Q1 FY2026 Financial Results
Earnings per share: $7.74, compared to analyst estimate of $6.86 (LSEG survey)
Revenue: $3.16 billion, compared to estimate of $3.10 billion
Net sales increased approximately 11% year-over-year for the three-month period ended May 2. Comparable sales rose 5.3%, compared to the StreetAccount estimate of 4.6%.
Guidance Update
- Reaffirmed full-year same-store sales and revenue projections
- Raised full-year EPS guidance to $28.36–$28.80, from previous $28.05–$28.55
Company Statements
"Fiscal 2026 is off to a strong start driven by broad-based growth across all channels and major categories."
CEO Kecia Steelman attributed the success to several factors, including the launch of Ulta's TikTok Shop—which focuses on Ulta-specific products—and the introduction of more than 20 new brands during the quarter, including Rare Beauty.
Fragrances were the strongest category, increasing from 11% to 12% of total revenue.
"We are operating from a position of strength in this environment and have multiple levers to satisfy guests' value needs."
Context
The earnings report follows a dip in consumer confidence due to rising gas prices and inflation, which has led to reduced discretionary spending across the retail sector.