E.l.f. Beauty posts strong fiscal year with sales up 77%, but shares drop

From CNBC: 2024-05-22 16:46:53

E.l.f. Beauty posted a billion-dollar fiscal year with sales up 77%, but shares dropped as growth is expected to slow. In Q4, earnings per share were 53c adjusted vs. expected 32c, revenue was $321.1M vs. $292.6M. Net income was $14.53M, up from $16.25M a year earlier. Sales for the full year were $1.02B, up 77%.CEO Tarang Amin believes E.l.f. Beauty is in the early stages of growth and expects more in cosmetics, skincare, and international markets. The company forecasts net sales between $1.23B and $1.25B, an increase of 20-22%, with adjusted earnings between $3.20 and $3.25 per share, below analyst expectations. Ulta Beauty’s CEO Kimbell reported a slowed demand for cosmetics, causing shares to drop 15%.



Read more at CNBC:: E.l.f. Beauty (ELF) earnings Q4 2024