Ulta Beauty Stock Falls After Upbeat Earnings

Dow Jones08-28 18:08

Ulta Beauty's shares have been more like an eyesore this year and they were falling in the Friday premarket. But the stock initially rose late Thursday, reflecting investors' initial positive reaction to its upbeat results.

Ulta said it earned $6.55 a share in its fiscal second quarter, on revenue that rose nearly 9% year over year, to $3.04 billion. Analysts were looking for earnings per share of $6.20 on revenue of $2.99 billion.

Comparable sales were up 3.8% in the quarter.

For the full year, the company now expects to earn between $28.70 and $29, up from its prior forecast of $28.36 to $28.80. It sees revenue growth of 6.7% to 7.2%, which translates to $13.22 billion to $13.28 billion. Consensus calls for full-year earnings per share of $28.80 and revenue of $13.25 billion.

The shares were down 1.5% in the Friday premarket having risen 1% just after the report.

The news comes after last week's great quarter from prestige beauty company Estée Lauder.

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