Ulta Beauty (ULTA) Q1 earnings 2026

Ulta Beauty On Tuesday, the retailer reported quarterly results that beat its top and bottom lines and raised its earnings outlook as it got off to a strong start to the fiscal year.

The company’s shares rose as much as 7% in extended trading.

Here’s how the company performed in the first fiscal quarter compared to Wall Street expectations, according to a survey of LSEG analysts:

• Earnings per share: Expected $7.74 while it was $6.86
• Revenues: 3.16 billion dollars, while the expectation was 3.10 billion dollars

For the three months ending May 2, Ulta’s net sales increased approximately 11% compared to the prior-year period. It reported comparable sales rose 5.3%, compared to StreetAccount estimates of a 4.6% increase.

Ulta reaffirmed its full-year same-store sales and revenue forecasts but raised its full-year EPS forecast to between $28.36 and $28.80. Its previous outlook was for earnings per share between $28.05 and $28.55.

“Fiscal year 2026 is off to a strong start, driven by broad-based growth across all channels and key categories,” CEO Kecia Steelman said in a statement. “Our results demonstrate the strengths of our model, the focused execution of our talented partners, and the effectiveness of our strategy in an uncertain macroeconomic environment.”

On a call with analysts Tuesday, Steelman said the quarter’s launch of Ulta’s TikTok Shop, which focuses on Ulta-specific products, contributed to the success. The company also launched more than 20 new brands during the quarter, including Selena Gomez’s popular makeup brand Rare Beauty.

The company said its strongest category this quarter was fragrances, which rose from 11% to 12% of total revenue.

The gains came as consumer confidence fell amid rising gas prices and rising inflation, leading to a pullback in discretionary spending.

“We operate from a position of strength in this environment and have multiple tools to meet guests’ value needs,” Steelman said on the call.