- E.l.f. Beauty Inc (NYSE:ELF) reported second-quarter FY23 sales growth of 33% year-on-year to $122.35 million, beating the consensus of $104.63 million.
- The gross margin expanded 190 basis points to 65%, and the gross profit increased 37.2% to $79.6 million.
- Selling, general and administrative expenses rose 27.2% to $64 million.
- The operating margin was 12.5%, and operating income for the quarter rose 106.6% to $15.4 million.
- The company held $85.3 million in cash and equivalents as of September 30, 2022.
- Adjusted EBITDA grew 47% Y/Y to $27.3 million.
- Adjusted EPS of $0.36 beat the analyst consensus of $0.16.
- Outlook: e.l.f. raised FY23 adjusted EPS guidance from $0.84 – $0.87 to $1.07 – $1.10 versus an estimate of $0.91.
- The company also raised its FY23 sales outlook from $448 million – $456 million to $478 million – $486 million, against an estimate of $459.45 million.
- Price Action: ELF shares are trading higher by 9.22% at $45.50 in premarket on the last check Thursday.
Evercore ISI Group Maintains Outperform on Align Tech, Raises Price Target to $375
Evercore ISI Group analyst Elizabeth Anderson maintains Align Tech (NASDAQ:ALGN) with a Outperform and raises the price target from $230 to $375.
