e.l.f. Beauty (ELF) Company Report

e.l.f. Beauty projects 2%-5% organic growth for the second half of the fiscal year, with global consumption running at 8% but a significant 4-point pipeline impact, which could lead to Q4 organic growth dipping negative due to concentrated shipments in the prior year's Q4.
The company recently repurchased $50 million of stock, signaling management's belief in a disconnect between the stock's current valuation and the business's strong fundamentals and long-term potential.
International consumption is currently down mid-single digits in Q3 year-to-date, primarily attributed to a highly promotional environment in the U.K. and the company lapping the launch in Rossmann Germany, despite a 55% 5-year international CAGR.
The acquired Rhode brand is performing exceptionally well, with its Sephora North American launch being 2.5 times bigger than any previous Sephora launch, and is projected to achieve a $300 million run rate in 2026, representing 40% growth. Rhode's margins are also expected to be above e.l.f.'s total margins.
e.l.f. Beauty continues to gain market share, marking 27 consecutive quarters of gains and picking up 90 basis points in October, driven by strong productivity and ongoing shelf space expansion with key retailers. A 15% price increase across its portfolio resulted in only low single-digit unit declines.

4 days ago

Transcript

e.l.f. Beauty Discusses H2 FY Outlook, Rhode Growth, and Market Share Gains

ELF

Guidance Update

M&A

Share Buyback

e.l.f. Beauty anticipates 2%-5% organic growth for the second half of the fiscal year, with Q3 expected to be at or above this range and Q4 potentially seeing negative growth due to pipeline impacts. Total company top-line growth is projected at 24%-27% for the second half.
The company continues to demonstrate strong market share gains, marking 27 consecutive quarters of growth, including a 90 basis point increase in October. U.S. consumption remains robust at 12%, although international consumption is down mid-single digits due to U.K. promotional activity and lapping the Rossmann Germany launch.
The acquired Rhode brand has shown exceptional performance, with its Sephora North American launch being 2.5 times larger than any previous Sephora launch. Rhode is now the number one skincare brand at Sephora and is forecast to achieve approximately $300 million in run-rate net sales in 2026, representing 40% growth.
e.l.f. Beauty successfully implemented a 15% price increase across its portfolio, resulting in only low single-digit unit declines, and remains committed to driving unit growth. The company recently repurchased $50 million of stock, reflecting management's confidence in the business's long-term potential.

4 days ago

Transcript

e.l.f. Beauty provides H2 fiscal year outlook and updates on rhode acquisition and market share gains

ELF

Guidance Update

M&A

Share Buyback

e.l.f. Beauty projects 2%-5% organic growth for the second half of the fiscal year, with Q4 potentially seeing a negative impact due to pipeline issues, while total company top-line growth is expected to be 24%-27%.
The company has repurchased $50 million of stock and maintains a strong balance sheet, with a net debt to EBITDA ratio of less than two turns post-rhode acquisition.
e.l.f. continues to demonstrate strong market performance, gaining 90 basis points of market share in October (marking 27 consecutive quarters of share gains) and successfully implementing a 15% price increase with only low single-digit unit declines.
The acquired rhode brand is a significant growth driver, having achieved $212 million in net sales (DTC only) and becoming the number one skincare brand at Sephora. It is projected to reach a $300 million run rate in 2026 (up 40%) and is expected to maintain margins above e.l.f.'s total margins.

4 days ago

Transcript

E.l.f. Beauty Launches in Six GCC Countries via Sephora

ELF

Product Launch

New Projects/Investments

E.l.f. Beauty has expanded its international presence by launching in six Gulf Cooperation Council (GCC) countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE).
This expansion is an exclusive partnership with Sephora, making products available in 70 Sephora stores and online at sephora.me.
The move is driven by strong organic demand, with social media mentions in the region up 38%, and the GCC being the most requested area without a prior retail presence for e.l.f..
The launch is supported by a regional marketing campaign, 'eyes.lips.finally,' featuring prominent out-of-home advertising in Dubai and Riyadh.
This strategic expansion aims to strengthen e.l.f.'s global footprint, building on international growth where non-U.S. sales accounted for 20% of net revenue in Q2 FY26.

