e.l.f. Q3 2022 Earnings Report
Key Takeaways
e.l.f. Beauty announced its Q3 Fiscal 2022 results, highlighting an 11% increase in net sales compared to the same period last year. The company's growth was primarily fueled by strong performance in both national and international retail channels. e.l.f. Beauty also raised its Fiscal Year 2022 guidance, reflecting confidence in continued momentum.
Net sales increased by 11% to $98.1 million, driven by strength in national and international retailers.
Gross margin increased by approximately 110 basis points to 66%, primarily driven by product mix, pricing, and cost savings.
Net income was $6.2 million, with diluted earnings per share at $0.12 on a GAAP basis.
The company raised its Fiscal 2022 guidance, expecting a 17-19% increase in net sales.
e.l.f.
e.l.f.
Forward Guidance
The Company is providing the following updated outlook for fiscal 2022. When compared to the previous outlook, the updated outlook for fiscal 2022 reflects an expected 17-19% increase in net sales, as compared to an expected 14-16% increase previously and Adjusted EBITDA of $70-$72 million, as compared to $66.5-$68 million previously.
Positive Outlook
- Net sales are expected to increase by 17-19%.
- Adjusted EBITDA is projected to be $70-$72 million.
- Adjusted effective tax rate is expected to be 22-23%.
- Adjusted net income is anticipated to be $40-$42 million.
- Adjusted diluted earnings per share are forecasted to be $0.73-$0.76.