Ulta Beauty (NASDAQ:ULTA) stock rose more than 1% pre-market today following the company’s better-than-expected Q2 performance.
The company disclosed Q2 earnings per share of $6.02 on revenue of $2.53 billion. This surpassed analysts’ projections of earnings per share at $5.83 on revenue of $2.50 billion.
According to CEO Dave Kimbell, the consistent growth in the beauty category reflects consumers maintaining their post-pandemic routines and broadening their interpretation of beauty.
Ulta Beauty’s projections for the entire year forecast a profit ranging from $25.10 to $25.60 per share and revenue ranging from $11.05 billion to $11.15 billion, both of which are higher than their initial estimates. The company also anticipates a 4.5% to 5.5% increase in comparable sales throughout the year.