ELF Beauty vs Ulta Beauty: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

ELF Beauty Inc (ELF)

Q3 202622 Jun – 6 Oct 2026

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Elf Beauty's Turnaround: Price Cuts, Acquisitions, But Core Brand Weak

Price cuts drive unit surge Cutting prices on select items drove an 85% jump in unit sales, and tariff refunds funded permanent price cuts that lifted units nearly 40%. This shows the strategy is boosting volume.
This is a key new initiative that drove sales volume and investor optimism.
Acquisitions and new lines fuel growth The new e.l.f. Hair line saw strong pilot results, while Rhode and Naturium fuel skincare growth. Rhode contributed $160 million quarterly, and international sales rose 61% with Brazil and Europe launches.
These new growth avenues are central to the turnaround story and are new developments.
Core brand weakness and profit drop The core e.l.f. brand's organic sales fell high single digits, operating margin shrank 7.5 points to 4.5%, and profit dropped 59% last quarter. This raises concerns about the company's profitability.
This is a major negative factor that offset the positive initiatives and weighed on the stock.
Stock underperformance despite cheap valuation Despite a cheap 19x valuation, the stock fell 10.9% over six months and 33% over the past year, reflecting investor concerns about core brand weakness and profitability.
This shows the market's negative reaction and the resulting price movement.

August 202615 Jul – 6 Oct 2026

▲3

Rhode and international expansion drive ELF's growth, but core brand softness and margin pressure linger

Rhode acquisition fuels 36% sales jump and raised guidance ELF raised full-year revenue guidance to $1.94–1.97 billion after fiscal Q1 sales surged 36% to $479 million, powered by Rhode's $160 million quarterly contribution. Rhode could hit $1 billion in annual sales faster than any beauty brand, giving investors a powerful new growth engine.
This is the single biggest new fundamental driver of ELF's price, showing accelerating growth and management confidence.
International sales jump 61%, Brazil and Europe launches expand reach International net sales rose 61% year over year, now 21% of total sales, with Rhode launching at Sephora Europe on September 30 and e.l.f. Cosmetics entering Brazil exclusively through Sephora. These moves open large new markets and reduce reliance on the U.S.
International expansion is a major new growth vector that directly boosts future revenue expectations and the stock price.
Tariff refunds fund permanent price cuts, driving 40% unit sales lift ELF used about $50 million in tariff refunds to permanently lower prices on roughly 10% of its catalog. A test cutting the Halo Glow Skin Tint by $4 drove unit sales up nearly 40%, showing that lower prices can boost volume and keep customers loyal without hurting the top line.
This new pricing strategy directly supports sales growth and competitive positioning, a clear positive for the stock.
Core e.l.f. brand sales decline while margins shrink and stock lags Excluding Rhode, organic sales fell in the high single digits, and operating margin shrank 7.5 percentage points to 4.5% over the past year. Despite strong headline growth, the stock fell 10.9% over six months and is down 33% over the past year, showing investors worry about the core brand and profitability.
This is the key counterweight: without Rhode, the base business is struggling, which caps upside and explains recent share weakness.

Latest15 Jul – 6 Oct 2026

▲3

Rhode and international expansion drive ELF's growth, but core brand softness and margin pressure linger

