Ulta Beauty, Inc. · NASDAQ:ULTA
Ulta Beauty — Q2 2026 Earnings Presentation
24 slides from Ulta Beauty's earnings presentation, Aug 27, 2026
Slide 1: Second Quarter of Fiscal 2026 Earnings
Second Quarter of Fiscal 2026 Earnings August 27, 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: Performance Highlights
Performance Highlights Second Quarter Fiscal 2026 Net Comparable Sales Sales 1 +8.9% +3.8% vs. 2Q25 to $3.0B vs. 2Q25 +6.7% Operating Income Diluted Growth EPS +10.1% +13.3% vs. 2Q25 to $379.6M vs. 2Q25 to $6.55 1) Reflects sales for stores beginning on the first day of the 14th month of operation.
Slide 5: Performance Highlights, cont.
Performance Highlights, cont. Second Quarter Fiscal 2026 Active Loyalty Mobile App Launched Members 1 Represents ~47M 15 over 60% +3% vs. 2Q25 new brands of online sales • Increased earned media value and unaided awareness • Strategically leveraged promotions to drive traffic and sales • Fueled incr
Slide 6: Drive Core Business Growth, Scale New Accretive Businesses, Align Foundation
Drive Scale Align Core Business Growth New, Accretive Businesses Foundation for Success Invest in Critical Areas to Accelerate Drive Disruptive, Fortify our Cost Structure, Our Core Beauty Leadership Margin -Accretive Growth Operating Model and Culture Designed to Deliver Long -Term, Profitable Grow
Slide 7: Drive Core Business Growth: Omnichannel Performance Highlights
Drive Core Business Growth Omnichannel Performance Highlights Powering Company’s Overall Performance Held Stores 6 th Consecutive More Than Fulfilled Over Quarter of 40,000 50% Double -Digit in-store events of e -commerce e-commerce comps orders • Store performance driven by effective execution of k
Slide 8: Drive Core Business Growth: Brand Building Highlights
Drive Core Business Growth Brand Building Highlights Creating a Continuous Sense of Discovery • Advanced ambition to win in fragrance , drove market share gains through a strong pipeline of newness, high -impact campaigns, and engaging experiences • Delivered robust double -digit growth 1 in K -Beau
Slide 9: Drive Core Business Growth: Marketing and Personalization Highlights
Drive Core Business Growth Marketing and Personalization Highlights Strengthening Position at Intersection of Beauty, Culture and Community • Held activations at BottleRock and Lollapalooza • Amplified reach through powerful creator ecosystem spanning influential voices across social platforms • Exp
Slide 10: Scale New Accretive Businesses: International Expansion Highlights
Scale New Accretive Businesses International Expansion Highlights Space NK Ulta Beauty Mexico Ulta Beauty Middle East • Drove robust sales growth • Expanded store footprint • Advanced store opening plan • Continued market share expansion • Drove awareness through World • Remain optimistic about expa
Slide 11: Scale New Accretive Businesses: Marketplace and UB Media Highlights
Scale New Accretive Businesses Marketplace and UB Media Highlights Expanding Offering, Driving Momentum 450+ 12,000+ Double -Digit Marketplace Marketplace UB Media brands SKUs Growth 1 • Marketplace attracted new and reactivated lapsed loyalty members; served as a source of newness; and fueled incre
Slide 12: Scale New Accretive Businesses: Wellness Highlights
Scale New Accretive Businesses Wellness Highlights Fueling Incremental Growth • Held inaugural “Find Your Feel Good” wellness event, sparked meaningful engagement and awareness • Incorporated Wellness into strategic tentpole events, like Big Summer Beauty Sales • Elevated assortment with addition of
Slide 13: Align our Foundation for the Future
Align our Foundation for the Future Supply Chain Optimization and AI Advancement Highlights Unlocking Operational Efficiencies • Leveraged prior supply chain investments to improve speed to guests, increase efficiency and help offset impact of rising fuel costs • AI -powered sourcing capabilities en
Slide 14: Positioned to Win in an Evolving Environment
Positioned to Win in an Evolving Environment Delivering Meaningful Value While Deepening Engagement • Assortment spans all price points , providing guests choice and flexibility to shop on any budget • Seamless omnichannel experience enables convenient shopping and order fulfillment • Powerful, valu
Slide 15: YTD Strategic Achievements
YTD Strategic Achievements Power of Entire Ecosystem is a Key Differentiator • Fueled newness by adding 35+ new brands and collaborating with existing brands Drive Core • Maximized key selling opportunities and hosted 80,000+ in -store events Business Growth • Launched Tik Tok shop with encouraging
Slide 16: Ulta Beauty is the ultimate beauty discovery destination
Ulta Beauty is the ultimate beauty discovery destination with a strategic advantage that is difficult to replicate. - Kecia Steelman, President and CEO 16
Slide 17: Second Quarter of Fiscal 2026 Financial Review
Second Quarter of Fiscal 2026 Financial Review Chris DelOrefice CFO
Slide 18: Q2 2026 Performance Highlights
Q2 2026 Performance Highlights Sales Performance and Company -Operated Store Openings 13 Net Sales Comparable Sales 1 net new Ulta Beauty stores +8.9% +3.8% vs. 2Q25 to $3.0B vs. 2Q25 +6.7% 1 net new Space NK store Ended E-commerce high -teen Stores modest 1,534 2Q26 with Ulta Beauty stores and comp
Slide 19: Q2 2026 Category Performance
Q2 2026 Category Performance Newness and Innovation Continue to Drive Growth FRAGRANCE HAIRCARE MAKEUP SKINCARE & SERVICES high -teen high -single -digit approximately flat WELLNESS mid -single -digit comp growth comp growth comp sales modest comp decline comp growth Driven by: Driven by: Driven by:
Slide 20: Q2 2026 Performance Highlights
Q2 2026 Performance Highlights Delivered Profitable Growth Gross SG&A % of Margin 1 Net Sales -10 bps -20 bps vs. 2Q25 to 39.1% vs. 2Q25 to 26.4% Operating Income Diluted Growth EPS +10.1% +13.3% vs. 2Q25 to $379.6M vs. 2Q25 to $6.55 1) As a percentage of net sales. 20
Slide 21: YTD Balance Sheet and Capital Allocation
YTD Balance Sheet and Capital Allocation Maintaining Disciplined Capital Allocation Strategy Capital Deployed ($M) $382M $2.4B $140M in operating in inventory cash flow Capital Expenditures Share Repurchases $213M $340M $791M in cash & short -term in short -term investments debt Increased FY26 Stock
Slide 22: Fiscal 2026 Outlook
Fiscal 2026 Outlook 1 Raised Full -Year Expectations; at High -End of LT Growth Algo Provided Provided June 2, 2026 August 27, 2026 Net Sales Growth +6% to +7% +6.7% to +7.2% Comparable Sales Growth 1 +2.5% to +3.5% +3.2% to +3.7% Operating Income Growth +6.5% to +9% +8.3% to +9.3% Diluted Earnings
Slide 23: We remain focused on executing with discipline against our plans
We remain focused on executing with discipline against our plans and delivering strong profitable sales growth and double -digit earnings growth for shareholders. - Chris DelOrefice , CFO 23
Slide 24: Q&A
Q&A 24