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Ulta Beauty jumps after beating expectations on revenue, profit

Investing.com -- Ulta Beauty Inc (NASDAQ:ULTA) shares were rising after the cosmetics and beauty product retailer beat expectations for profit and revenue.

The company reported second quarter earnings per share of $6.02 on revenue of $2.53 billion. Analysts expected earnings per share of $5.83 on revenue of $2.50B. Comparable store sales rose 8% in the quarter, slowing from 14.4% one year ago.

Shares were up 2.3% in after-hours trading and are down 9% so far this year.

CEO Dave Kimbell said: “The beauty category has continued to deliver healthy growth, as consumers maintain their post-pandemic routines and expand their definition of beauty.” 

The company forecasts full year profit of $25.10 to $25.60 a share and revenue of $11.05B to $11.15B, both higher than earlier forecasts. It also expects full year comparable sales to rise 4.5% to 5.5%.

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