When Ulta Beauty Inc. (NASDAQ: ULTA) released its fiscal third-quarter financial results after the markets closed on Thursday, the firm said that it had $2.25 in earnings per share (EPS) and $1.68 billion in revenue. The consensus estimates had called for $2.13 in EPS and $1.67 billion in revenue, and the same period of last year reportedly had EPS of $2.18 on revenue of $1.56 billion.
During the quarter, net sales increased 7.9% year over year. Comparable sales increased 3.2%, compared to an increase of 7.8% in the third quarter of last year. The comparable sales increase was driven by 2.3% transaction growth and 0.9% growth in average ticket.
Over the course of the third quarter, the company opened 31 stores and closed three. Ulta Beauty ended the quarter with 1,241 stores.
The company raised its 2019 fiscal year guidance and now expects to see EPS in the range of $11.93 to $12.03, with total sales increasing by 10% and comparable sales in the range of 4.7% to 5.0%. The prior guidance called for EPS of $11.86 to $12.06, total sales increasing 9% to 12% and comparable sales growing 4% to 6%.
Consensus analyst estimates are calling for $11.93 in EPS and $7.44 billion in revenue for the fiscal full year.
CEO Mary Dillon commented:
Our differentiated model is winning in the marketplace. The Ulta Beauty team delivered another quarter of solid top-line performance, gross margin expansion, and EPS growth, despite the current challenges facing the U.S. cosmetics category. We continue to gain market share across all major beauty categories, and we are extending our leadership position by creating stronger connections with our guests and engaging with them in better and more exciting ways.
Shares of Ulta traded at $262.20 early Friday, an 11% gain, in a 52-week range of $222.00 to $368.83. The consensus price target is $278.67.
24/7 Wall St.Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.