Ulta Beauty reported robust financial results for its fiscal first quarter of 2026, surpassing Wall Street expectations for both earnings and revenue. The beauty retailer also increased its full-year earnings per share outlook, signaling a strong start to its fiscal year. Following the announcement, the company's shares saw a notable rise, climbing as much as 7% in extended trading.
For the three-month period concluding on May 2, Ulta Beauty recorded earnings per share of $7.74, outperforming the $6.86 per share anticipated by analysts in a survey conducted by LSEG. Revenue for the quarter reached $3.16 billion, exceeding the $3.10 billion expected by Wall Street.
The company also reported a 5.3% rise in comparable sales, which surpassed StreetAccount estimates of a 4.6% increase. Net sales for the period increased by approximately 11% compared to the same quarter in the previous year, driven by broad-based growth across all channels and major categories.
Looking ahead, Ulta Beauty reaffirmed its full-year projections for same-store sales and total revenue. However, it revised its full-year earnings per share guidance upward, now expecting between $28.36 and $28.80. This is an increase from its prior outlook, which ranged from $28.05 to $28.55 per share.
CEO Kecia Steelman commented on the results, stating, "Fiscal 2026 is off to a strong start driven by broad-based growth across all channels and major categories." Steelman further added that the results "demonstrate the strengths of our model, focused execution of our talented associates and the effectiveness of our strategy in an uncertain macroeconomic landscape."
These strong earnings emerge at a time when consumer confidence has reportedly softened. Factors such as elevated gas prices and persistent inflation have led to a general reduction in discretionary spending across the economy. Despite this challenging backdrop, Ulta Beauty's performance indicates resilience within the beauty retail sector.
