
• Reported GAAP EPS of $8.05 down -5.29% YoY • Reported revenue of $3.9B up 11.78% YoY • Ulta Beauty anticipates fiscal 2026 net sales growth of 6.0% to 7.0%, comparable sales growth of 2.5% to 3.5%, and diluted EPS growth of 9.4% to 11.4%, with diluted EPS projected between $28.05 and $28.55.
Bullish
Ulta Beauty demonstrated strong sales growth, with net sales up 11.8% and comparable sales increasing 5.8% in the fourth quarter, while also returning significant capital to shareholders.
Bearish
Ulta Beauty experienced fourth quarter operating income and gross profit margin compression, with operating income decreasing to 12.2% of net sales and SG&A expenses increasing to 25.7% of net sales.