© Reuters. e.l.f. Beauty reports Q2 beat & raises guidance, shares surge 9%
(Updated – November 2, 2023 7:45 AM EDT)
e.l.f. Beauty (NYSE:) shares rose more than 14% pre-market Thursday following the company’s reported Q2 results, with EPS of $0.82 coming in better than the consensus estimate of $0.52.
Revenue increased 76% year-over-year to $215.5 million, compared to the consensus estimate of $197.1M, primarily driven by strength in both retailer and e-commerce channels.
“As we look ahead, the significant whitespace we see across color cosmetics, skin care and international gives us confidence that we are in the early innings of unlocking the full potential we see for e.l.f. Beauty,” said CEO Tarang Amin.
The company expects full 2024-year EPS in the range of $2.47-$2.50 (vs. prior $2.19-2.22), compared to the consensus of $2.44, and revenue in the range of $896-$906M (vs. prior $792-$802M), compared to the consensus of $840M.
Analysts at Oppenheimer said the company delivered another strong print.
“Guidance still appears conservative to us. We continue to look very favorably upon the ELF management team and its consistent execution. We remain sidelined solely due to valuation and are closely watching management’s ability to lap very difficult compares in the coming quarters. ELF shares remain on our radar,” they said.
Additional reporting by Senad Karaahmetovic
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