Ulta Magnificence (ULTA) reported third-quarter outcomes that have been barely higher than Wall Road anticipated. The wonder retailer reported adjusted earnings of $5.07 per share, higher than the $5.00 analysts had anticipated. Income of $2.5 billion was in keeping with estimates of $2.47 billion. The corporate additionally introduced CFO Scott Settersten was retiring and that the corporate’s Senior Vice President of Finance Paula Oyibo will change him.
Yahoo Finance Reside breaks down the report.
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Video Transcript
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JOSH LIPTON: Shares of Ulta are buying and selling sharply increased right here within the after hours after reporting outcomes. Let’s get you these numbers, Q3 outcomes. They reported EPS of 507. That was versus an estimate of $5. Web gross sales are available in at 2.49 billion. That was up about 6% versus an estimate of two.47 billion. So these are beats on the underside and the highest.
Trying forward for the complete yr, the 2024 full-year forecast, it seems to be like they slim their EPS forecast for the complete yr right here. They now see EPS 2,520 to 2,560. They see internet gross sales of 11.1 to 11.15 billion. They usually see comparable gross sales right here. Their estimate is asking for five% to five.5%. And at the very least initially right here, Diane, buyers clearly like what they see.
DIANE KING HALL: They do, completely. I imply, it is a strong report. When you consider how they have been positioned coming into this, there had been some downgrades when it comes to the view of how Ulta was going to carry out, as a result of they’d cautioned of their final quarterly report.
They’re saying in there, when it comes to their earnings launch, that it was a robust efficiency. You noticed gross sales gross revenue, diluted EPS, all exceeding their inside expectations. Once more, they’d cautioned on their final quarterly report. Visitors stays wholesome, model consciousness enhance, the outlook for magnificence has been doing properly. And we have talked in regards to the magnificence element when it comes to a few of the retail gross sales outcomes that we have had. Lately, that has held up even within the face of some customers type of pulling again in different areas. You return to that type of lipstick indicator impact, folks will nonetheless splurge on these little issues that make them really feel higher.
In order that they actually did higher. You had Citi coming into this, reducing their expectations. They have been anticipating 492. Telsey Advisory group, a boutique agency, additionally had an analogous outlook. So not stunned to see this response when it comes to the share worth proper now, up after hours, about 9%. We’ll see the way it does, it performs tomorrow when the market is open.
JOSH LIPTON: Positive will.
