E.l.f. Beauty blows past Wall Street's estimates, raises full-year guidance again
Publishing timestamp: 2023-11-01 16:10:45
Summary
E.l.f. Beauty raised its full-year guidance for the second quarter in a row after beating Wall Street's estimates on both top and bottom lines. The cosmetics company saw a 76% increase in sales compared to the previous year and expects sales to grow between 55% and 57% for the full year. E.l.f. Beauty also saw profits nearly triple compared to the year-ago period. The strong results prompted the company to raise its full-year outlook and adjusted profit guidance. CEO Tarang Amin attributes the success to the company's value equation, innovation, and products that consumers can't get enough of. E.l.f. Beauty has a strong presence in both digital channels and physical retailers and maintains high margins due to high volumes and a focus on full retail pricing.
Sentiment: POSITIVE
Keywords: breaking news: earnings, walmart inc, earnings, business, target corp, elf beauty inc, business news, dividends, retail industry, breaking news: business, cosmetics,
Source: https://www.cnbc.com/2023/11/01/elf-beauty-elf-earnings-q2-2024.html