5 Stocks That Delivered Upbeat Financial Results

In this article, we discuss the 5 stocks that delivered upbeat financial results. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks That Delivered Upbeat Financial Results.

5. Ulta Beauty, Inc. (NASDAQ: ULTA)

Number of Hedge Fund Holders: 40

Ulta Beauty, Inc. (NASDAQ: ULTA) was established in 1990 with the concept of providing all beauty products under one roof.  The wide range of brands gradually helped it become one of America’s biggest cosmetics companies. Ulta has an extensive product portfolio comprising cosmetics, fragrance, skin and hair products, and much more.

The company recently came into the limelight after announcing record financial results for the second quarter. Ulta Beauty, Inc. (NASDAQ: ULTA) reported earnings of $4.56 per share for the three months ended July 31, beating the consensus forecast of $2.57 per share. Ulta had reported earnings of just 14 cents per share in the year-ago quarter.

Revenue for the quarter climbed 60 percent on a year-over-year basis to $2 billion, ahead of analysts’ average estimate of $1.8 billion. In addition, same-store sales jumped 56 percent in the quarter, mainly due to improved consumer confidence and lesser mobility restrictions.

Speaking on the results, CEO Dave Kimbell said:

“This performance reflects the recovery of the beauty category, investments and choices we’ve made over the last year to adapt to the market disruption and strengthen our leadership position, and the ongoing efforts of our associates to deliver great experiences for our guests.”

Ulta Beauty, Inc. (NASDAQ: ULTA) also updated its profit and sales guidance for the full year. The beauty retailer now expects earnings in the range of $14.50-$14.70 per share, up from its previous forecast of $11.50-$11.95 per share. Revenue for fiscal 2021 is now expected to come between $8.1 billion and $8.3 billion, compared to its earlier outlook in the range of 7.7 billion and $7.8 billion.