{"id":13483,"date":"2023-05-25T04:12:58","date_gmt":"2023-05-25T08:12:58","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/elf-beauty-stock-rallies-11-after-companys-sales-jump-nearly-80\/"},"modified":"2023-05-25T04:12:59","modified_gmt":"2023-05-25T08:12:59","slug":"elf-beauty-stock-rallies-11-after-companys-sales-jump-nearly-80","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=13483","title":{"rendered":"Elf Beauty stock rallies 11% after company\u2019s sales jump nearly 80%"},"content":{"rendered":"
\n

Shares of Elf Beauty Inc. rose as much as 11% in the aftermarket Wednesday after the cosmetics company reported roaring quarterly sales and earnings that were well above Wall Street expectations, and raised its guidance for the year. <\/p>\n

Elf
\n ELF,
\n +1.69%<\/bg-quote>
\n earned $16.2 million, or 29 cents a share, in the fourth quarter, compared with $1.56 million, or 3 cents a share, in the year-ago quarter. Adjusted for one-time items, Elf earned 42 cents a share. <\/p>\n

\n

Revenue rose 78% to $187.4 million, mostly thanks to \u201cstrength\u201d across Elf\u2019s retail and e-commerce channels, the company said. Gross margins also increased on pricing, lower transportation costs, product mix and cost savings, Elf said.<\/p>\n

Analysts polled by FactSet expected Elf to report adjusted earnings of 20 cents a share on sales of $156 million. <\/p>\n

\u201cWe gained 270 basis points of market share in the quarter and increased our ranking to the No. 3 U.S. mass cosmetics brand for the first time, according to Nielsen,\u201d Chief Executive Tarang Amin said in a statement. \u201cAs we look ahead, we believe we are still in the early innings of unlocking the full potential we see for Elf Beauty.\u201d<\/p>\n

Elf guided for fiscal 2024 sales between $705 million and $720 million, which would reflect a 22% to 24% increase in net sales, and adjusted EPS between $1.73 and $1.76. <\/p>\n

The metrics compare with FactSet consensus of fiscal 2024 EPS of $1.43 a on sales of $548 million. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Elf Beauty Inc. rose as much as 11% in the aftermarket Wednesday after the cosmetics company reported roaring quarterly sales and earnings that were well above Wall Street expectations, and raised its guidance for the year. Elf ELF, +1.69% earned $16.2 million, or 29 cents a share, in the fourth quarter, compared with […]<\/p>\n","protected":false},"author":1,"featured_media":13484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-13483","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nElf Beauty stock rallies 11% after company\u2019s sales jump nearly 80% | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Elf Beauty Inc. rose as much as 11% in the aftermarket Wednesday after the cosmetics company reported roaring quarterly sales and earnings that\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=13483\" \/>\n<meta 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