Rhode acquisition fuels 36% sales jump and raised guidance ELF raised full-year revenue guidance to $1.94–1.97 billion after fiscal Q1 sales surged 36% to $479 million, powered by Rhode's $160 million quarterly contribution. Rhode could hit $1 billion in annual sales faster than any beauty brand, giving investors a powerful new growth engine.
This is the single biggest new fundamental driver of ELF's price, showing accelerating growth and management confidence.
International sales jump 61%, Brazil and Europe launches expand reach International net sales rose 61% year over year, now 21% of total sales, with Rhode launching at Sephora Europe on September 30 and e.l.f. Cosmetics entering Brazil exclusively through Sephora. These moves open large new markets and reduce reliance on the U.S.
International expansion is a major new growth vector that directly boosts future revenue expectations and the stock price.
Tariff refunds fund permanent price cuts, driving 40% unit sales lift ELF used about $50 million in tariff refunds to permanently lower prices on roughly 10% of its catalog. A test cutting the Halo Glow Skin Tint by $4 drove unit sales up nearly 40%, showing that lower prices can boost volume and keep customers loyal without hurting the top line.
This new pricing strategy directly supports sales growth and competitive positioning, a clear positive for the stock.
Core e.l.f. brand sales decline while margins shrink and stock lags Excluding Rhode, organic sales fell in the high single digits, and operating margin shrank 7.5 percentage points to 4.5% over the past year. Despite strong headline growth, the stock fell 10.9% over six months and is down 33% over the past year, showing investors worry about the core brand and profitability.
This is the key counterweight: without Rhode, the base business is struggling, which caps upside and explains recent share weakness.

July 202622 Jun – 23 Jul 2026

▲3

e.l.f. Beauty cuts prices, adds hair care, and expands Rhode to revive growth

Price cuts spark strong consumer response e.l.f. cut prices on select items, like a skin tint from $18 to $14, driving an 85% jump in unit sales. This reverses earlier price hikes that had hurt demand. If shoppers keep responding, sales and profits could rise, lifting the stock.
Shows a direct, new action to fix weak demand and its early success.
First hair care line launches with strong pilot results e.l.f. Hair, a six-product line, expands the company into a new category. A pilot run saw 96% positive sentiment and 65% of buyers new to the brand. This opens a new market and could add sales growth, supporting a higher stock price.
New product category is a fresh growth driver not previously reported.
Rhode and Naturium drive skin care growth Rhode net sales grew over 80% to about $390 million, and Naturium roughly doubled to nearly $250 million. Skin care is now 23% of sales, up from 9% three years ago. These brands are fueling growth and could lift the stock as they expand.
Highlights the new growth engines that are offsetting core brand weakness.
Valuation low but turnaround uncertain The stock trades at 19 times earnings, far below its usual 52 times, after a 48% drop over the past year. A $58.5 million tariff refund and June's 32% rally helped, but profit fell 59% last quarter and guidance depends on a second-half rebound. Cheap valuation may attract buyers, but risks remain.
Captures the key counterweight: low price versus weak earnings and uncertain recovery.

22 Jun – 23 Jul 2026

▲3

e.l.f. Beauty cuts prices, adds hair care, and expands Rhode to revive growth

Price cuts spark strong consumer response e.l.f. cut prices on select items, like a skin tint from $18 to $14, driving an 85% jump in unit sales. This reverses earlier price hikes that had hurt demand. If shoppers keep responding, sales and profits could rise, lifting the stock.
Shows a direct, new action to fix weak demand and its early success.
First hair care line launches with strong pilot results e.l.f. Hair, a six-product line, expands the company into a new category. A pilot run saw 96% positive sentiment and 65% of buyers new to the brand. This opens a new market and could add sales growth, supporting a higher stock price.
New product category is a fresh growth driver not previously reported.
Rhode and Naturium drive skin care growth Rhode net sales grew over 80% to about $390 million, and Naturium roughly doubled to nearly $250 million. Skin care is now 23% of sales, up from 9% three years ago. These brands are fueling growth and could lift the stock as they expand.
Highlights the new growth engines that are offsetting core brand weakness.
Valuation low but turnaround uncertain The stock trades at 19 times earnings, far below its usual 52 times, after a 48% drop over the past year. A $58.5 million tariff refund and June's 32% rally helped, but profit fell 59% last quarter and guidance depends on a second-half rebound. Cheap valuation may attract buyers, but risks remain.
Captures the key counterweight: low price versus weak earnings and uncertain recovery.

