Market Overview

Ulta Shares Charge Over $90 Level Following Q1 Beat

Related ULTA
12 Stocks To Watch For May 26, 2016
Earnings Scheduled For May 26, 2016
Notable earnings after Thursday's close (Seeking Alpha)

Shares of Ulta Salon (NASDAQ: ULTA) are moving up more than eight percent in Tuesday's after-hours trading following better-than-expected earnings.

Revenue for the first quarter was $713.8 million, beating analyst's consensus estimate of $699.51 million by 2.04 percent. This is a 22.5 percent jump from the same quarter last year; however, shares are down 0.4 percent over the course of a year.

Ecommerce comparable sales were up 72.3 percent year over year, making up about 8.7 percent of total sales.

Net income was up 18.5 percent year over year to $49.95 million; operating income was up 19.5 percent year over year. Quarterly earnings of $0.77 beat the Wall Street estimate of $0.74 by 4.05 percent.

Ulta was unable to show scale with this quarter's results. Despite a 22.5 percent increase in revenue, cost of goods sold increased and SG&A expenses remained constant at 22.8 percent of revenue.

Looking forward, Ulta sees second-quarter sales coming in the range of $706 million to $717 million. This is a bullish signal as the analyst consensus estimate for the quarter sits at just $704 million. The company's earnings forecast is not as strong: EPS is expected to fall between $0.78 and $0.83, versus the $0.82 analyst expectation.

Shares of Ulta last traded at $92.30, up over eight percent from Tuesday's closing price.

Posted-In: Earnings News Guidance Retail Sales Movers


Related Articles (ULTA)

View Comments and Join the Discussion!