The headline numbers for Ulta (ULTA) give insight into how the company performed in the quarter ended July 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 $5.30 per share, missing the Zacks Consensus Estimate of $5.45 per share. This compares to earnings of $6.02 per share a year ago.
Ulta Beauty fell short of second-quarter expectations and trimmed its full-year guidance. Comparable sales for the second quarter fell 1.2%, compared to an 8% increase a year earlier.
JP Morgan analyst Christopher Horvers reiterated an Overweight rating on Ulta Beauty, Inc. ULTA, lowering the price forecast to $450 from $544.
A recent purchase of the retailer's shares by Warren Buffett's Berkshire Hathaway has attracted much attention. One pundit reduced his price target, but steadfastly maintained his bullish outlook on the stock.
Berkshire recently initiated a position in retailer Ulta Beauty. Shares of the cosmetics chain are down about 24% in 2024.
ULTA's second-quarter performance is likely to reflect gains from strategic priorities. While elevated SG&A costs and a lower gross margin are expected.
Besides Wall Street's top -and-bottom-line estimates for Ulta (ULTA), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended July 2024.
Key Points: Warren Buffett purchased Ulta Beauty, taking advantage of its reduced stock price.
Ulta runs a differentiated retail business targeting a broad demographic of beauty shoppers. It has one of the best returns on capital in retail.
Ulta (ULTA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Sales trends have deteriorated recently but there's good reason to give Ulta a pass. Management thinks recent changes to marketing could reinvigorate sales in the coming quarters.