Elf Beauty announces $500M share repurchase program

e.l.f. Beauty announced the Company’s Board of Directors authorized a share repurchase program of up to $500 million of the Company’s common stock. The Company’s previous $25 million program, authorized in 2019, has been exhausted following the Company’s use of approximately $17 million in cash to repurchase shares over the past two weeks. “This share repurchase authorization reflects confidence in our strategy and the long-term potential we see for e.l.f. Beauty,” said Tarang Amin, e.l.f. Beauty’s Chairman and Chief Executive Officer. “We have a track record of delivering consistent, category-leading sales and market share growth and are excited about the whitespace we see for e.l.f. Beauty across cosmetics, skin care and international.”