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Jun 30, 2021
e.l.f. Q1 2022 Earnings Report
Reported a strong first quarter with net sales growth and market share gains.
Key Takeaways
e.l.f. Beauty announced exceptional first quarter results, with a 50% increase in net sales and market share gains in the U.S. color cosmetics market. The company is raising its fiscal 2022 outlook due to the strong performance and expectations for continued momentum.
Net sales increased by 50% to $97.0 million.
e.l.f. Cosmetics was the only top 5 U.S. color cosmetics brand to post growth and gain share relative to pre-pandemic levels.
Gross margin decreased to 63.8% due to unfavorable foreign exchange rates, elevated transportation costs, and increased inventory adjustments.
The company is raising its fiscal 2022 outlook.
Forward Guidance
The company updated its outlook for fiscal year 2022, expecting a 12-14% increase in net sales.
Positive Outlook
- Net sales are expected to increase by 12-14% compared to fiscal 2021.
- Net sales are expected to be $357-364 million.
- Adjusted EBITDA is expected to be $66.5-68.0 million.
- Adjusted net income is expected to be $36.0-37.5 million.
- Adjusted diluted earnings per share are expected to be $0.65-0.68.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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