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Dec 31, 2023
e.l.f. Q3 2024 Earnings Report
Reported strong Q3 2024 results with significant net sales growth and market share gains.
Key Takeaways
e.l.f. Beauty reported an 85% increase in net sales and a 305 basis point gain in market share for Q3 2024, marking the 20th consecutive quarter of growth in each. The company's performance was driven by strength in both retailer and e-commerce channels. They have also raised their fiscal year 2024 outlook.
Net sales increased by 85% to $270.9 million.
Gross margin increased by approximately 350 basis points to 71%.
GAAP diluted earnings per share were $0.46; adjusted diluted earnings per share were $0.74.
The company is raising its fiscal 2024 outlook.
e.l.f.
e.l.f.
Forward Guidance
The company updated its fiscal year 2024 outlook, expecting a 69-71% year-over-year increase in net sales.
Positive Outlook
- Net sales are expected to increase by 69-71% year-over-year.
- Net sales are projected to be $980-990 million.
- Adjusted EBITDA is expected to be $218-220 million.
- Adjusted effective tax rate is expected to be 14%.
- Adjusted net income is projected to be $164-166 million.