Ulta Beauty Inc (ULTA)

Q3 202614 Aug – 24 Sep 2026

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Ulta raises outlook, boosts buybacks, adds AI shopping and Bath & Body Works

Q2 beat and raised full-year guidance Ulta beat second-quarter sales and profit estimates and raised its full-year outlook for sales, comparable sales and earnings per share. Stronger results and a higher forecast tell investors the business is growing faster than expected, which supports a higher stock price.
This is the core new fundamental event that directly lifts earnings expectations and the stock.
Bigger buybacks and prestige brands return after Target exit Ulta increased planned annual share repurchases to $1.8 billion and said prestige brands from the ended Target partnership have returned to its stores. Fewer shares outstanding can lift earnings per share, and recapturing those brands gives Ulta a chance to win back sales it had lost.
New capital return and brand recovery details directly affect future earnings and investor confidence.
Bath & Body Works products coming to 600+ Ulta stores Bath & Body Works announced a partnership to sell its products in more than 600 Ulta stores and online. New exclusive brands can draw more shoppers into Ulta stores and increase sales per visit, though the partner's own weak store traffic is a reminder that retail demand is uneven.
A new distribution deal expands Ulta's product assortment and is a fresh demand driver.
AI shopping integrations with Meta Muse and Gemini/ChatGPT Ulta is integrating with Meta's new Muse AI shopping agent, and earlier data showed AI-referred shoppers convert at about double the usual rate. These tools can send higher-intent buyers to Ulta, and its 47-million-member loyalty program helps keep the customer relationship and repeat sales.
New AI shopping channels are an emerging demand source that could lower customer acquisition costs.

September 202614 Aug – 24 Sep 2026

▲4

Ulta raises outlook, boosts buybacks, adds AI shopping and Bath & Body Works

Q2 beat and raised full-year guidance Ulta beat second-quarter sales and profit estimates and raised its full-year outlook for sales, comparable sales and earnings per share. Stronger results and a higher forecast tell investors the business is growing faster than expected, which supports a higher stock price.
This is the core new fundamental event that directly lifts earnings expectations and the stock.
Bigger buybacks and prestige brands return after Target exit Ulta increased planned annual share repurchases to $1.8 billion and said prestige brands from the ended Target partnership have returned to its stores. Fewer shares outstanding can lift earnings per share, and recapturing those brands gives Ulta a chance to win back sales it had lost.
New capital return and brand recovery details directly affect future earnings and investor confidence.
Bath & Body Works products coming to 600+ Ulta stores Bath & Body Works announced a partnership to sell its products in more than 600 Ulta stores and online. New exclusive brands can draw more shoppers into Ulta stores and increase sales per visit, though the partner's own weak store traffic is a reminder that retail demand is uneven.
A new distribution deal expands Ulta's product assortment and is a fresh demand driver.
AI shopping integrations with Meta Muse and Gemini/ChatGPT Ulta is integrating with Meta's new Muse AI shopping agent, and earlier data showed AI-referred shoppers convert at about double the usual rate. These tools can send higher-intent buyers to Ulta, and its 47-million-member loyalty program helps keep the customer relationship and repeat sales.
New AI shopping channels are an emerging demand source that could lower customer acquisition costs.

Latest14 Aug – 24 Sep 2026

▲4

Ulta raises outlook, boosts buybacks, adds AI shopping and Bath & Body Works

Q2 beat and raised full-year guidance Ulta beat second-quarter sales and profit estimates and raised its full-year outlook for sales, comparable sales and earnings per share. Stronger results and a higher forecast tell investors the business is growing faster than expected, which supports a higher stock price.
This is the core new fundamental event that directly lifts earnings expectations and the stock.
Bigger buybacks and prestige brands return after Target exit Ulta increased planned annual share repurchases to $1.8 billion and said prestige brands from the ended Target partnership have returned to its stores. Fewer shares outstanding can lift earnings per share, and recapturing those brands gives Ulta a chance to win back sales it had lost.
New capital return and brand recovery details directly affect future earnings and investor confidence.
Bath & Body Works products coming to 600+ Ulta stores Bath & Body Works announced a partnership to sell its products in more than 600 Ulta stores and online. New exclusive brands can draw more shoppers into Ulta stores and increase sales per visit, though the partner's own weak store traffic is a reminder that retail demand is uneven.
A new distribution deal expands Ulta's product assortment and is a fresh demand driver.
AI shopping integrations with Meta Muse and Gemini/ChatGPT Ulta is integrating with Meta's new Muse AI shopping agent, and earlier data showed AI-referred shoppers convert at about double the usual rate. These tools can send higher-intent buyers to Ulta, and its 47-million-member loyalty program helps keep the customer relationship and repeat sales.
New AI shopping channels are an emerging demand source that could lower customer acquisition costs.

