Ulta Beauty delivered strong financial results with notable achievements in sales growth, loyalty program expansion, and digital transformation. However, challenges in prestige makeup and hair categories, increased promotional activity, and higher inventory shrink posed headwinds. Overall, the company remains confident in its strategic initiatives and long-term growth outlook.

Company Guidance

During the third quarter 2023 earnings call for Ulta Beauty, the company provided guidance indicating robust performance with net sales rising by 6.4% to $2.5 billion and comparable sales increasing by 4.5%. The operating profit stood at 13.1% of sales, and diluted EPS was reported at $5.07 per share. Ulta Beauty's loyalty program achieved a record high of 42.2 million active members, reflecting an 8% increase. While skincare emerged as the fastest-growing category with double-digit growth, the makeup category remained flat, and hair care saw a low single-digit decline. The company also highlighted a strong services business with high single-digit comp growth driven by core services and new offerings. For fiscal 2023, Ulta Beauty expects net sales to range between $11.1 billion and $11.15 billion, with comp sales growth projected between 5% and 5.5%, and operating margins maintained between 14.6% and 14.8%.

Strong Financial Performance

Net sales increased 6.4% to $2.5 billion, operating profit was 13.1% of sales, and diluted EPS was $5.07 per share. Comparable sales increased 4.5%.

Skincare and Fragrance Categories Growth

Skincare was the fastest-growing category with double-digit growth in mass and prestige segments. The fragrance and bath category delivered low double-digit growth.

Loyalty Program Expansion

The loyalty program ended the quarter with 42.2 million active members, an 8% increase from last year. Platinum and diamond members increased by more than 20%.

Digital Transformation Progress

Completed a significant step in digital transformation with the transition of the digital commerce experience to new architecture, performing well over the high demand Thanksgiving weekend.

New CFO Announcement

Paula Oyibo announced as the next Chief Financial Officer, effective April 1, 2024, following the retirement of Scott Settersten.

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Ulta Beauty (DE:34U) Earnings, Revenues Date & History

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DE:34U Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 30, 2018	2018 (Q2)	- / 2.39	1.777	34.43% (+0.61)	―	―
Dec 06, 2018	2018 (Q3)	- / 2.12	1.65	28.24% (+0.47)	―	―
Mar 14, 2019	2018 (Q4)	- / 3.50	3.301	6.18% (+0.20)	―	―
May 30, 2019	2019 (Q1)	- / 3.17	2.621	20.74% (+0.54)	―	―
Aug 29, 2019	2019 (Q2)	- / 2.68	2.388	12.20% (+0.29)	―	―
Dec 05, 2019	2019 (Q3)	- / 2.18	2.116	3.21% (+0.07)	―	―
Mar 12, 2020	2019 (Q4)	- / 3.78	3.505	7.76% (+0.27)	―	―
May 28, 2020	2020 (Q1)	- / -1.35	3.165	-142.64% (-4.51)	―	―
Aug 27, 2020	2020 (Q2)	- / 0.71	2.68	-73.55% (-1.97)	―	―
Dec 03, 2020	2020 (Q3)	- / 1.59	2.184	-27.11% (-0.59)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DE:34U Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 05, 2024	€372.00	€418.80	+12.58%
Aug 29, 2024	€328.50	€316.50	-3.65%
May 30, 2024	€355.10	€380.20	+7.07%
Mar 14, 2024	€525.00	€488.00	-7.05%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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