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Ulta Beauty lifts guidance after Q3 results beat estimates

November 30, 2023 5:03 PM EST

Investing.com -- Ulta Beauty lifted the lower end of its annual guidance on Thursday after reporting third-quarter results that beat analysts' forecasts as lower prices helped boost sales.

Ulta Beauty Inc (NASDAQ: ULTA) shares rose 9.5% in after-hours trade following the report.

Ulta Beauty announced earnings per diluted share of $5.07 on revenue of $2.5 billion. Analysts polled by Investing.com anticipated EPS of $4.99 on revenue of $2.47B.

Comparable sales increased 4.5%, compared with a increase of 14.6% in the second quarter, driven by a 5.9% increase in transactions and a 1.4% increase in average ticket.

Looking ahead, the company said it now expects EPS of $25.20 to $25.60 on revenue of $11.10B to $11.15B, compared with a prior outlook for EPS of $25.10 to $25.60 on revenue of revenue of between $11.05B to $11.15B. Comparable sales were forecast in a range of 5% to 5.5%, compared with a prior a range of 4.5% to 5.5%.


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