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

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

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