E.l.f. Beauty ‘s latest financial results smashed Wall Street estimates, as demand for its low-priced cosmetic products remained strong.
The company also raised revenue guidance for fiscal 2024, which ends in March. E.l.f. now expects full-year revenue between $869 million and $906 million, ahead of its previous range of $792 million to $802 million. E.l.f. sells makeup and skincare products at lower prices than many other cosmetics companies, and is popular with lower-income, younger shoppers that discover most of the company’s products through social media. For instance, E.l.f. recently released new lip oils that retail for $8. A lip oil serum from prestige competitor Estée Lauder is priced at $36.
When asked what sets e.l.f. apart from prestige, international competitors, Field highlighted e.l.f.’s approach.
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