Ulta Beauty (ULTA) Q2 2026 Earnings
How Did ULTA Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: −0.87%.
Did ULTA Beat Earnings? Q2 2026 Results
Yes. Ulta Beauty reported Q2 2026 earnings of $6.55 a share on Aug 27, 2026, beating the $6.20 consensus estimate by 5.6%. Revenue was $3.0B against a $3.0B estimate.
Ulta Beauty delivered a convincing second-quarter beat in fiscal 2026, with the specialty beauty retailer posting GAAP diluted EPS of $6.55, ahead of the $6.20 consensus estimate by 5.61%, as net sales climbed 8.9% year-over-year to $3.04 billion, clearing Wall Street's $2.98 billion forecast by 1.75%. The results were powered by a combination of a 3.8% comparable sales increase, contributions from the Space NK acquisition, and new store openings that pushed the total count to 1,622 locations globally. Net income rose to $282.01 million from $260.88 million a year ago, while disciplined SG&A management, which improved to 26.4% of sales from 26.6%, helped lift operating income 10.1% to $379.64 million. Encouraged by the momentum, management raised full-year guidance, now targeting net sales growth of 6.7% to 7.2% and GAAP diluted EPS of $28.70 to $29.00, while also boosting its fiscal 2026 share repurchase plan to $1.80 billion, reflecting confidence in sustained demand across fragrance, skincare, and wellness categories.
- Comparable sales growth of 3.8%
- Acquisition of Space NK contributing incremental sales
- New store openings (15 net new stores in Q2, 31 net new in first half)
- SG&A leverage improving to 26.4% of sales from 26.6%
- Share repurchases reducing diluted share count from 45,112 to 43,062
- Category mix shift with haircare and fragrance gaining share
“Our team delivered another impressive quarter of strong sales, profit, and earnings growth, demonstrating that we are executing with discipline and translating our Ulta Beauty Unleashed strategy into tangible benefits for our guests.”
Ulta Beauty CEO, on the earnings call
What Is Ulta Beauty's Outlook?
Ulta Beauty raised its fiscal 2026 guidance: net sales growth of 6.7% to 7.2% (previously 6% to 7%), comparable sales growth of 3.2% to 3.7% (previously 2.5% to 3.5%), operating income growth of 8.3% to 9.3% (previously 6.5% to 9%), diluted EPS of $28.70 to $29.00 (previously $28.36 to $28.80), and capital expenditures of $400 million to $450 million (unchanged). The company increased its fiscal 2026 stock repurchase plan to $1.8 billion from $1.5 billion and expects to utilize the remaining $1.0 billion under its current $3.0 billion share repurchase authorization by the end of fiscal 2026.
ULTA YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $3.0B | $2.8B | +8.9% |
| Gross Profit | $1.2B | $1.1B | +8.7% |
| Operating Income | $379.6M | $350.0M | +8.5% |
| Net Income | $282.0M | $260.9M | +8.1% |
When Does Ulta Beauty Report Next?
Figures from SEC filings and company reports. Not investment advice.