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E.l.f. Beauty Tops Profit Forecasts

The 'fast beauty' brand reported fourth-quarter profit of $21.5 million.
E.l.f.'s 'Beautifully Bare Serum Foundation' | Source: E.l.f.
By
  • Associated Press

OAKLAND, California — E.l.f. Beauty Inc. on Tuesday reported fourth-quarter profit of $21.5 million.

On a per-share basis, the Oakland, California-based company said it had net income of 44 cents. Earnings, adjusted for one-time gains and costs, came to 26 cents per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The cosmetics company posted revenue of $81.6 million in the period, which missed Street forecasts. Eight analysts surveyed by Zacks expected $81.7 million.

For the year, the company reported profit of $33.5 million, or 68 cents per share. Revenue was reported as $269.9 million.

E.l.f. Beauty expects full-year earnings in the range of 59 cents to 61 cents per share, with revenue in the range of $286 million to $291 million.

E.l.f. Beauty shares have decreased 8 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $20.48, a drop of 27 percent in the last 12 months.

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