Ulta Beauty Shares Surge 8% on Q1 Beat and Raise By Investing.com


© Reuters. Ulta Beauty Shares Surge 8% on Q1 Beat and Raise

By Davit Kirakosyan

Ulta Beauty (NASDAQ:) shares were trading around 8% higher after-hours following the company’s reported Q1 results, with EPS of $6.30 coming in better than the Street estimate of $4.47.

Revenue increased 21% year-over-year to $2.35 billion, compared to the Street estimate of $2.12 billion. Comparable sales grew 18%, driven by a 10% growth in transactions and a 7.3% growth in average ticket.

“The Ulta Beauty team delivered exceptional first quarter results, with better-than-expected sales and earnings growth, supported by double-digit comparable sales growth across all major categories,” said Dave Kimbell, chief executive officer. “Solid execution of our strategies, paired with strong guest demand, fueled our financial performance and continued market share gains as we delighted our guests with exciting brand launches within our one-of-a-kind assortment and differentiated guest experiences.”

The company increased its full 2022-year guidance, expecting EPS in the range of $19.20-$20.10, compared to the consensus estimate of $18.66. Full-year revenue is expected to be $9.35-9.55 billion, compared to the consensus estimate of $9.18 billion.

Shares of Ulta were down 8% year-to-date into the results.

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