Ulta Beauty stock falls after mixed earnings and 2026 outlook

Ulta Beauty reported mixed results for its fiscal fourth quarter on March 12, 2026, with revenue beating Wall Street expectations but earnings per share coming in below forecasts. The beauty retailer’s shares declined in after‑hours trading following the announcement.

The company posted stronger‑than‑expected sales during the holiday quarter, reflecting solid demand across beauty categories. However, profitability disappointed analysts as higher operating costs and other expenses weighed on earnings, leading to an earnings‑per‑share miss.

Alongside the results, Ulta Beauty issued guidance for fiscal 2026. The company said it expects full‑year revenue to range between $11.5 billion and $11.6 billion. It also projected fiscal 2026 earnings per share between $22.50 and $22.90, below the average analyst estimate.

Management highlighted ongoing competition in the beauty retail market and lingering consumer uncertainty as key factors shaping its outlook. The cautious guidance overshadowed the revenue beat and contributed to the decline in the company’s stock after the earnings release.