Ulta (NASDAQ:ULTA) earnings for the retailer of beauty cosmetics’ second quarter of 2020 have ULTA stock on the rise after-hours Thursday. That’s thanks to its adjusted earnings per share of 73 cents. This easily beats out Wall Street’s estimate of 6 cents per share. However, its revenue of $1.23 billion just missed analysts’ estimate of $1.24 billion.
Here’s a more in-depth look at the most recent Ulta earnings report.
- Adjusted per-share earnings are down 73.2% from $2.72 in the same period of the year prior.
- Revenue for the quarter comes in 26.3% lower than the $1.67 billion reported in Q2 2019.
- Operating income of $12.76 million is a 93.87% decline year-over-year from $208.02 million.
- The Ulta earnings report also has net income coming in at $8.05 million.
- That’s a 95% drop from the company’s net income of $161.26 million reported during the same time last year.
Mary Dillon, CEO of Ulta, said this in the earnings report.
“While the pandemic continues to impact our business, we are encouraged by improving trends. Comparable sales trends improved significantly throughout the quarter, from decreasing 37% in early May, as we began reopening stores, to decreasing 10% in July, when most of our stores were re-opened. Notably, sales trends have continued to improve, with comparable sales down in the mid-single digit range for the first three weeks of August.”
Ulta isn’t providing guidance at this time. This follows its decision in March to withdraw its outlook due to the novel coronavirus. Many other companies have done the same during the pandemic.
ULTA stock was up 16.7% after-hours Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.