🍎 🍕 Less apples, more pizza 🤔 Have you seen Buffett’s portfolio recently?Explore for Free

e.l.f. Beauty stock soars 15% following Q2 beat and raise

EditorRachael Rajan
Published 06/11/2024, 21:30
ELF
-

NEW YORK - e.l.f. Beauty, Inc. (NYSE: NYSE:ELF) shares surged nearly 15% in after-hours trading on Wednesday after the cosmetics company reported fiscal second-quarter results that handily beat expectations and raised its full-year guidance.

The Oakland, California-based company posted adjusted earnings per share of $0.77 for the quarter ended September 30, significantly above the analyst consensus estimate of $0.42. Revenue jumped 40% YoY to $301.1 million, also topping Wall Street forecasts of $289.3 million.

e.l.f. Beauty's strong performance was driven by robust growth across both its retail and e-commerce channels in the U.S. and internationally. The company gained 195 basis points of market share in the U.S. during the quarter.

"Q2 marked another quarter of consistent, category-leading growth," said Tarang Amin, e.l.f. Beauty's Chairman and CEO. "This was our 23rd consecutive quarter of both net sales growth and market share gains."

Looking ahead, e.l.f. Beauty raised its fiscal 2025 outlook, now expecting revenue of $1.315-1.335 billion, up from its previous guidance of $1.280-1.300 billion and above analyst estimates of $1.3 billion. The company also boosted its adjusted EPS forecast to $3.47-$3.53, compared to the consensus of $3.51.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.