E.LF. Beauty records 12th consecutive quarterly sales uptick
E.L.F Beauty announced on Wednesday its net sales for the third quarter ending December 31 increased 11% for a total of $98.1 million, as the cosmetic brand registered its 12th consecutive quarterly sales uptick.
The Oakland, California-based company said net income for the third quarter totalled $6.2 million on a GAAP basis, compared to $ 4.297 million for the same quarter last year. Diluted earnings per share were $0.12 on a GAAP basis, compared to $0.08 last year.
For the nine months ending December 31, the cosmetics brand registered net sales of $287 million, an uptick of 27%, driven by strength in its national and international retailers. Net income was $20.2 million on a GAAP basis and diluted earnings per share were $0.38 for the nine months.
“I am proud of the E.L.F. Beauty team for achieving our twelfth consecutive quarter of net sales growth,” said Tarang Amin, E.L.F. Beauty's chairman and chief executive officer.
“E.L.F. remains the only Top 5 color cosmetics brand with sales growth and market share above pre-pandemic levels. Our innovation, digitally led strategy, core value proposition and ability to adapt at E.L.F. speed continue to fuel our performance. Given our momentum, we are raising our fiscal 2022 guidance.”
Looking ahead, the beauty company now expects a 17-19% increase in net sales for fiscal 2022, as compared to an expected 14-16% increase previously. It now expects an adjusted EBITDA of $70-$72 million, as compared to $66.5-$68 million previously.
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