $5.70 coming in better than the consensus estimate of $4.90.
Revenue grew 16.8% year-over-year to $2.3 billion, compared to the consensus estimate of $2.19 billion. Comparable sales grew 14.4%, driven by an 8.3% increase in transactions and a 5.6% increase in average ticket.
“Strong consumer demand and broad-based momentum across our business continued as our teams executed our plans with excellence. For the quarter, we delivered double-digit comparable sales growth across all major categories and increased profitability, demonstrating the strength of our model and the commitment of our teams,” said Dave Kimbell, CEO of Ulta Beauty.
The company increased its full 2022-year outlook, expecting EPS to be in the range of $20.70-$21.20, compared to the consensus of $20.32, and revenue in the range of $9.65-9.75 billion, compared to the consensus of $9.53 billion.
