BeautyBusiness

Ulta Beauty Q1 2026 Results: 11% Sales Growth, Raised EPS Outlook

The company achieved a strong gross margin of 40.1% and an operating income of $448M, driven by strategic investments and market expansion.

Published: Jun 5, 2026 2:35 PM Updated: Jun 8, 2026 1:58 AM

By Jeanel Alvarado

BeautyBusiness

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BeautyBusiness

Ulta Beauty Q1 2026 Results: 11% Sales Growth, Raised EPS Outlook

Ulta Beauty Q1 2026 results, reported on June 2, 2026 for the 13 weeks ended May 2, showed net sales of $3.16 billion, up 11.1% from $2.85 billion in the prior-year period. Comparable sales grew 5.3%, driven by a 3.7% increase in average ticket and a 1.6% rise in transactions. Diluted EPS rose 15.5% to $7.74 from $6.70 a year ago, beating the analyst estimate of approximately $6.87. Shares jumped more than 5% in after-hours trading.

The Ulta Beauty Q1 2026 results beat on both revenue and earnings. Net income reached $340 million against $305 million a year earlier. Operating income rose 11.6% to $448 million, representing 14.2% of net sales.

Gross margin expanded 100 basis points to 40.1%, with lower shrink and higher merchandise margin cited as the primary drivers.

CEO Kecia Steelman described the quarter as “a strong start driven by broad-based growth across all channels and major categories.” She added that the company gained share in prestige beauty and held roughly flat in mass beauty. Ulta Beauty Q1 2026 Results: Category Performance Fragrance was the clearest standout.

The category delivered high-teen comparable sales growth and grew from 11% to 12% of total revenue. Growth came from new luxury launches including YSL, Carolina Herrera, and Valentino, an early contribution from Balmain, and the Mylk de Parfum format from exclusive brand NOYZ…

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