E.l.f. Beauty Shares Climb After Q3 Earnings Beat, Raises 2024 Guidance Above Estimates
Portfolio Pulse from Erica Kollmann
E.l.f. Beauty, Inc. (NYSE:ELF) shares surged after reporting Q3 earnings of 74 cents per share, surpassing the 51 cents estimate, and raising its 2024 guidance above expectations. Quarterly sales reached $270.94 million, beating the $231.13 million estimate. The company has seen consistent growth, marking its 20th consecutive quarter of growth in sales and market share. E.l.f. raised its FY 2024 EPS guidance to $2.84-$2.87 and revenue guidance to $980-$990 million.
February 06, 2024 | 9:53 pm
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POSITIVE IMPACT
E.l.f. Beauty's Q3 earnings exceeded expectations with a significant increase in sales and earnings per share, leading to a raised guidance for 2024.
E.l.f. Beauty's impressive Q3 performance and the upward revision of its 2024 guidance signal strong company growth and operational efficiency. This positive news is likely to increase investor confidence and demand for ELF shares, driving up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100