Ulta Beauty Inc (NASDAQ:ULTA) delivered profits for the third quarter that far exceeded market expectations, sending shares of the beauty retailer more than 10% higher in early trade. Earnings per share of $5.14 topped estimates of $4.55 and were up from $5.07 in the year-ago quarter.
Beauty and cosmetics company's latest earnings cheered investors and at least 17 analysts hiked stock price targets.
Makeup retailer Ulta Beauty Inc (NASDAQ:ULTA) is soaring 12.1% at $441.38 at last glance, enjoying the fruits of its third-quarter earnings and revenue beat.
ULTA's Q3 results reflect higher sales and earnings amid disciplined financial management, effective expense control and favorable shrink.
Investors need to pay close attention to Ulta Beauty (ULTA) stock based on the movements in the options market lately.
Most investors aren't willing to consider a stock as a potential buy after a recent rally, failing to realize that most of Wall Street's activity today is driven by algorithms that look for just this sort of price action. The so-called momentum in a breakout stock can trigger further buys down the line, leaving behind all of those who weren't willing to get in during the early days of what could become a double-digit rally.
Ulta Beauty (ULTA) shares traded sharply higher in extended trading on Thursday after the cosmetics retailer surpassed Wall Street's earnings expectations and raised its outlook.
Ulta Beauty, Inc. (NASDAQ:ULTA ) Q3 2024 Earnings Call Transcript December 5, 2024 4:30 PM ET Company Participants Kiley Rawlins - VP of IR Dave Kimbell - CEO Paula Oyibo - CFO Conference Call Participants Simeon Siegel - BMO Capital Markets Kelly Crago - Citi Korinne Wolfmeyer - Piper Sandler Anthony Chukumba - Loop Capital Markets Christopher Horvers - JPMorgan Chase & Company Emily Ghosh - Goldman Sachs Oliver Chen - TD Cowen Krisztina Katai - Deutsche Bank Operator Good afternoon, and welcome to Ulta Beauty's conference call to discuss results for the Ulta Beauty Third Quarter 2024 Earnings Results. At this time, all participants are in a listen-only mode.
The headline numbers for Ulta (ULTA) give insight into how the company performed in the quarter ended October 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Ulta Beauty (ULTA) came out with quarterly earnings of $5.14 per share, beating the Zacks Consensus Estimate of $4.47 per share. This compares to earnings of $5.07 per share a year ago.
Cosmetics retailer Ulta Beauty raised its annual profit forecast on Thursday, signaling a bounce back in demand for perfumes and makeup during the holiday shopping season and sending its shares up more than 11.5% in aftermarket trading.
Shares of Ulta Beauty Inc. rallied after hours on Thursday after the cosmetics chain offered up a slightly more upbeat full-year sales forecast, saying efforts to counterbalance a slowdown in demand and steeper competition were showing signs of “gaining traction.”