Ulta Beauty Inc. (ULTA) Q2 Earnings: EPS of $5.30 Misses Estimates, Revenue at $2.55 Billion

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Ulta Beauty Inc. (ULTA) Q2 Earnings: EPS of $5.30 Misses Estimates, Revenue at $2.55 Billion

GuruFocus08-30

On August 29, 2024, Ulta Beauty Inc (ULTA, Financial) released its 8-K filing for the second quarter of fiscal 2024. The company, the largest specialized beauty retailer in the US with 1,385 stores ...

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The company, the largest specialized beauty retailer in the US with 1,385 stores ...</p>\n\n<a href=\"https://www.gurufocus.com/news/2513297/ulta-beauty-inc-ulta-q2-earnings-eps-of-530-misses-estimates-revenue-at-255-billion\">Source Link</a>\n\n</div>\n","source":"gurufocus_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ulta Beauty Inc. 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(ULTA) Q2 Earnings: EPS of $5.30 Misses Estimates, Revenue at $2.55 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-30 05:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.gurufocus.com/news/2513297/ulta-beauty-inc-ulta-q2-earnings-eps-of-530-misses-estimates-revenue-at-255-billion><strong>GuruFocus</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>On August 29, 2024, Ulta Beauty Inc (ULTA, Financial) released its 8-K filing for the second quarter of fiscal 2024. The company, the largest specialized beauty retailer in the US with 1,385 stores ...</p>\n\n<a href=\"https://www.gurufocus.com/news/2513297/ulta-beauty-inc-ulta-q2-earnings-eps-of-530-misses-estimates-revenue-at-255-billion\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ULTA","symbol_name":"Ulta美容","start_time":0,"source_url":"https://www.gurufocus.com/news/2513297/ulta-beauty-inc-ulta-q2-earnings-eps-of-530-misses-estimates-revenue-at-255-billion","article_id":"2463838214","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2463838214","pubTimestamp":1724966473,"sourceInfo":{"source_id":"gurufocus_highlight","name":"GuruFocus"},"weMediaInfo":null,"summary":"On August 29, 2024, Ulta Beauty Inc (ULTA, Financial) released its 8-K filing for the second quarter of fiscal 2024. The company, the largest specialized beauty retailer in the US with 1,385 stores an","collect":0,"end_time":0,"defaultTopTitle":"gurufocus.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"ULTA":"Ulta美容"},"translate_title":"Ulta Beauty Inc.(ULTA)第二季度收益：每股收益为5.30美元，低于预期，营收为25.5亿美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ULTA":1},"content_text":"On August 29, 2024, Ulta Beauty Inc (ULTA, Financial) released its 8-K filing for the second quarter of fiscal 2024. The company, the largest specialized beauty retailer in the US with 1,385 stores and a partnership with Target, reported net sales of $2.6 billion and earnings per diluted share of $5.30, missing analyst estimates of $2.617 billion in revenue and $5.55 in EPS.Company Overview Ulta Beauty Inc (ULTA, Financial) operates 1,411 stores across the US, offering a wide range of beauty products including makeup, fragrances, skincare, and hair care. The company also provides salon services in all its stores. Founded in 1990 and based in Bolingbrook, Illinois, Ulta Beauty has established itself as a premier beauty destination.Performance and Challenges For the second quarter of fiscal 2024, Ulta Beauty Inc (ULTA, Financial) reported net sales of $2.552 billion, a slight increase from $2.530 billion in the same period last year. However, comparable sales decreased by 1.2%, a significant drop from the 8.0% increase in the year-ago quarter. The company attributed this decline to various factors impacting store performance.“While we are encouraged by many positive indicators across our business, our second quarter performance did not meet our expectations, driven primarily by a decline in comparable store sales. We are clear about the factors that adversely impacted our store performance, and we have actions underway to address the trends,” said Dave Kimbell, chief executive officer.Financial Achievements Despite the challenges, Ulta Beauty Inc (ULTA, Financial) achieved several financial milestones. The company reported a gross profit margin of 38.3%, although this was down from 39.3% in the same quarter last year. Operating income as a percentage of net sales also decreased to 12.9% from 15.5%.Key Financial Metrics Metric Q2 2024 Q2 2023 Net Sales $2.552 billion $2.530 billion Gross Profit Margin 38.3% 39.3% Operating Income Margin 12.9% 15.5% Diluted EPS $5.30 $6.02Balance Sheet and Cash Flow As of the end of the second quarter, Ulta Beauty Inc (ULTA, Financial) had cash and cash equivalents totaling $414.0 million. Merchandise inventories increased by 10.1% to $2.0 billion, primarily due to new brand launches and the opening of a new market fulfillment center. The company repurchased 549,852 shares of its common stock at a cost of $212.3 million during the quarter.Store Update During the second quarter, Ulta Beauty Inc (ULTA, Financial) opened 17 new stores, relocated one store, remodeled nine stores, and closed one store. The company now operates 1,411 stores totaling 14.8 million square feet.Fiscal 2024 Outlook Ulta Beauty Inc (ULTA, Financial) has updated its full-year expectations, now projecting net sales between $11.0 billion and $11.2 billion, down from the previous range of $11.5 billion to $11.6 billion. Comparable sales are expected to range from -2% to 0%, and diluted earnings per share are forecasted to be between $22.60 and $23.50.For more detailed insights and analysis, visit GuruFocus.com.  Explore the complete 8-K earnings release (here) from Ulta Beauty Inc for further details.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}