Ulta Magnificence (ULTA) Q2 Earnings

Florida, Port St. Lucie, The Landing at Tradition, outdoor mall, Ulta, cosmetic store.

Jeff Greenberg | Universal picture group | Getty Images

Ulta Beauty stock rose nearly 5% in expanded trading on Wednesday after the company reported that fiscal second quarter revenue rose more than 60% as shoppers rushed in to replenish their makeup bags .

Ulta raised its full year outlook after consumer demand for beauty products returned.

“This achievement reflects the recovery of the beauty category, the investments and decisions we made over the past year to adapt to market distortions and strengthen our leadership position, and the continued efforts of our people to deliver great experiences for our guests . ” said CEO Dave Kimbell.

In early Wednesday trading, the stock hit a 52-week high of $ 390.68.

In the second quarter ended July 31, the company performed compared to the expectations of the analysts surveyed by Refinitiv:

  • Earnings per share: $ 4.56 vs. $ 2.59 expected
  • revenue: $ 1.97 billion versus an expected $ 1.76 billion

Net income rose to $ 250.9 billion, or $ 4.56 per share, from $ 8.1 billion, or 14 cents per share, last year.

Revenue increased from $ 1.2 billion a year ago to $ 1.97 billion.

Analysts polled by Refinitiv had expected the company to make $ 2.59 per share on sales of $ 1.76 billion.

The company’s revenue in the same store increased 56.3% for the quarter. Last year, sales in the same store fell 26.7% as the pandemic weighed on makeup sales. Revenue in the same store for the quarter was 13.1% above 2019 levels.

The increase in revenue was driven by a 52.5% increase in transactions and a 26.7% increase in average customer spend.

Read the full Ulta Beauty publication here.

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