E.l.f. Beauty, the makeup company that lots of people love, has some super-duper news. They did really well in the second quarter, even better than everyone thought. Because of that, they now think they’ll do even better for the whole year.
Doing Better Than Expected
This is how E.l.f. did in the second quarter, and it was even better than what the experts thought:
They made 82 cents for each share, while experts expected 53 cents.
They earned $215.5 million, but experts only thought they would make $197.1 million.
In this special three-month time, they made $33.3 million, which is like having 58 cents for each share. That’s much more than the $11.7 million, or 21 cents for each share, they made a year ago. If we take out some special costs and things, they actually made $47.1 million, or 82 cents for each share.
Big Sales Jump
E.l.f. Beauty sold stuff for $215.5 million, which is 76% more than the $122.3 million they sold a year ago. In the last three months, they also had a 76% increase.
Since they did so great, E.l.f. Beauty decided to think even bigger for the whole year. Now, they believe their sales will go up by 55% to 57%, reaching somewhere between $896 million and $906 million. This is even better than the $852 million that experts expected.
Before, they thought their sales would go up by 37% to 39%, reaching $792 million to $802 million.
They also said they’ll make more money. Now, they expect to make between $144 million and $146 million. Before, they thought they would make between $125 million and $127 million. For each share, they think they’ll make between $2.47 and $2.50, while experts thought it would be $2.46. Before, they expected between $2.19 and $2.22 for each share.
Why They’re Doing So Well
E.l.f. Beauty didn’t just spend lots of money on ads; they have a special way of doing things that works. They offer good stuff at low prices, get ideas from fancy brands and their community, and make products that people really like.
In this three months, they sold more things online (up 75%) and in other countries (up 157%). People really liked their skincare things, which went up by more than 100%.
A Bright Future
The CEO of E.l.f. Beauty, Tarang Amin, is very sure about the future. He says their new plans show that they’re on the right track. In the last three years, they already doubled how much of the market they have, and they want to do it again in the next few years.
Making More Money
Even though they sell their things in drug stores and big shops like Walmart and Target, E.l.f. still makes lots of money. They don’t need to give discounts and deals because people already think their stuff is a great deal. They ask stores to sell their things at the regular price, and because lots of people buy them, they can make things more efficiently.