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E.l.f. Beauty profit nearly doubles after $50 million tariff refunds

The company said it received $50 million in tariff refunds in fiscal first quarter, helping boost profits close to a 100% increase.

Reported · Written up by our desk · Equities

E.l.f. Beauty reported that it received $50 million in tariff refunds during its fiscal first quarter, a windfall that supported a sharp jump in profitability, CNBC Markets reports.

The company said profits were nearly doubled, with the tariff refunds credited as a key contributor to the improvement, according to the report.

CNBC Earnings also highlighted the same figures, noting that the refunds helped drive profits to increase by about 100% in the quarter.

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