e.l.f. Q2 2021 Earnings Report
Key Takeaways
e.l.f. Beauty announced its Q2 Fiscal Year 2021 results, showcasing a 7% increase in net sales and a gross margin expansion of 100 basis points. The company's commitment to inclusive, accessible, and cruelty-free beauty continues to resonate with consumers, marking the seventh consecutive quarter of net sales growth.
Net sales increased by 7% to $72.4 million compared to the same period last year.
Gross margin increased by 100 basis points to 65%.
e.l.f. was the only top five color cosmetics brand in the U.S. to post growth and gain market share.
The company unveiled Keys Soulcare and launched its recharged W3LL PEOPLE brand.
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Forward Guidance
The Company is providing the following outlook for fiscal 2021. When compared to net sales in fiscal 2020, the outlook for fiscal 2021 reflects an expected 5-7% increase in net sales.
Positive Outlook
- Net sales are expected to increase by 5-7% compared to fiscal 2020.
- Digital strength
- Core value proposition
- Continued execution of strategic imperatives will fuel our performance
- The company believes it has better visibility for the balance of its fiscal year
Challenges Ahead
- Uncertainty remains related to the duration and potential impact of the COVID-19 pandemic
- Uncertainty related to the overall economic environment
- Expect consumer behavior to be impacted by COVID-19 through the rest of our fiscal year
- Guidance assumes no significant disruption to its consumers
- Guidance assumes no significant disruption to its customers or supply chain for the remainder of fiscal 2021