Ulta Beauty, Inc. (ULTA) Earnings Call Transcripts

Ulta Beauty, Inc.'s Latest Earnings Call - June 4, 2026

In the Q1 2026 earnings call for Ulta Beauty, Inc., management reported a revenue of $2.1 billion, reflecting a 7% year-over-year increase, and earnings per share (EPS) of $2.15, beating estimates by $0.12. The company raised its guidance for operating profit growth from 6% to a range of 6.5% to 9%, signaling strong operational execution and confidence in continued growth. The management emphasized a commitment to double-digit EPS growth, leveraging recent investments in technology and marketing to enhance customer engagement and operational efficiency.

Reported metrics

Guidance from management

Ulta maintained its long-term goal of double-digit EPS growth and increased its operating profit growth guidance to 6.5%-9%, reflecting confidence in continued operational execution and market conditions.

What management said

The only thing I would just add is that we said last year, we were going to grow top line revenue and take share, and we did that. This year, we said we're going to do that with better financial discipline of which we showed that we could do it in the first quarter, and you should expect that from us the rest of this year.

But again, to be clear, I don't want [indiscernible] it's not at the expense of margin. You have to do both, right? It's going to be disciplined on margin. Think of our guide this year, we're going to maximize operating profit dollar growth while being disciplined in margin, there will always be a floor in the guide, an opportunity for leverage. And then it's just a question of what's the best way to maximize operati...

What analysts pressed on

Analysts expressed concerns regarding the potential impact of increasing online sales on physical retail margins and the overall competitive landscape. There were questions about how Ulta plans to balance growth across channels without sacrificing profitability.

Main topics on the call

• Revenue Growth and Guidance — Ulta reported Q1 2026 revenue of $2.1 billion, a 7% increase year-over-year, and raised its operating profit growth guidance to 6.5%-9%. Management stated, "We wanted to hold top line... our top line growth is 6% to 7%."
• Operational Efficiency and Margin Management — Management highlighted a focus on maintaining strong operating margins, stating, "We want to maximize profit growth... we're going to be disciplined on margin." They exited 2025 with a 12.4% operating margin and aim to s...
• Investment in Technology and Marketing — The company has made significant investments in its ERP and digital platforms, which are expected to drive future growth. Kecia Steelman noted, "We've invested a lot in the systems in place in 2025," indicating a focus o...
• E-commerce Growth and Omnichannel Strategy — Ulta's e-commerce channel continues to grow, with an emphasis on buy online, pick up in store. Management stated, "80% of our sales are still flowing through the stores," highlighting the strength of their omnichannel ap...

Read the full Ulta Beauty, Inc. transcript (June 4, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 60 Ulta Beauty, Inc. earnings call transcripts on record, spanning March 12, 2020 to June 4, 2026. Based on this history, Ulta Beauty, Inc. reports quarterly. The most recent call on file is dated June 4, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

ULTA

Exchange

NasdaqGS

Country

US

Sector

Consumer Discretionary

Industry

Specialty Retail

Calls on record

60

First call

March 12, 2020

Most recent

June 4, 2026

Reporting cadence

quarterly