Ulta Beauty Q2 Earnings Beat as Sales Rise, FY26 View Raised

ULTA reported second-quarter fiscal 2026 earnings of $6.55 per share, up 13.3% year-over-year, and net sales of $3.04 billion, up 8.9%, both topping consensus estimates. The beauty retailer raised its full-year fiscal 2026 guidance, now projecting net sales growth of 6.7% to 7.2% and earnings per share of $28.70 to $29.00.

The company's loyalty program expanded to 47 million members, supporting omnichannel momentum. ULTA deployed $791.10 million toward stock repurchases during the period, underscoring management's confidence in returns.

The guidance increase marks a shift from earlier caution in the beauty category. Second-quarter comparable sales growth and margin performance drove the upward revision, with management citing sustained traffic and basket strength across physical and digital channels.

ULTA shares have been volatile amid broader retail rotation, but the loyalty member base expansion and disciplined capital allocation provide a buffer against discretionary spending headwinds hitting peers.