Ulta Beauty Reports Better-Than-Expected Q1 Results, Lowers FY24 Guidance
Portfolio Pulse from Erica Kollmann
Ulta Beauty (NASDAQ: ULTA) reported better-than-expected Q1 earnings and sales, but lowered its FY24 guidance. The company saw a 1.6% increase in comparable sales and opened 12 new stores. Despite the positive Q1 results, Ulta adjusted its full-year sales and EPS guidance downward, anticipating continued challenges.
May 30, 2024 | 8:35 pm
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Ulta Beauty reported better-than-expected Q1 earnings and sales, but lowered its FY24 guidance. The company saw a 1.6% increase in comparable sales and opened 12 new stores. Despite the positive Q1 results, Ulta adjusted its full-year sales and EPS guidance downward, anticipating continued challenges.
While Ulta Beauty reported better-than-expected Q1 earnings and sales, the downward revision of its FY24 guidance suggests potential challenges ahead. This mixed news is likely to result in a neutral short-term impact on the stock price.
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