e.l.f. Q2 2024 Earnings Report
Key Takeaways
e.l.f. Beauty reported a strong second quarter, with net sales increasing by 76% and category share growing by 330 basis points. The company's performance was driven by strength in both retailer and e-commerce channels. The company raised its fiscal year 2024 outlook.
Net sales increased 76% to $215.5 million.
Gross margin increased approximately 570 basis points to 71%.
Diluted earnings per share were $0.58 on a GAAP basis and adjusted diluted earnings per share were $0.82.
The company is providing an updated outlook for fiscal 2024, reflecting an expected 55-57% year-over-year increase in net sales.
e.l.f.
e.l.f.
Forward Guidance
The Company is providing the following updated outlook for fiscal 2024. The updated outlook for fiscal 2024 reflects an expected 55-57% year-over-year increase in net sales, as compared to an expected 37-39% increase previously.
Positive Outlook
- Net sales $896-906 million
- Adjusted EBITDA $197-200 million
- Adjusted effective tax rate 17-18%
- Adjusted net income $144-146 million
- Adjusted diluted earnings per share $2.47-2.50