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Ulta shares plummet as profit and sales miss expectations and company slashes outlook

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Shares of Ulta Beauty tanked 21% after the company reported earnings after the bell Thursday that missed analysts' expectations and slashed its outlook for the fiscal year.

tanked more than 20% after the company reported earnings after the bell Thursday that missed analysts' expectations and slashed its outlook for the fiscal year.Adjusted earnings per share: $2.76, vs. $2.80 expectedThe company lowered its earnings forecast to a range of $11.86 to $12.06 per share from a prior range of $12.82 to $13.03 per share. It also cut its revenue growth expectations to between 9% and 12%. Previously, it said it expected low double-digit growth.

"The Ulta Beauty team delivered another quarter of solid top-line performance, gross margin expansion, and double-digit earnings growth," said CEO Mary Dillon. "Looking forward, we have updated our fiscal 2019 outlook to reflect the headwinds we are currently seeing in the US cosmetics market. We remain confident that our guest-centric, differentiated business model will drive continued market share gains and strong returns for our shareholders over the long term.

The company reported net income of $161.3 million, or $2.76 per share, compared with $148.3 million, or $2.46 per share, a year ago. This missed Wall Street's expectations of $2.80 in earnings per share. Its revenue rose 12% to $1.67 billion, compared with $1.49 billion a year earlier. This was slightly lower than analyst expectations of $1.68 billion in net sales.

 

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Ulta Beauty is tumbling on earnings, but one trader sees strength aheadInvestors are ditching Ulta Beauty in the extended session Thursday, but one trader sees a strong fundamental case for the stock. Massive corporate tax break and still not blowing out numbers. Yep in this dimwit environment that’s a buy so the insiders can sell and leave you holding the bag. ULTA expensive. One of the shittiest companies to work for.
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