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e.l.f. Beauty (ELF) Reports Q1 Earnings Beat, Revenues Up 15%
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e.l.f. Beauty Inc. (ELF - Free Report) just released its first quarter fiscal 2017 earnings results, posting adjusted earnings of 9 cents per share and revenues of $60.6 million. Currently, ELF is #2 (Buy) on the Zacks Rank, and is down 3.78% to $27.98 per share in trading shortly after its earnings report was released.
e.l.f. Beauty:
Beat earnings estimates. The company reported adjusted earnings of 9 cents per share, beating the Zacks Consensus Estimate of 5 cents per share. This number excludes 5 cents from non-recurring items.
Beat revenue estimates. The company saw revenue estimates of $60.6 million, just edging out our consensus estimate of $59.39 million and increasing 15% year-over-year. This was primarily driven by sales growth across leading national retailers and the company’s direct business.
Gross margin expanded to 63% from 56% in the first quarter of 2016, primarily as a result of margin accretive innovation, coupled with improvements in freight costs and the benefit of foreign exchange rate movements.
e.l.f reaffirmed its outlook for 2017, with expectations for strong revenue growth and expansion in gross margin. The company expects net sales in the range of $285 million and $295 million and adjusted EBITDA between $61 million and $64 million. Adjusted net income is forecasted to fall between $21 million to $23 million, with EPS in the range of 40 cents to 43 cents per share.
“We are pleased to report a strong start to the year as e.l.f. grew net sales by 15%, expanded gross margin nearly 750 basis points, and made progress toward our mission to make luxurious beauty accessible for all,” stated Tarang Amin, Chairman and Chief Executive Officer. “This performance is notable given the significant amount of shipments to customers for shelf resets in Q1 2016.”
Here’s a graph that looks at e.l.f. Beauty’s price, consensus, and EPS surprise:
e.l.f. Beauty Inc. Price, Consensus and EPS Surprise
e.l.f. Beauty operates as a cosmetic company. Its cosmetic category primarily consists of face makeup, eye makeup, lip products, nail products and cosmetics sets/kits, excludes beauty tools and accessories, such as brushes and applicators. e.l.f. Beauty is based in Oakland, United States.
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e.l.f. Beauty (ELF) Reports Q1 Earnings Beat, Revenues Up 15%
e.l.f. Beauty Inc. (ELF - Free Report) just released its first quarter fiscal 2017 earnings results, posting adjusted earnings of 9 cents per share and revenues of $60.6 million. Currently, ELF is #2 (Buy) on the Zacks Rank, and is down 3.78% to $27.98 per share in trading shortly after its earnings report was released.
e.l.f. Beauty:
Beat earnings estimates. The company reported adjusted earnings of 9 cents per share, beating the Zacks Consensus Estimate of 5 cents per share. This number excludes 5 cents from non-recurring items.
Beat revenue estimates. The company saw revenue estimates of $60.6 million, just edging out our consensus estimate of $59.39 million and increasing 15% year-over-year. This was primarily driven by sales growth across leading national retailers and the company’s direct business.
Gross margin expanded to 63% from 56% in the first quarter of 2016, primarily as a result of margin accretive innovation, coupled with improvements in freight costs and the benefit of foreign exchange rate movements.
e.l.f reaffirmed its outlook for 2017, with expectations for strong revenue growth and expansion in gross margin. The company expects net sales in the range of $285 million and $295 million and adjusted EBITDA between $61 million and $64 million. Adjusted net income is forecasted to fall between $21 million to $23 million, with EPS in the range of 40 cents to 43 cents per share.
“We are pleased to report a strong start to the year as e.l.f. grew net sales by 15%, expanded gross margin nearly 750 basis points, and made progress toward our mission to make luxurious beauty accessible for all,” stated Tarang Amin, Chairman and Chief Executive Officer. “This performance is notable given the significant amount of shipments to customers for shelf resets in Q1 2016.”
Here’s a graph that looks at e.l.f. Beauty’s price, consensus, and EPS surprise:
e.l.f. Beauty Inc. Price, Consensus and EPS Surprise
e.l.f. Beauty Inc. Price, Consensus and EPS Surprise | e.l.f. Beauty Inc. Quote
e.l.f. Beauty operates as a cosmetic company. Its cosmetic category primarily consists of face makeup, eye makeup, lip products, nail products and cosmetics sets/kits, excludes beauty tools and accessories, such as brushes and applicators. e.l.f. Beauty is based in Oakland, United States.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9x stock explosion after they launched their iPhone in 2007? Now, 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade, which could, in turn, save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>