Ulta Beauty, Inc. earnings overview

ULTA FY2027 Q1 · Calendar Q2 2026

Ulta Beauty, Inc.

Ulta Beauty delivered a strong start to its fiscal year, with Q1 net sales rising 11.1% to $3.2 billion and diluted EPS up 15.5% to $7.74, beating consensus on both lines. Fragrance and exclusive brands — NOYZ, Rare Beauty, and Balmain — were the primary growth drivers, complemented by digital initiatives including a new TikTok Shop that generated over 5 million impressions in its launch quarter. Management raised operating profit guidance to 6.5–9% growth and lifted EPS guidance to $28.36–$28.80, while maintaining the 6–7% sales growth target. Despite the beat and raise, the stock sold off roughly 4.8% in the reaction window with continued drift lower and 3.2x baseline volume, suggesting the market had priced in expectations for a stronger print or questioned the sustainability of comp growth against a flat gross margin outlook. The analyst consensus target of $645 implies roughly…