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Ulta Beauty beats quarterly estimates and raises full-year guidance

Ulta reported first-quarter net sales of $3.16 billion, up 11.1%, and lifted diluted EPS to $7.74 after margin pressure and a tougher macro backdrop.

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Ulta Beauty posted stronger-than-expected results for its first fiscal quarter ended May 2, with net sales rising to $3.16 billion, an 11.1% year-over-year increase that came in above analyst expectations, according to MarketBeat Ratings.

The company said comparable sales grew 5.3%, driven by slightly more transactions and a 3.7% increase in average ticket levels, while operating income increased 11.6% to $448.3 million, or 14.2% of net sales.

Ulta also reported net income of $340 million for the quarter, and diluted earnings per share jumped 15.5% to $7.74, topping the $6.89 analysts had forecast.

MarketBeat Ratings noted that despite the upside, analysts remain cautious due to lingering concerns about cost pressure and competition, even as the retailer raised its full-year guidance and positioned itself as a steadier discretionary growth story through a stores and e-commerce mix.

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