E.l.f. Beauty Posts 51% Sales Growth, Raises Full-Year Guidance

According to CNBC, E.l.f. Beauty reported second-quarter net sales of $520.8 million, up 51% from a year earlier and above the $470.3 million analysts expected. Adjusted earnings per share were $1.21, compared with the 60 cents analysts expected. For the period ended Sept. 30, net income was $30.03 million, or 50 cents per share, up from roughly $3 million, or 5 cents per share, a year earlier. The company raised its full-year net sales outlook to $2 billion to $2.03 billion from $1.94 billion to $1.97 billion, and its adjusted EBITDA projection to $421 million to $427 million from $401 million to $407 million. E.l.f. now expects adjusted earnings per share of $3.82 to $3.86, up from $3.50 to $3.55, and net income of $231 million to $233 million, up from $212 million to $215 million.