Ulta Beauty Inc (NASDAQ: ULTA) is having an incredibly strong start to the day in the pre-market hours today, and for good reason. The company released its earnings for the most recent quarter, blowing away expectations on both the top and bottom line. Of course, this caused excitement among investors, leading to gains in the stock and prompting our partners at Trade Ideas to send the alert. At the moment (8:47), ULTA is trading at $305.25 per share after a gain of $12.21 per share or 4.17% thus far today.
ULTA Gains On Earnings
As mentioned above, Ulta Beauty recently released its earnings report for the most recent quarter, with overwhelmingly positive results. Here’s what we saw from the report…
- Revenue – In terms of revenue, ULTA definitely did not disappoint. During the quarter, analysts were expecting the company to generate $1.276 billion. However, the company actually reported revenue in the amount of $1.314 billion, representing year over year growth of 22.5%.
- Earnings Per Share – On the earnings per share side, we saw more positive news. During the quarter, analysts expected that the company would generate earnings in the amount of $1.79 per share.
- Guidance – In terms of guidance, ULTA raised expectations. During the year 20187 the company is expecting comps growth between 9% and 11%. Sales are expected to grow around 50%, with about 100 new stores open. During the second quarter, the company expects net sales to come in between 1.257 billion and $1.278 billion. Earnings are expected to come in between $1.72 and $1.77 per share.
In a statement, Mary Dillon, CEO at Ulta Beauty, had the following to offer…
“The Ulta Beauty team kicked off 2017 with excellent performance in the first quarter… Strong execution of our growth strategies delivered above plan sales and earnings growth. Our results reflect continued newness and innovation in merchandising, successful marketing programs, steady progress in our salon business and exceptional growth in e-commerce.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ULTA. In particular, we’re interested in following the company as it opens a massive amount of new stores over the next year and revenue and earnings hopefully continue to rise in a big way. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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