e.l.f. Beauty beats by $0.04, beats on revs; reaffirms FY17 guidance:
- Reports Q1 (Mar) earnings of $0.09 per share, $0.04 better than the Capital IQ Consensus of $0.05; revenues rose 15.0% year/year to $60.6 mln vs the $59.87 mln Capital IQ Consensus, driven by sales growth across leading national retailers and the Company's direct business. Gross margin expanded to 63% from 56% in the first quarter of 2016, primarily as a result of margin accretive innovation, coupled with improvements in freight costs and the benefit of foreign exchange rate movements.
- Co reaffirms guidance for FY17, sees EPS of $0.40-0.43, excluding non-recurring items, vs. $0.42 Capital IQ Consensus Estimate; sees FY17 revs of $285-295 mln vs. $291.34 mln Capital IQ Consensus Estimate.
- "We are pleased to report a strong start to the year as e.l.f. grew net sales by 15%, expanded gross margin nearly 750 basis points, and made progress toward our mission to make luxurious beauty accessible for all," stated Tarang Amin, Chairman and Chief Executive Officer. "This performance is notable given the significant amount of shipments to customers for shelf resets in Q1 2016."
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