Ulta Salon (ULTA) Stock Up 6% on Q3 Beat and Raised 2021 Guidance

December 2, 2021 4:42 PM EST

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Ulta Salon (NASDAQ: ULTA) shares were trading more than 6% higher after-hours following the company’s reported Q3 results, with EPS coming in at $3.94, beating the consensus estimate of $2.42. Quarterly revenue grew 28.6% year-over-year to $2 billion, compared to the consensus estimate of $1.86 billion.

Comparable sales increased 25.8% year-over-year driven by a 16.8% increase in transactions and a 7.7% increase in average ticket.

According to Dave Kimbell, the CEO of Ulta Salon, the company’s record sales and earnings reflect the strength and resiliency of the Beauty category and the power of the Ulta Beauty differentiated model.

The company raised its full 2021-year outlook, expecting an EPS of $16.70-$17.10, compared to the consensus estimate of $15.19. 2021 revenue is expected to be $8.5-8.6 billion, compared to the consensus estimate of $8.35 billion.

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