Ulta Beauty Stock Down on Q3 Earnings Guidance Miss

Advertisement

Ulta Beauty (NASDAQ:ULTA) reported its latest quarterly earnings results late on Thursday, posting earnings for the period that was above what analysts were calling for, but its forecast was below expectations, sending shares sinking after hours.

Ulta Beauty Stock

The company said that for its second quarter of fiscal 2018, it brought in net income of $148.3 million, or $2.46 per share. The figure was an improvement over its net income from the year-ago quarter, when it brought in net income of $1.83 per share.

Analysts were calling for Ulta Beauty to bring in earnings of $2.41 per share, according to data compiled by FactSet. The company’s revenue for the period tallied up to $1.488 billion, which was a considerable improvement over the $1.29 billion it raked in during the year-ago quarter.

The Wall Street consensus estimate was projecting the beauty salon operator to amass sales of $1.49 billion. Despite Ulta Beauty having a relatively good second quarter, shares were on the decline as its fiscal third quarter of 2018 is expected to miss estimates.

The company sees its earnings as being in the range of $2.11 to $2.16 per share, which is well below the $2.31 per share that analysts are calling for. Its revenue is slated to be in the range of $1.55 billion to $1.563 billion, which is better than the $1.545 billion that Wall Street is calling for.

ULTA stock gained 1.1% on Thursday before sinking 6.9% after hours following the company’s weak quarterly forecast.


Article printed from InvestorPlace Media, https://investorplace.com/2018/08/ulta-beauty-stock-ulta/.

©2024 InvestorPlace Media, LLC