Shares of cosmetics and beauty products providers e.l.f. Beauty (NYSE:ELF) are rising at the time of publishing today after the company announced better-than-anticipated fourth-quarter numbers.
Revenue surged 78.3% year-over-year to $187.4 million, outperforming estimates by $31.3 million. Additionally, EPS at $0.42 too cruised past expectations by about $0.22.
During the quarter, the company captured 270 basis points market share and continues to see strength in retailer and eCommerce channels. Moreover, pricing actions, cost savings, and a favorable product mix helped the company expand gross margins by 470 basis points during this period.
Looking ahead, for fiscal 2024, ELF expects net sales to range between $705 million and $720 million. EPS for the year is seen landing between $1.73 and $1.76.
Overall, the Street has a $98.80 consensus price target on ELF alongside a Strong Buy consensus rating. Shares of the company have already surged nearly 311% over the past year.
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