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Ulta stock rises higher after Q3 earnings report

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Yahoo Finance's Emily McCormick breaks down the numbers to know from Ulta's latest earnings report.

Video transcript

ADAM: We've got to get to Emily McCormick. She's got some earnings for us, Emily.

EMILY MCCORMACK: That's right, Adam. I'm taking a look here at shares of Ulta Beauty, which are really rising in late trading here, adding on to gains that we saw during the regular trading session. And that's after the company reported net sales as well as earnings per share that topped Wall Street's expectations.

Now, for the third quarter, we saw net sales of $2 billion, up 29% over last year, better than the estimate for $1.9 billion. And we also saw gross margin exceeding expectations at 39.6%, whereas Wall Street was looking for 37.4%. And then on the bottom line, we had earnings per share of $3.94, which also did grow compared to the $1.32 we saw on that metric in the same period last year. I want to highlight a little bit of commentary here, coming from the CEO. In this earnings statement, that a company saying, quote, "The strong third quarter performance reflects the strength and resiliency of the beauty category, the power of the Ulta Beauty differentiated model, and the impact of our winning culture and team."

Now, finally, it does also seem that investors are reacting favorably to the fact that the company raised its full year guidance. And it now sees comparable sales growing between 36% and 37%, whereas it previously saw a rise of between 30% and 32%. So pretty notable increase there, in terms of what Ulta is expecting for the full year. And again, guys, we are seeing those shares moving higher in the late trading session, now up more than 6%

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