Ulta Beauty, Inc. · NASDAQ:ULTA
Ulta Beauty — Q1 2026 Earnings Presentation
17 slides from Ulta Beauty's earnings presentation, Jun 2, 2026
Slide 1: First Quarter of Fiscal 2026 Earnings
First Quarter of Fiscal 2026 Earnings June 2, 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement The presentation contains forward -looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect our current views with respect to, a
Slide 3: Overview
Overview Kecia Steelman President & CEO ULTA Beauty | Proprietary & Confidential
Slide 4: Drive Core Business Growth, Scale New Accretive Businesses, Align Foundation
Drive Scale Align Core Business Growth New, Accretive Businesses Foundation for Success Designed to Deliver Long -Term, Profitable Growth and Shareholder Value 4
Slide 5: Performance Highlights
Performance Highlights Strong results driven by all channels and categories First Quarter 2026 Net Sales Comparable Sales 1 +11.1% +5.3% vs. 1Q25 to $3.2B vs. 1Q25 +2.9% Operating Income Diluted EPS +11.6% +15.5% vs. 1Q25 to $448.3M vs. 1Q25 to $7.74 1) Reflects sales for stores beginning on the fir
Slide 6: Drive Core Business Growth
Drive Core Business Growth Performance reflects guest experience improvements and go -to-market approach • Stores performance supported by execution of key promotional and marketing events as well as 40,000+ in -store events • E-commerce sales momentum powered by strategic investments and ongoing en
Slide 7: Scale New Accretive Businesses
Scale New Accretive Businesses New Businesses Gaining Traction and Contributing to Results • Expanding international presence with new store openings across markets, including the grand opening of Madero store in Mexico City and a Dubai Mall location in the UAE • Building Marketplace assortment, wit
Slide 8: Align our Foundation for the Future
Align our Foundation for the Future Advancing against key priorities • Expanding distribution network and leveraging automation to improve speed, efficiency and simplify product flow • Leveraging AI to maximize opportunity across organization • Strengthening our culture with a unified focus on execu
Slide 9: Our Ulta Beauty Unleashed plan is delivering results
Our Ulta Beauty Unleashed plan is delivering results, and we remain confident in the resilience of our category and the strength of our model – which we believe will create compelling value for shareholders… - Kecia Steelman, President and CEO 22
Slide 10: First Quarter of Fiscal 2026 Financial Review
First Quarter of Fiscal 2026 Financial Review Chris DelOrefice CFO
Slide 11: Q1 2026 Performance Highlights
Q1 2026 Performance Highlights Sales Performance and Company -Operated Store Openings Net Sales +11.1% Comparable Sales 1 16 net new Ulta Beauty stores vs. 1Q25 to $3.2B +5.3% 1 net new Space NK store Ended E-commerce mid -teen Stores low -single - 1,521 1Q26 with Ulta Beauty stores and comp growth
Slide 12: Q1 2026 Category Performance
Q1 2026 Category Performance Broad -based growth across all categories FRAGRANCE HAIRCARE MAKEUP SKINCARE & SERVICES high -teen high -single -digit low -single -digit WELLNESS mid -single -digit comp growth comp growth comp growth low -single -digit comp growth comp growth Driven by: Driven by: Driv
Slide 13: Q1 2026 Performance Highlights: Earnings and Profitability
Q1 2026 Performance Highlights Earnings and Profitability Gross SG&A Operating Margin 1 Expense Diluted EPS Profit +100 bps +14.6% +11.6% +15.5% vs. 1Q25 to 40.1% vs. 1Q25 to $814.7M vs. 1Q25 to $448.3M vs. 1Q25 to $7.74 • Gross margin leverage primarily due to lower inventory shrink and higher merc
Slide 14: Q1 2026 Balance Sheet and Capital Allocation
Q1 2026 Balance Sheet and Capital Allocation Maintaining Disciplined Capital Allocation Strategy Capital Deployed 1Q26 ($M) $262M $2.4B in operating in inventory $58M cash flow $555M Capital Expenditures $221M $145M Share Repurchases in cash & short - in short -term term investments debt 27
Slide 15: We remain focused on expanding market share and delivering profitable growth
We remain focused on expanding market share and delivering profitable growth in fiscal 2026. The first quarter positioned us well against these goals with strong execution throughout the P&L … - Chris DelOrefice , CFO 28
Slide 16: Fiscal 2026 Outlook
Fiscal 2026 Outlook Provided Provided March 12, 2026 June 2, 2026 Net Sales Growth +6% to +7% no change Comparable Sales Growth 1 +2.5% to +3.5% no change Operating Income Growth +6% to +9% +6.5% to +9% Diluted Earnings per Share 2 $28.05 to $28.55 $28.36 to $28.80 Diluted Earnings per Share Growth
Slide 17: Q&A
Q&A 31