Ulta Beauty Shares Surge After Earnings Beat and Raised Guidance Fuel Investor Confidence
Ulta Beauty reported fiscal first-quarter results that surpassed Wall Street expectations on both profit and revenue, prompting the retailer to raise its full-year earnings outlook. Shares jumped as much as 7% in extended trading following the announcement.
Quarterly Performance and Guidance
For the three-month period ended May 2, Ulta Beauty posted earnings per share of $7.74, compared with the $6.86 expected by analysts surveyed by LSEG. Revenue reached $3.16 billion, above the $3.10 billion consensus estimate. Net sales increased approximately 11% year-over-year. Comparable sales rose 5.3%, beating StreetAccount estimates of 4.6% growth.
The company reaffirmed its full-year same-store sales and revenue projections but raised its full-year earnings per share guidance to a range of $28.36 to $28.80, up from the previous outlook of $28.05 to $28.55.
CEO Commentary on Results
“Fiscal 2026 is off to a strong start driven by broad-based growth across all channels and major categories,” said Chief Executive Officer Kecia Steelman in a statement. “Our results demonstrate the strengths of our model, focused execution of our talented associates and the effectiveness of our strategy in an uncertain macroeconomic landscape.”
Market Context
The earnings come as consumer confidence wanes amid rising gas prices and persistent inflation, leading to a pullback in discretionary spending. Current market data as of June 02, 2026:
- USD to Russian Ruble: 72.56 RUB (change: +1.01)
- EUR to Russian Ruble: 84.61 RUB (change: -1.64)
- Bitcoin: $67,521 (24-hour change: -5.4%)
- Oil: approximately $72 per barrel