"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
03Detailed Report
ULTA
Ulta Beauty Inc
Period
Q4 2023
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 27, 2026
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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
Management Insights Available for Members
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