Ulta beats on earnings, raises full-year guidance

Yahoo Finance's Emily McCormick breaks down quarterly earnings for Ulta.

Video transcript

RACHELLE AKUFFO: All right, we're heading for an earnings alert now and also is reporting after the bell. Let's bring in Yahoo Finance's Emily McCormick for the update. Emily.

EMILY MCCORMICK: Well, Rachelle, it's a beat and a raise here for Ulta. And those shares are climbing in the afterhours session as a result of these results here. Let's take a look at what Ulta had to say about its full year earnings outlook because, again, it did raise that guidance on the bottom line.

The company seeing adjusted-- or seeing earnings per share between $19.20 $20.10. Previously, it saw between $18.20 to $18.70. So, certainly, quite a bit of an increase there on that bottom line guidance. Then for net sales, Ulta sees between $9.35 billion to $9.55 billion for the full year. Previously saw between $9.05 billion to $9.15 billion. So, again, an improvement on that top line outlook as well.

Now, taking a look at the first quarter results here that Ulta just posted, earnings per share came out to $6.30, well above Wall Street's estimates for $4.45. And net sales of $2.35 billion were up 21% over last year, also ahead of estimates. So, guys, this was another one of the retailers, like some of the others that we saw in the past 24 hours, actually exceeding consensus expectations on the top and bottom lines and also raising its outlook. Guys.

RACHELLE AKUFFO: All right, thank you. Yahoo Finance's own Emily McCormick there.