Q2 202618 Jun – 2 Jul 2026

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Ulta beats Q1, raises outlook, adds Bath & Body Works

Q1 earnings beat and raised full-year guidance Ulta reported first-quarter revenue of $3.16 billion, up 11.1%, with earnings per share of $7.74 beating estimates. Comparable sales rose 5.3%, and the company raised its full-year earnings guidance. This shows the business is growing faster than expected, which supports a higher stock price.
This is the core fundamental driver of the period, showing stronger-than-expected profit and growth.
Bath & Body Works partnership adds new products Bath & Body Works will sell body care and home fragrance products in over 600 Ulta stores and online starting July 12, 2026. This fills a gap in Ulta's offerings and could attract new customers, boosting sales and making the stock more attractive.
This is a new growth initiative that expands Ulta's product assortment and customer base.
Removed from Russell index, causing temporary selling Ulta was removed from a Russell index, which forced some funds tracking that index to sell the stock, and shares dropped 6% in one day. This is a technical, short-term event that doesn't reflect the company's underlying health, but it did push the price down temporarily.
This is a new negative event that impacted the stock price during the period, though it is not fundamental.

June 202618 Jun – 2 Jul 2026

▲2▼1

Ulta beats Q1, raises outlook, adds Bath & Body Works

Q1 earnings beat and raised full-year guidance Ulta reported first-quarter revenue of $3.16 billion, up 11.1%, with earnings per share of $7.74 beating estimates. Comparable sales rose 5.3%, and the company raised its full-year earnings guidance. This shows the business is growing faster than expected, which supports a higher stock price.
This is the core fundamental driver of the period, showing stronger-than-expected profit and growth.
Bath & Body Works partnership adds new products Bath & Body Works will sell body care and home fragrance products in over 600 Ulta stores and online starting July 12, 2026. This fills a gap in Ulta's offerings and could attract new customers, boosting sales and making the stock more attractive.
This is a new growth initiative that expands Ulta's product assortment and customer base.
Removed from Russell index, causing temporary selling Ulta was removed from a Russell index, which forced some funds tracking that index to sell the stock, and shares dropped 6% in one day. This is a technical, short-term event that doesn't reflect the company's underlying health, but it did push the price down temporarily.
This is a new negative event that impacted the stock price during the period, though it is not fundamental.

18 Jun – 2 Jul 2026

▲2▼1

Ulta beats Q1, raises outlook, adds Bath & Body Works

Q1 earnings beat and raised full-year guidance Ulta reported first-quarter revenue of $3.16 billion, up 11.1%, with earnings per share of $7.74 beating estimates. Comparable sales rose 5.3%, and the company raised its full-year earnings guidance. This shows the business is growing faster than expected, which supports a higher stock price.
This is the core fundamental driver of the period, showing stronger-than-expected profit and growth.
Bath & Body Works partnership adds new products Bath & Body Works will sell body care and home fragrance products in over 600 Ulta stores and online starting July 12, 2026. This fills a gap in Ulta's offerings and could attract new customers, boosting sales and making the stock more attractive.
This is a new growth initiative that expands Ulta's product assortment and customer base.
Removed from Russell index, causing temporary selling Ulta was removed from a Russell index, which forced some funds tracking that index to sell the stock, and shares dropped 6% in one day. This is a technical, short-term event that doesn't reflect the company's underlying health, but it did push the price down temporarily.
This is a new negative event that impacted the stock price during the period, though it is not fundamental.