US-based ulta Beauty Inc, owner of a chain of cosmetics shops, has reported net income and revenue in the third quarter of fiscal 2024 that exceeded market expectations.
The company said in a press release that net income for the August-October period was $242.2 million, or $5.14 per share, compared with $249.5 million ($5.07 per share) for the comparable period a year earlier.
Revenue rose 1.7% to $2.53 billion, with comparable sales up 0.6%.
Analysts surveyed by FactSet on average had estimated the company’s earnings at $4.53 per share on revenue of $2.49 billion and a 1.9% decline in comparable sales.
ulta Beauty also improved its outlook for fiscal 2024 and now expects revenue of $11.1-11.2 billion (previously $11-11, 2 billion) and earnings per share of $23.2-23.75 ($22.6-23.5). The dynamics of comparable sales is expected to range from a decrease of 1% to zero change (previously – from minus 2% to remain at the same level).
Quotes of ulta shares at the end of the additional session on Thursday jumped by 12.1% after the publication of reports.