Ulta Beauty Inc. (ULTA) shares are surging on Friday’s pre-market. As of this writing, ULTA has gained 5.07% and trading at $345.00 per share.
Ulta Beauty Inc. (ULTA) shares jumped 4.66% in after-market on Thursday, May 27, 2021, and close the session at $343.65 per share. Earlier on Thursday, ULTA’s stock gained 0.27% to close Thursday’s morning session at $328.36. ULTA shares have risen 34.96% over the last 12 months, and they have moved up 3.06% in the past week. Over the past three months, the stock has gained 1.87%, while over the past six months, it has soared15.33%.
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Let’s discuss its recent developments.
Financial results announcement
On May 27, 2021, Ulta Beauty Inc announced its financial results for the first quarter ended May 1, 2021.
Q1 2021 financial highlights
- Ulta Beauty reported net sales of $1.9 billion in Q1 2021 compared to $1.2 billion in Q1 2020.
- In Q1 2021, Gross profit was $753.8 million compared to $303.6 million in the first quarter of fiscal 2020.
- Selling, general and administrative expenses were $443.9 million in Q1 2021 compared to $380.9 million in the first quarter of 2020.
- Operating income was $305.3 million in Q1 2021 compared to an operating loss of $101.5 millionQ1 2020.
- In Q1 2021, net income was $230.3 million compared to a net loss of $78.5 million in the first quarter of 2020.
- In Q1 2021, diluted earnings per share were $4.10, compared to diluted loss per share of $1.39 in the first quarter of fiscal 2020.
- Ulta Beauty had cash and cash equivalents of $947.5 million on May 1, 2021.
Partnership with The Good Patch Wellness
On May 11, 2021, Ulta Beauty teamed up with wellness brand, “The Good Patch” to offer guests a curated and exclusive range of products. the complementing consumers ‘can avail the latter’s best-selling wellness patches on Ulta.com and at the company’s 450storefronts nationwide.
The ULTA stock is performing well since yesterday because of its exceptional financial results which took its stock price to new heights. We can see ULTA continuing its surge in the after-hours on Friday as well.