e.l.f. Beauty beats by $0.11, beats on revs; raises FY17 EPS above consensus, lowers revs below consensus
- Reports Q3 (Sep) earnings of $0.17 per share, excluding non-recurring items, $0.11 better thanthe Capital IQ Consensus of $0.06; revenues rose 27.7% year/year to $71.9 mln vs the $68.38 mln Capital IQ Consensus, driven by sales growth across leading national retailers and the Company's direct business. Gross margin expanded to 60% from 58% in the third quarter of 2016, primarily as a result of margin accretive innovation, coupled with improvements in customer terms, freight costs and foreign exchange rate movements, partially offset by customer mix.
- Co issues mixed guidance for FY17, sees EPS of $0.55, excluding non-recurring items, from $0.40-0.43 vs. $0.45 Capital IQ Consensus Estimate; sees FY17 revs of ~$270 mln from $285-295 mln vs. $287.07 mln Capital IQ Consensus Estimate, reflecting timing of pipeline shipments and new distribution, as well as category trends.
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