MW E.l.f. Beauty stock drops after cosmetics maker trims outlook
By Bill Peters
'Given softer-than-expected trends in January, we are taking a prudent approach and lowering our outlook for the final quarter of our fiscal year,' CFO says
Shares of E.l.f. Beauty Inc. tumbled after hours on Thursday after the cosmetics maker trimmed its full-year outlook, citing "softer-than-expected trends in January."
The company - known for its namesake cosmetics and skincare lines as well as brands like Naturium and Well People - said it expects sales this year to be between $1.3 billion and $1.31 billion. That was down from its prior forecast for $1.315 billion to $1.335 billion.
E.l.f. Beauty $(ELF)$ also said it expects adjusted earnings per share of $3.27 to $3.32 for that period, compared with earlier expectations for $3.47 to $3.53.
"Given softer-than-expected trends in January, we are taking a prudent approach and lowering our outlook for the final quarter of our fiscal year," Chief Financial Officer Mandy Fields said in a statement.
Shares sank 18.7% after hours. The stock is down 48.4% over the past 12 months.
E.l.f. Beauty offered up the forecast as competition in the beauty industry intensifies. Earlier this week, Estee Lauder Cos. $(EL)$ said it was cutting thousands of jobs, while trying to roll out new and more creative products faster.
-Bill Peters
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February 06, 2025 16:35 ET (21:35 GMT)
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