Why Are Investors Cheering Ulta Beauty Stock?

Benzinga2021-08-26

Ulta Salon Cosmetics & Fragrance (NASDAQ:ULTA) reported second-quarter FY21 sales growth of 60.2% year-on-year, to $1.97 billion, beating the analyst consensus of $1.72 billion. Sales improved 18% from Q2 FY19.

Comparable sales increased 56.3%, versus a 26.7% decline in Q2 FY20 and 6.2% growth in Q2 FY19.

The gross margin for the quarter expanded 1380 basis points Y/Y to 40.6% and 420 basis points from Q2 FY19.

The operating margin was 16.9%, and operating income for the quarter rose 2496% Y/Y to $332.3 million.

The company held $770.1 million in cash and equivalents as of July 31, 2021.

Net cash provided by operating activities for the six months totaled $401.4 million.

EPS of $4.56 beat the analyst consensus of $2.42.

Outlook: Ulta Beauty raised FY21 sales outlook to $8.1 billion - $8.3 billion (prior $7.7 billion - $7.8 billion) versus the consensus of $7.88 billion.

The company expects FY21 EPS of $14.50 - $14.70 (prior $11.50 - $11.95) versus the consensus of $12.28.

Analyst Ratings: Deutsche Bank maintains Ulta Beauty with a Buy and raises the price target from $410 to $417.

Price Action: ULTA shares are trading higher by 5.31% at $410.60 in premarket on the last check Thursday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Jazling
2021-08-26
Jazling
Wow
- Jazling:
  Ok
Oyh
2021-08-26
Oyh
Hi
- Oyh:
  Ok
Couch
2021-08-26
Couch
Hi
- HT2O:
  Hello
Waterbottle
2021-08-26
Waterbottle
Hi
- Couch:
  Hi
JaxW
2021-08-26
JaxW
Please like and comment ? Thanks
- SKLow:
  like and comment back pls.tq
- TJW1991:
  h
- Waterbottle:
  Hi
PapaPanda
2021-08-26
PapaPanda
Ok
- JaxW:
  please like and comment ? Thanks

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