We are starting to see benefit from actions we are taking to reinforce our market position and improve our performance. - Dave Kimbell
— Dave Kimbell
03Detailed Report
ULTA
Ulta Beauty Inc
Period
Q3 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 27, 2026
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Executive Summary
Ulta Beauty Inc reported Q3 2024 results demonstrating resilience with a 1.7% increase in net sales to $2.5 billion and a 0.6% rise in comparable sales. Despite facing headwinds from a competitive landscape, particularly in the prestige beauty segment, management expressed optimism over improved market share trends, with flat market share reported for the quarter. The company's strategic focus on product innovation, expanding its loyalty program to 44.4 million active members, and enhancing marketing efforts were highlighted as contributing factors to their performance. Continued investments in technology and customer engagement were also outlined as part of their longer-term growth strategies.
Management noted, "We are navigating a number of headwinds, including the normalization of the US beauty category...and elevated competition, particularly in prestige beauty." This indicates the company is aware of market dynamics affecting performance. Incremental improvements in comp sales growth from both stores and e-commerce channels further reinforce their adaptive strategies to enhance performance under challenging conditions.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
2.53B
-28.82%
-0.86%
Gross Profit
1.01B
-24.98%
2.81%
Operating Income
318.50M
-38.77%
-3.25%
Net Income
242.18M
-38.59%
-4.11%
EPS
5.16
-36.53%
-3.01%
Key Financial Ratios
Gross Profit Margin
Fair
39.70%
Gross profit margin is moderate, room for improvement in cost management
Operating Profit Margin
Fair
12.60%
Operating margin is moderate, room for improvement in cost management
Net Profit Margin
Fair
9.57%
Net profit margin is moderate, room for improvement in cost management
Return on Assets
Fair
4.06%
Return on assets is acceptable but below top-tier companies
Return on Equity
Fair
10.40%
Return on equity is acceptable but below top-tier companies
Current Ratio
Healthy
1.63
Current ratio shows adequate liquidity to meet short-term obligations