e.l.f. Beauty, Inc. (ELF) Tops Q4 EPS by 5c, Revenues Beat; Suspends FY21 Guidance

e.l.f. Beauty, Inc. (NYSE: ELF) reported Q4 EPS of $0.10, $0.05 better than the analyst estimate of $0.05. Revenue for the quarter came in at $74.71 million versus the consensus estimate of $67.06 million.

“Fiscal 2020 was a terrific year for e.l.f. Beauty. We saw four quarters of net sales growth, culminating in a 16% increase in the fourth quarter versus prior year. We also expanded gross margin 300-basis points, compared to the prior year,” said Tarang Amin, e.l.f. Beauty’s Chairman and CEO. “Of the top five color cosmetics brands in the U.S., e.l.f. Cosmetics grew the most market share in fiscal 2020 with 4.8% of the market, up 50 basis points, according to Nielsen."

"Given our fiscal 2020 results and execution of our five strategic imperatives, we believe we are well positioned relative to the category to navigate the challenges posed by COVID-19. Our mission to make the best of beauty accessible to every eye, lip and face is more important than ever. While the current environment is challenging, we believe our talented team, digital strength and core value proposition will enable us to continue to gain market share.”

Company outlook

Looking forward, the Company expects sales trends and the economy overall to remain volatile 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 suspending guidance for fiscal year 2021.

“We believe the steps we’ve taken to fortify our balance sheet and reduce expenses will help us navigate these unprecedented times,” said Mandy Fields, Chief Financial Officer. “We remain focused on executing our five strategic imperatives and advancing our strategic extensions, which gives me optimism in the long-term potential of our company.”

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

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