e.l.f Beauty (FAIRY) profits Q1 2024

e.l.f Beauty (ELF) earnings Q1 2024

Revealed: The Secrets our Clients Used to Earn $3 Billion

Tarang Amin (C), Chairman and CEO of cosmetics business e.l.f. Beauty Inc., calls the opening bell at the New York Stock Exchange (NYSE) to commemorate his business’s IPO in New York City, U.S. September 22,2016

Brendan McDermid|Reuters

Drugstore makeup brand name e.l.f. Beauty raised its full-year outlook Tuesday after reporting a 76% year-over-year sales dive, sending out shares rising about 15% in prolonged trading.

Here’s what the cosmetics business reported for its financial very first quarter of 2024 and what Wall Street was expecting, based upon a study of experts by Refinitiv:

  • Earnings per share: $1.10, changed, vs. 56 cents anticipated
  • Revenue: $2163 million vs. $184 million anticipated

The business’s reported earnings for the three-month duration that ended June 30 was $53 million, or 93 cents per share, compared to $145 million, or 27 cents per share, a year previously. Excluding one-time products, e.l.f. made $629 million, or $1.10 per share.

Sales skyrocketed to $2163 million from $1226 million a year previously.

The digitally native appeal business, which has actually grown its brand name by utilizing the power of social networks marketing, stated those strong sales were the basis for raising its full-year outlook.

The business stated it anticipates net sales to be in between $792 million and $802 million, compared to a previous series of $705 million to $720 million. Analysts had actually been anticipating a variety in between $713 million and $760 million, according to Refinitiv.

E.l.f. now anticipates adjusted full-year revenues to be in between $125 million and $127 million, compared to a previous series of $985 million to $1005 million.

“This marks our 18th consecutive quarter of delivering both net sales growth and market share gains,” Tarang Amin, e.l.f.’s chairman and CEO, stated in a press release. “We are one of only five publicly traded consumer companies out of 274 that has grown for 18 straight quarters and averaged at least 20% sales growth per quarter over that period.”