Ulta Beauty (ULTA) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Wed, June 3, 2026 astatine 8:16 AM CDT 47 min read

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Date

Tuesday, June 2, 2026 astatine 4:30 p.m. ET

Call participants

• Chief Executive Officer — Kecia Steelman

• Chief Financial Officer — Christopher DelOrefice

• Vice President, Investor Relations — Kiley Rawlins

Full Conference Call Transcript

Kecia Steelman: Thank you, Kiley, and bully afternoon, everyone. After gathering our ambitious goals successful fiscal 2025, we entered fiscal 2026 with a keen absorption connected continuing our advancement portion optimizing our exemplary with fiscal subject to present profitable growth. Before I dive into the details of our archetypal 4th show and priorities for the twelvemonth ahead, I privation to stock my perspectives connected the business. First, our halfway U.S. concern is fundamentally beardown and delivering steadfast income growth. Second, the strategical initiatives we are driving to standard caller businesses are gaining traction, are contributing to our results and presumption america good for semipermanent maturation and worth creation.

Third, we are exercising fiscal subject and moving thoughtfully to optimize our costs and investments to presumption our concern to present accordant double-digit net growth. Next, maturation successful the quality class remains healthy, adjacent arsenic consumers are progressively worth focused. And Ulta Beauty's divers assortment, omnichannel convenience and compelling loyalty rewards programme uniquely positions america to conscionable our guests' evolving needs. And finally, we are staying focused connected capitalizing connected the strengths of our exemplary and executing our Ulta Beauty Unleashed strategy to present semipermanent profitable maturation and value.

And portion we are continuing to show however the macro scenery could evolve, we stay execution-focused and are assured we volition present our fiscal 2026 expectations, which Chris volition screen further aboriginal successful the call. Turning present to our archetypal 4th show and the advancement being made connected our Ulta Beauty Unleashed pillars. The spot of our concern continued arsenic we delivered archetypal 4th nett income maturation of 11.1%, comparable income maturation of 5.3% and 15.5% diluted EPS growth. Performance was broad-based with each channels and large categories contributing positively to our beardown results. From a marketplace stock perspective, we gained stock successful prestige beauty, and we were astir level successful wide beauty.

Beginning with our driving the halfway concern maturation pillar. Overall institution show continues to beryllium fueled by the spot of our halfway U.S. business, reflecting a relentless absorption connected delighting guests with each enactment and gathering connected our caller go-to-market approach, selling enactment and compelling merchandising innovation. Our stores delivered different coagulated income performance, supported by the palmy execution of cardinal promotional and selling events, including 21+ Days of Beauty and outpouring haul. As we statesman the caller fiscal year, our store squad is focused connected driving engagement, acquisition and excitement.