Ulta Beauty Inc. (NASDAQ:ULTA) reported first-quarter fiscal 2026 results on Tuesday that topped Wall Street expectations, driven by strong performance across fragrance, haircare and beauty categories, as well as continued growth in comparable sales.

Ulta Beauty Earnings Beat Expectations

Adjusted earnings came in at $7.74 per share, ahead of analysts’ estimates of $6.86.

Revenue increased 11.1% year over year to $3.16 billion, surpassing the consensus estimate of $3.09 billion. Comparable sales rose 5.3%, fueled by a 3.7% increase in average ticket size and a 1.6% increase in transactions.

Ulta Beauty ended the quarter with $221 million in cash and short-term investments. The company repurchased $555 million of its shares during the quarter and increased its fiscal 2026 share repurchase target to $1.5 billion from $1 billion.

Despite reporting strong first-quarter results, Ulta Beauty said consumers continue to face macroeconomic uncertainty, inflationary pressures and higher fuel costs, making value increasingly important.

The company said it is relying on its mass-to-luxury assortment, loyalty program ...