Ulta Beauty Results Top Estimates, Lifts FY Guidance; Stock Up 2%

(RTTNews) - Beauty products retailer Ulta Beauty (ULTA) on Thursday reported first-quarter net earnings of $66.9 million or $1.04 per share compared with $50 million or $0.77 per share last year.

Revenues for the quarter were up 21.6% at $868.1 million compared with $713.8 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.93 per share on revenues of $846.3 million for the quarter. Analysts' estimates typically exclude special items.

Comparable sales increased 11.4% in the quarter.

For the second quarter, the company expects earnings of $1.07 to $1.12 per share, revenues of $854 million to $868 million and comparable store sales growth of 7% to 9%. Analysts expect earnings of $1.09 per share on revenues of $859.3 million.

For the full year 2015, the company now expects adjusted earnings growth at the high end of prior guidance of 15% to 17%; sales to grow in the mid to high teens percentage range, from prior range of mid-teens percentage range; and comparable sales to grow 7% to 9%, from prior guidance of 6% to 8%.

Analysts expect earnings of $4.65 per share on revenue growth of 16.7% for the year.