On the back of beating expectations for its fiscal third quarter, E.l.f Beauty has raised its guidance for the fiscal year.
The beauty giant’s revenue grew 38% to US$489.5 million and beat analysts' expectations of $460 million.
The company said this was driven by both its retailer and e-commerce channels, in the U.S. and internationally.
“Our Q3 results, which included 130 basis points of market share gains for our namesake e.l.f. Cosmetics brand and a record-breaking launch of rhode in Sephora in the UK, are a continuation of the consistent, category-leading growth we’ve delivered over the past 28 quarters,” E.l.f Beauty chairman and CEO Tarang Amin said.
Recently acquired skincare brand Rhode contributed $128 million to the company’s net third-quarter sales growth.
E.l.f told CNBC that it expects Hailey Bieber’s skincare brand to contribute up to $265 million in net sales this year, up $65 million from previous guidance.
The company also raised overall revenue guidance and now expects it rise 22% to 23% year-over-year.
Net income for the company came in at $1.24 per share, surpassing expectations of 72 cents per share.
It also raised net income expectations from between $2.80 and $2.85 per share to $3.05 and $3.10 per share.
“We remain confident in our ability to grow market share and deliver best-in-class growth in beauty, as reflected by our raised fiscal 2026 outlook,” Amin said.
E.l.f (NYSE: ELF) stocks closed down 0.21% to $84.63. Its market cap is $5.03 billion. Shares jumped 3.1% to $87.25 in after-market trading.
