E.l.f. Beauty on Thursday cut its full-year guidance after seeing a 36% drop in profits and “softer than expected” sales trends in January, marking a rare downturn for one of beauty’s hottest brands.Â
The cosmetics company reported holiday sales that were higher than expected but profits that narrowly missed estimates, another rare miss for the retailer.Â
Shares of E.l.f. fell more than 20% in extended trading Thursday.
Here’s how E.l.f. did in its fiscal third quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:
- Earnings per share: 74 cents adjusted vs. 75 cents expected
- Revenue: $355 million vs. $330 million expected
The company’s reported net income for the three-month period that ended Dec. 31 was $17.3 million, or 30 cents per share, compared with $26.9 million, or 46 cents per share, a year earlier. Excluding one-time items, including stock-based compensation and expenses associated with…
