Ulta Beauty Inc (ULTA) Q4 2023 Earnings Report

Next: Q1 2024

Ulta Beauty Inc

ULTA

$601.50 12.65%

Exchange: NASDAQ | Sector: Consumer Cyclical | Industry: Specialty Retail

Q4 2023

Published: Jan 31, 2024

Earnings Highlights

Revenue of $3.55B up 34.9% year-over-year
EPS of $8.08 increased by 17.5% from previous year
Gross margin of 37.7%
Net income of 394.37M
""We appreciate your interest in Ulta Beauty. The Ulta Beauty team delivered strong performance again this quarter with sales, operating margin and EPS all exceeding our internal expectations."" - David Kimbell, CEO

ULTA

Ulta Beauty Inc

Period Q4 2023

Currency USD

Report Type Quarterly Earnings

Generated Dec 8, 2025

Executive Summary

Ulta Beauty Inc delivered exceptional financial performance in Q4 2023, marked by a 10.2% increase in net sales to $3.6 billion and a diluted EPS of $8.08. The results were driven by robust traffic trends, effective marketing campaigns, and significant growth in digital channels. More than half of the year-over-year increase was attributed to new product launches, enhanced store experiences, and strengthening of their loyalty program, culminating in improved member retention and acquisition. The company remains optimistic about continued growth in the beauty sector despite facing competitive intensity and external market pressures moving into fiscal 2024.

Key Performance Indicators

Revenue

Increasing

3.55B

QoQ: 0.00% | YoY: 34.93%

Gross Profit

Increasing

1.34B

37.72% margin

QoQ: 0.00% | YoY: 27.08%

Operating Income

Increasing

520.20M

QoQ: -0.60% | YoY: 16.97%

Net Income

Increasing

394.37M

QoQ: 0.00% | YoY: 13.63%

EPS

Increasing

8.13

QoQ: 0.00% | YoY: 17.49%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue: $3.6 billion (Q4), up 10.2% YoY.
Gross Profit: $1.34 billion, with a gross margin of 37.7%.
Operating Income: $520 million, representing 14.5% of sales.
Net Income: $394.4 million, a 13.6% increase YoY.
EPS: $8.08, up 21% YoY.
Comparable Sales: Increased by 2.5%, driven by a 4.5% rise in transactions. Key metrics indicate resilience with digital channels growing high single digits amid promotional pressures in prestige categories.
Management noted effective expense management led to a reduction in SG&A as a percentage of sales to 23.1% from 23.6% in the previous year.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	3.55B	34.93%	0.00%
Gross Profit	1.34B	27.08%	0.00%
Operating Income	520.20M	16.97%	-0.60%
Net Income	394.37M	13.63%	0.00%
EPS	8.13	17.49%	0.00%

Key Financial Ratios

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q3 2024	2,530.10	5.14	-28.8%	View
Q2 2024	2,552.09	5.30	+2.5%	View
Q1 2024	2,725.85	6.47	+7.8%	View
Q4 2023	3,554.30	8.08	+34.9%	View

Ulta Beauty Inc (ULTA) Q4 2023 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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