Ulta Beauty (ULTA) is an Illinois-based cosmetics and beauty product retailer. The company has more than 1,200 operations across the U.S.
And ULTA recently posted blowout second-quarter financials…
The company’s earnings per share were $4.45 versus the expected $2.57. ULTA’s revenue was $1.97 billion, topping the $1.77 billion estimate. The cosmetic retailer’s comparable-store sales surged by 56.3%, beating the anticipated 46.9%.
This pushed ULTA to provide strong guidance as well. For fiscal year 2022, ULTA said EPS could come in at around $14.50 to $14.70. The company previously projected EPS of $11.50 to $11.95.
Meanwhile, ULTA highlighted that revenue could be $8.1 billion to $8.3 billion, greater than its previous guidance of $7.7 billion to $7.8 billion. The company projects comparable-store sales will rise by another 30% to 32% as well.
These solid results left a positive impression on analysts. And investment advisory Oppenheimer maintained its “outperform” rating for ULTA shares as a result.
Oppenheimer also increased its price target range from $385 to $415, signaling the company could see major share growth in the months ahead as cosmetics demand continues to remain elevated.
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