Ulta Beauty beats Q2 estimates as sales rise, but shares slip

Ulta Beauty Inc. (NASDAQ:ULTA) exceeded analyst expectations in the second quarter, with adjusted earnings per share of $6.55 surpassing the consensus of $6.17. Revenue grew 8.9% to $3.04 billion, outpacing the $2.98 billion estimate. Comparable sales rose 3.8%, though this was a decline from 6.7% growth in the same quarter last year.

Despite an initial rise in shares during extended trading, they fell more than 3% in premarket trading. Ulta Beauty's CEO, Kecia Steelman, attributed the strong performance to disciplined execution of the Ulta Beauty Unleashed strategy. The company raised its full-year guidance, projecting earnings per share of $28.70 to $29.00, up from $28.36 to $28.80.

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