Ulta Beauty’s (ULTA) stock is up 11% after the cosmetics company reported strong third-quarter financial results and raised its forward guidance.
The retailer announced earnings per share of $5.07 U.S. and revenue of $2.49 billion U.S. for what was its fiscal third quarter. Analysts had forecast earnings of $4.96 U.S. a share and $2.47 billion U.S. in revenue.
Ulta Beauty also lifted its guidance, saying it now anticipates full-year sales of $11.1 billion U.S. to $11.15 billion U.S., up from a previous range of $11.05 billion U.S. to $11.15 billion U.S.
The company said it expects earnings per share of $25.20 U.S. to $25.60 U.S. for all of this year, up from a previous forecast of $25.10 U.S. to $25.60 U.S.
Ulta Beauty also announced that its long-time chief financial officer (CFO), Scott Settersten, will retire in April 2024.
Paula Oyibo, the company’s current senior vice president of finance, will take over the CFO role, the company said.
Before today (Dec. 1), shares of Ulta Beauty had declined 10% on the year and were trading at $425.99 U.S. each.
