e.l.f. Beauty Raises FY24 EPS From $2.47-$2.50 To $2.84-$2.87 Vs $2.74 Est.; Revenue From $896M-$906M To $980M-$990M Vs $927.09M Est.
Portfolio Pulse from Benzinga Newsdesk
e.l.f. Beauty has updated its fiscal 2024 outlook, raising its EPS forecast from $2.47-$2.50 to $2.84-$2.87 and its revenue forecast from $896M-$906M to $980M-$990M, surpassing analyst expectations. The company now expects a 69-71% year-over-year increase in net sales, up from the previously expected 55-57% increase. Adjusted EBITDA, effective tax rate, and net income forecasts have also been updated.
February 06, 2024 | 9:31 pm
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e.l.f. Beauty has significantly raised its fiscal 2024 EPS and revenue forecasts, indicating a stronger financial performance than previously anticipated.
The upward revision in e.l.f. Beauty's fiscal 2024 outlook, especially the EPS and revenue forecasts exceeding analyst expectations, suggests a positive market sentiment and potential stock price appreciation in the short term. The significant increase in expected net sales growth from the previous forecast further strengthens the company's financial outlook, likely leading to increased investor confidence and demand for ELF shares.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100