Ulta Beauty Inc. (NASDAQ: ULTA) said on Thursday that its sales and profit in the fiscal fourth quarter came in lower than what analysts had anticipated. The company also named its president, David Kimbell, as the next CEO to replace Mary Dillon.
Ulta Beauty shares tanked roughly 8% in extended trading on Thursday. Including the price action, the stock now has a per-share price of £233.
Ulta Beauty’s Q4 financial results versus analysts’ estimates
Ulta Beauty said that its net income in the fourth quarter printed at £122.61 million that translates to £2.17 per share. In the same quarter last year, its net income stood at a higher £159.29 million or £2.78 per share.
On an adjusted basis, the American company earned £2.44 per share in Q4. As per Ulta Beauty, it generated £1.57 billion of revenue in the recent quarter – a slight decline from £1.64 billion last year.
According to FactSet, experts had forecast the company to record £1.64 billion of revenue in the fourth quarter. Their estimate for adjusted per-share earnings stood at a higher £2.67. In comparison, Ulta Beauty had registered £1.15 billion of net sales in the prior quarter (Q3).
For the full financial year, Ulta Beauty registered £125.69 million of net income. The chain of beauty stores noted £4.43 billion of full-year revenue. In comparison, the Bolingbrook-based company had posted £504.68 million of profit in 2019 and £5.29 billion of revenue.
In separate news from the U.S., Poshmark also published its quarterly financial report on Thursday.
Chief Executive Mary Dillon’s comments on Thursday
Chief Executive Mary Dillon commented on the earnings report on Thursday and said:
“We begin fiscal 2021 with a strong foundation in place and good operational momentum. We are strategically investing in our business to drive further market share gains, and, as separately announced today, we are beginning to execute a thoughtful succession plan that ensures we continue to benefit from strong, experienced leadership for the next chapter of growth. I remain excited about the long-term opportunity for Ulta Beauty, and I am confident we will continue to shape and lead the beauty industry for many years to come.”
Ulta Beauty performed fairly upbeat in the stock market last year with an annual gain of close to 15%. At the time of writing, it is valued at £14 billion and has a price to earnings ratio of 87.64.
The post Ulta Beauty falls shy of Wall Street estimates in the fiscal fourth quarter appeared first on Invezz.
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Wajeeh Khan
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