E.L.F. sales jump 27% in Q2, raises full-year guidance

By

Jennifer Braun

Published
Nov 4, 2021

Oakland, California-based cosmetics company E.L.F. Beauty announced second-quarter net sales on Wednesday of $91.9 million, up 27 percent and marking the company’s eleventh consecutive quarter of net sales growth. 

The company’s double-digit growth in the quarter ended September 30, 2021, was primarily driven by strength in its national and international retailers. E.L.F.’s net income for the quarter was $5.7 million or $0.11 per diluted share. Adjusted diluted earnings per share were $0.21.

For the first six months, E.L.F. reported net sales of $188.9 million, up 38 percent. Net income was $14 million, while diluted earnings per share were $0.26. 

“I am proud of the E.L.F. Beauty team for delivering our eleventh consecutive quarter of net sales growth,” said Tarang Amin, E.L.F. Beauty's chairman and chief executive officer. 

“In the second quarter, E.L.F. grew sales 27% versus year ago and was again the only top 5 color cosmetics brand to grow market share above pre-pandemic levels, per Nielsen. Our performance demonstrates that our five strategic imperatives are driving results and we remain confident in the long-term growth potential for our portfolio of brands.”

Looking ahead, the company, which along with its namesake E.L.F. brand, owns W3LL PEOPLE and Alicia Keys’ Keys Soulcare brand, raised its fiscal 2022 net sales guidance and now expects to achieve full-year revenues of between $364 million and $370 million in fiscal 2022, up from its previously reported outlook of between $357 million and $364 million.