e.l.f. Beauty, Inc. (ELF) Misses Q1 EPS by 1c

e.l.f. Beauty, Inc. (NYSE: ELF) reported Q1 EPS of $0.03, $0.01 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $64.5 million versus the consensus estimate of $53.68 million.

“We are proud of the e.l.f. team for delivering strong results and navigating category headwinds during these unprecedented times,” said Tarang Amin, e.l.f. Beauty's Chairman and Chief Executive Officer. “This is our sixth consecutive quarter of net sales growth, up 8% in Q1 versus last year. We also expanded gross margin to 67%, up nearly 500 basis points versus last year. Of the top five color cosmetics brands in the U.S., we were the only one to grow share in the quarter with 5.5% of the market, up 100 basis points versus last year, according to Nielsen. We believe that the successful execution of our strategic imperatives has set the foundation for long-term growth for the e.l.f. brand, as well as a platform for strategic extensions.”

“Today, we are also thrilled to announce that we are partnering with Alicia Keys, 15-time Grammy Award winning artist, producer, actress, and New York Times best-selling author, to create a new lifestyle beauty brand. This brand is a natural extension for us, bringing new meaning to beauty with an inclusive point of view, an authentic voice and a line of skin-loving, dermatologist-developed, cruelty-free products. We look forward to leveraging our operating platform and track record of success to build a multi-brand portfolio and advance our mission to make the best of beauty accessible to all.”

GUIDANCE:

The Company continues to expect sales trends and the economy overall to remain challenged for the next several months. Given the uncertainty around the timing, speed and duration of the recovery from the adverse impacts of COVID-19, the Company is continuing to suspend guidance for fiscal year 2021.

“We expect consumer behavior to remain impacted by COVID-19 at least through the end of the calendar 2020, if not our full fiscal year,” said Mandy Fields, Chief Financial Officer. “We believe that our digital strength, core value proposition and our strong portfolio of brands will position us for long-term growth as consumer behavior normalizes post-COVID.”

For earnings history and earnings-related data on e.l.f. Beauty, Inc. (ELF) click here.

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