EarningsQ2 2026 Earnings Report
MX:ULTA Q2 2026 EPS Results
Actual EPS$118.52
Consensus EPS$112.59
Beat/MissBeat by +$5.94
One Year Ago EPS$104.59
MX:ULTA Q2 2026 Revenue Results
Actual Revenue$54.93B
Expected Revenue$54.07B
Beat/MissBeat by +$859.15M
YoY Revenue Growth+8.87%
Earnings Announcement Details
QuarterQ2 2026
Date08/27/2026
TimeAfter Close
Conference CallThursday, August 27, 2026
MX:ULTA Upcoming Earnings
Ulta Beauty's next earnings date is estimated for December 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:ULTA Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive picture: strong top‑line growth (+8.9%), double‑digit EPS expansion (+13.3%), raised full‑year guidance, robust e‑commerce/omni‑channel momentum, loyalty expansion and successful category initiatives (fragrance, K‑Beauty, wellness). Headwinds were present but largely modest — category pockets of softness (mass makeup, some skin/body), a slight gross‑margin impact from Space NK, higher SG&A tied to investments and an uptick in promotional intensity. Management signaled prudent assumptions for the back half and continued focus on productivity, margin management and capital returns.Company Guidance
Strong Top-Line, Profit and EPS Growth
Net sales increased 8.9% to $3.0B (vs $2.8B LY); comparable sales +3.8%. Operating profit rose 10.1% to $380M and operating margin was 12.5% (vs 12.4% LY). Net income increased 8.1% to $282M and diluted EPS grew 13.3% to $6.55.
Raised Full-Year Guidance and Shareholder Returns
Management raised fiscal 2026 outlook: net sales growth now expected 6.7%–7.2%, comp sales 3.2%–3.7%, operating profit growth 8.3%–9.3% and diluted EPS $28.70–$29.00 (growth 11.9%–13.1%). Increased stock buyback plan to $1.8B for the year; $236M repurchased this quarter and $791M year-to-date with ~$1.0B remaining authorization.
E-commerce & Omni‑channel Momentum
E‑commerce delivered its sixth consecutive quarter of double-digit sales growth and high‑teens comp growth; the app now accounts for >60% of online sales. Over 50% of e‑commerce orders were fulfilled through stores, leveraging the 1,500+ store network to improve fulfillment efficiency.
Loyalty, Engagement and Social Commerce Traction
Active loyalty members expanded ~3% to ~47M members with increased spend per member. TikTok Shop initiative drove over 100M impressions; launched 15 new brands in Q2 and achieved record earned media value and unaided awareness.
Category Strength — Fragrance, Hair, K‑Beauty and Wellness
Fragrance was the strongest category with high‑teen comp growth. Hair care delivered high single‑digit comp growth. K‑Beauty delivered double‑digit growth with nearly half of K‑Beauty sales coming from exclusives. Wellness grew double digits, driven by nutrition/supplements and self‑care brands.
Marketplace and UB Media Expansion
Marketplace expanded to >450 brands and >12,000 SKUs, attracting new and lapsed members. UB Media delivered double‑digit growth YoY, supported by new products (including CTV) and stronger advertiser demand, contributing incremental revenue and margin benefit.
Capital Discipline, Inventory and Investment
Capital allocation remained active: $81M CapEx in Q2 focused on stores and technology; inventory flat at $2.4B while inventory per store decreased 4.1%, reflecting improved inventory management.
Operational Efficiency and AI Adoption
Management cited supply chain productivity, shrink reductions and AI investments (enhanced site agent Ulta AI, Google Gemini and OpenAI integrations) that improved traffic, conversion and helped preserve merchandise margin despite mix and cost pressures.
MX:ULTA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed