Jul 2026 (Q2 FY27) — Aug 27, 2026
Ulta Beauty Q2 FY27 — Strong Sales and Profit Growth, Raised Full-Year Outlook
Read the full callUlta Beauty (ULTA) earnings
- Aug 2026
- Jul 2026 (Q2 FY27)
- Jan 2026
Ulta Beauty earnings: last reported Thu, 27 Aug 2026, for the quarter ended Jul 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 3,036 | +8.9% YoY | Quarterly, as filed | Quarter to Aug 2026 | Revenue from operations as filed. |
| Operating margin | 12.5 | +0.1 pts YoY | Operating profit / revenue | Quarter to Aug 2026 | For the quarter; a change is in percentage points. |
| Net profit | 282 | +8.1% YoY | Quarterly, as filed | Quarter to Aug 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
22 of 23 judged targets kept · 18 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| FY27 diluted EPS | $28.05 to $28.55 per share | Jan 2026 | We now expect diluted EPS will be between $28.36 and $28.80 per share. | Revised Up |
| FY26 capital expenditures | $425 million to $500 million | Jan 2025 | reinvestment of $435 million in capital expenditures and $890 million in share repurchases. | Achieved |
| FY26 SG&A growth | approximately 10% increase | Jan 2025 | SG&A expense increased 17.4% to $3.3 billion. | Missed |
1 of Ulta Beauty, Inc.'s 41 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 38 more targets are in the full ledger.
Claimed
- Net sales grew 8.9% to $3 billion.
- Operating profit grew 10.1% to $380 million, with operating margin expanding to 12.5%.
- Diluted EPS increased 13.3% to $6.55 per share.
- Comparable sales increased 3.8%, driven by average ticket.
- Loyalty program active members expanded by 3% to 47 million.
Qualified
- Mass makeup declined in the low single-digit range due to lack of newness from major brands.
- Total skin care and wellness category declined modestly, primarily due to lower sales in body care.
- Gross margin decreased modestly to 39.1% of sales, primarily due to Space NK business mix.
Price
$591.62 −0.22% · −$1.32
Performance +10.9% 1Y
1Y: $533.51 on 17 Oct 2025 → $591.62. High $706.82 (17 Feb 2026), low $450.75 (17 Jun 2026).
- Previous close
- $592.94
- 52-week range
- $450.75 – $706.82
- One year
- +12.96%
Overview
- Symbol
- ULTA
- Sector
- Consumer Discretionary
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
22 of 23 judged targets kept · 18 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| FY27 diluted EPS | $28.05 to $28.55 per share | Jan 2026 | We now expect diluted EPS will be between $28.36 and $28.80 per share. | Revised Up |
| FY26 capital expenditures | $425 million to $500 million | Jan 2025 | reinvestment of $435 million in capital expenditures and $890 million in share repurchases. | Achieved |
| FY26 SG&A growth | approximately 10% increase | Jan 2025 | SG&A expense increased 17.4% to $3.3 billion. | Missed |
Claimed
- Net sales grew 8.9% to $3 billion.
- Operating profit grew 10.1% to $380 million, with operating margin expanding to 12.5%.
- Diluted EPS increased 13.3% to $6.55 per share.
- Comparable sales increased 3.8%, driven by average ticket.
- Loyalty program active members expanded by 3% to 47 million.
Qualified
- Mass makeup declined in the low single-digit range due to lack of newness from major brands.
- Total skin care and wellness category declined modestly, primarily due to lower sales in body care.
- Gross margin decreased modestly to 39.1% of sales, primarily due to Space NK business mix.
The full ledger
Open Ulta Beauty, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 41 tracked commitments, with each call’s wording and source.
Call summaries
Apr 2026 (Q1 FY27) — Jun 2, 2026
Ulta Beauty Q1 FY27 — Strong Sales & EPS Growth Driven by Core Business and Strategic Initiatives
Read the full callJan 2026 (Q4 FY26) — Mar 12, 2026
Ulta Beauty Q4 FY26 — Strong Performance and Strategic Investments Drive Growth
Read the full callEvery analysed call
Ulta Beauty earnings calls (ULTA)
Financials
What the filings say
Net profit, year on year: +8% (quarter to aug 2026 against aug 2025).
| Line item | Nov 2024 | Feb 2025 | May 2025 | Aug 2025 | Nov 2025 | Jan 2026 | May 2026 | Aug 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,530 | 3,488 | 2,848 | 2,788 | 2,858 | 3,898 | 3,164 | 3,036 |
| Operating profit | 319 | 516 | 402 | 345 | 309 | 477 | 448 | 380 |
| Operating margin | 12.6% | 14.8% | 14.1% | 12.4% | 10.8% | 12.2% | 14.2% | 12.5% |
| Profit before tax | 320 | 518 | 405 | 346 | 305 | 474 | 449 | 376 |
| Tax rate | 24.4% | 24.1% | 24.6% | 24.5% | 24.1% | 24.4% | 23.8% | 24.4% |
| Net profit | 242 | 393 | 305 | 261 | 231 | 357 | 340 | 282 |
| EPS ($ per share) | 5.16 | — | 6.72 | 5.80 | 5.16 | — | 7.78 | 6.57 |
| Line item | Feb 2019 | Feb 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
| Reserves | 1,106 | 1,128 | 1,189 | 653 | 996 | 1,287 | 1,474 | 1,737 |
| Total liabilities | 1,371 | 2,962 | 3,090 | 3,229 | 3,411 | 3,428 | 3,513 | 4,196 |
| Fixed assets | 1,226 | 1,206 | 996 | 914 | 1,009 | 1,182 | 1,239 | 1,434 |
| Investments | 0 | 110 | 0 | — | — | — | — | 70 |
| Total assets | 3,191 | 4,864 | 5,090 | 4,764 | 5,370 | 5,707 | 6,002 | 6,999 |
| Line item | Feb 2019 | Feb 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 956 | 1,101 | 810 | 1,059 | 1,482 | 1,476 | 1,339 | 1,503 |
| Cash from investing | -215 | -471 | -49 | -176 | -315 | -441 | -383 | -931 |
| Cash from financing | -609 | -647 | -108 | -1,497 | -861 | -1,006 | -1,019 | -851 |
| Net cash flow | 132 | -17 | 654 | -614 | 306 | 29 | -63 | -279 |
| Capital expenditure | -319 | -299 | -152 | -172 | -312 | -435 | -374 | -435 |
| Free cash flow | 637 | 803 | 658 | 887 | 1,170 | 1,041 | 964 | 1,068 |
ULTA revenue by segment
| Segment | Q1 FY2026 | Q1 FY2027 | YoY growth latest quarter |
|---|---|---|---|
| Reportable Segment Aggregation Before Other Operating | 100% | 100% | +11.1% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
ULTA operating KPIs by quarter
| KPI | Jan 2026 Q4 FY26 | Apr 2026 Q1 FY27 | Jul 2026 Q2 FY27 | Change vs prior quarter |
|---|---|---|---|---|
| Loyalty program members | 46.7MWe grew our loyalty program by 5% to a record 46.7 million active members, driven by strong growth in reactivated members and strong retention of existing members.Source: earnings call transcript | <47MDuring the quarter, we expanded our Ulta Beauty Rewards loyalty program to nearly 47 million members, up 4% year-over-year.Source: earnings call transcript | ~47MOur robust loyalty program, which now encompasses about 47 million active members, remains central to inspiring members through personalized experiences meaningful rewards and exclusive benefits that deepen engagement and build lasting relationships with Ulta Beauty.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
27 filings between Dec 9, 2025 and Sep 17, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$1.84M
4 sales by 3 insiders
Compensation
not trading decisions- 18
- Award — granted as compensation
- 4
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Steelman Kecia | — | $1.09M | Sep 17, 2026 |
| MRKONIC GEORGE R JR | — | $426.0K | Jun 15, 2026 |
| Nagler Lorna | — | $322.4K | Sep 11, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 17, 2026 | Steelman Kecia President and CEO | Sale | 2,000 | $1.09M |
| Sep 11, 2026 | Nagler Lorna Director | Sale | 600 | $322.4K |
| Sep 1, 2026 | GARCIA KELLY E Chief Technology Officer | Award | 2,933 | $0 |
| Sep 1, 2026 | Olson Brieane Lee Director | Award | 271 | $0 |
| Jun 15, 2026 | MRKONIC GEORGE R JR Director | Sale | 383 | $182.2K |
| Jun 10, 2026 | GARCIA KELLY E Director | Award | 404 | $0 |
| Jun 10, 2026 | Halligan Catherine Ann Director | Award | 404 | $0 |
| Jun 10, 2026 | Landry Stephenie Lee Director | Award | 404 | $0 |
| Jun 10, 2026 | MRKONIC GEORGE R JR Director | Award | 404 | $0 |
| Jun 10, 2026 | Nagler Lorna Director | Award | 404 | $0 |
| Jun 10, 2026 | Smith Mike C. Director | Award | 404 | $0 |
| Jun 10, 2026 | Brok Martin Director | Award | 404 | $0 |
| Apr 7, 2026 | MRKONIC GEORGE R JR Director | Sale | 452 | $243.8K |
| Mar 31, 2026 | Lialios Christopher SVP, Controller (P. Acct Ofc.) | Award | 519 | $0 |
| Mar 31, 2026 | Steelman Kecia President and CEO | Award | 10,889 | $0 |
| Mar 31, 2026 | Casares Rene G. Chief Legal Officer | Award | 1,263 | $0 |
| Mar 31, 2026 | DelOrefice Christopher Chief Financial Officer | Award | 4,219 | $0 |
| Mar 31, 2026 | Ryan Anita Jane Chief Human Resources Officer | Award | 1,443 | $0 |
| Mar 15, 2026 | Ryan Anita Jane Chief Human Resources Officer | Tax withheld | 189 | $101.3K |
| Mar 15, 2026 | Ryan Anita Jane Chief Human Resources Officer | Tax withheld | 80 | $42.9K |
| Mar 15, 2026 | Steelman Kecia President and CEO | Tax withheld | 1,491 | $798.8K |
| Mar 15, 2026 | Steelman Kecia President and CEO | Tax withheld | 393 | $210.5K |
| Feb 12, 2026 | Ryan Anita Jane Chief Human Resources Officer | Award | 644 | $0 |
| Feb 12, 2026 | Steelman Kecia President and CEO | Award | 3,416 | $0 |
| Dec 15, 2025 | Halligan Catherine Ann Director | Gift | 340 | $0 |
| Dec 9, 2025 | DelOrefice Christopher Chief Financial Officer | Award | 3,649 | $0 |
| Dec 9, 2025 | DelOrefice Christopher Chief Financial Officer | Award | 1,825 | $0 |
| Sep 4, 2025 | Smith Mike C. Director | Sale | 500 | $264.2K |
| Sep 1, 2025 | Brok Martin Director | Award | 277 | $0 |
| Sep 1, 2025 | Landry Stephenie Lee Director | Award | 277 | $0 |
| Jun 11, 2025 | LITTLE PATRICIA A Director | Award | 383 | $0 |
| Jun 11, 2025 | GARCIA KELLY E Director | Award | 383 | $0 |
| Jun 11, 2025 | Halligan Catherine Ann Director | Award | 383 | $0 |
| Jun 11, 2025 | MRKONIC GEORGE R JR Director | Award | 383 | $0 |
| Jun 11, 2025 | Nagler Lorna Director | Award | 383 | $0 |
| Jun 11, 2025 | Petz Heidi G Director | Award | 383 | $0 |
| Jun 11, 2025 | Smith Mike C. Director | Award | 383 | $0 |
| Apr 1, 2025 | Caro Jodi J GC, Chief Risk & Compl. Ofc. | Option exercise | 902 | $157.4K |
| Apr 1, 2025 | Caro Jodi J GC, Chief Risk & Compl. Ofc. | Sale | 902 | $333.0K |
| Mar 31, 2025 | Steelman Kecia President and CEO | Award | 13,076 | $0 |
| Mar 31, 2025 | Ryan Anita Jane Chief Human Resources Officer | Award | 1,365 | $0 |
| Mar 31, 2025 | Ryan Anita Jane Chief Human Resources Officer | Award | 1,978 | $0 |
| Mar 31, 2025 | Oyibo Paula M Chief Financial Officer | Award | 2,160 | $0 |
| Mar 20, 2025 | Steelman Kecia President and CEO | Purchase | 1,440 | $499.5K |
| Mar 15, 2025 | Oyibo Paula M Chief Financial Officer | Tax withheld | 181 | $64.7K |
| Mar 15, 2025 | Oyibo Paula M Chief Financial Officer | Tax withheld | 68 | $24.3K |
| Mar 15, 2025 | Steelman Kecia President and CEO | Award | 8,842 | $0 |
| Mar 15, 2025 | Steelman Kecia President and CEO | Tax withheld | 3,864 | $1.38M |
| Mar 15, 2025 | Steelman Kecia President and CEO | Tax withheld | 1,546 | $552.7K |
| Mar 15, 2025 | Caro Jodi J GC, Chief Risk & Compl. Ofc. | Award | 2,354 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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