Nov 20, 2025, 10:15 AM

Morningstar

e.l.f. Beauty Management Discusses FQ2 Performance, Share Repurchase, and Strategic Outlook

ELF

Share Buyback

M&A

Revenue Acceleration/Inflection

e.l.f. Beauty repurchased $50 million of shares after its FQ2 results, citing an "overreaction" to the stock's pullback and expressing confidence in future growth.
The company has maintained 27 consecutive quarters of market share gains, becoming the number one unit share brand and number two dollar share brand in the U.S. mass beauty market.
Despite FQ2 shipments being impacted by "stop shipments" and tough prior-year comparisons, management expects strong Q3 shipments and projects double-digit overall growth long-term, driven by continued consumption and international expansion.
Gross margins are anticipated to expand by 200 basis points sequentially in the second half to approximately 71%, supported by recent pricing adjustments and the accretive impact of the rhode acquisition, despite a 60% average tariff rate from China.
The recent rhode acquisition, which achieved $212 million in net sales in under three years, is expected to positively impact margins and has seen record-breaking retail launches, contributing to the company's growth vectors.

Nov 14, 2025, 5:30 PM

Transcript

ELF Management Addresses FQ2 Pullback and Reaffirms Growth Outlook

ELF

Share Buyback

Guidance Update

Revenue Acceleration/Inflection

e.l.f. management believes the pullback in stock price following FQ2 results was an overreaction, leading them to repurchase $50 million of shares to demonstrate confidence in the business and its future.
The 3% decline in FQ2 organic sales was a deliberate decision to temporarily stop shipments to retailers who were slow to implement a price increase taken on August 1, rather than a reflection of weakening demand.
The company maintains its full-year guidance of 18%-20% growth and expects double-digit overall growth in the long term, driven by strong consumption trends and 27 consecutive quarters of market share gains.
International growth is anticipated to accelerate in the second half of the year with launches in Poland, GCC countries, and dm-drogerie markt in Germany, supported by robust innovation plans for Fall 2025 and Spring 2026.

Nov 14, 2025, 5:30 PM

Transcript

e.l.f. Beauty Discusses FQ2 Performance, Strategic Initiatives, and Outlook

ELF

Guidance Update

M&A

New Projects/Investments

e.l.f. Beauty's FQ2 organic sales declined 3% primarily due to a temporary halt in shipments to retailers who were slow to implement a price increase. This issue has been resolved, and normal shipments have resumed.
The company anticipates stronger Q3 shipments compared to Q4, driven by the resumption of delayed Q2 shipments and cycling of prior year pipeline effects. The full-year organic sales guidance is 3%-4%, with an implied 2%-5% growth in the second half.
The rhode acquisition is expected to be accretive to overall EBITDA margin and positively impact gross margins, contributing to the company's 18%-20% overall growth guidance for the year.
Second-half gross margin is projected to be around 71%, nearly flat year-over-year, despite a 60% tariff rate out of China (up from 25% in the base year), aided by pricing benefits and rhode's strong margin profile.
International growth slowed to 2% in FQ2 due to lapping the Rossmann launch and increased UK promotional activity, but sequential improvement is expected in Q3 with new launches and distribution expansions.

Nov 14, 2025, 5:30 PM

Transcript

e.l.f. Beauty Reports Mixed Q2 Results and Updates FY26 Guidance

ELF

Earnings

Guidance Update

e.l.f. Beauty reported mixed second-quarter financial results, with revenue rising 14% year-over-year to $344 million, missing analyst expectations, while adjusted earnings per share of $0.68 beat estimates.
The company issued fiscal year 2026 guidance forecasting revenues between $1.55 billion and $1.57 billion and adjusted EPS of $2.80 to $2.85, which is below Wall Street expectations.
This guidance reflects over $50 million in annual tariff costs impacting gross margins, which fell to 69%, and contributed to a 84% plunge in net income to $3 million for the quarter.
The Rhode brand acquisition is expected to contribute $200 million in sales this fiscal year and be margin-accretive, with analysts maintaining a positive longer-term outlook despite the stock experiencing significant declines.

Nov 6, 2025, 10:31 AM

CNBC

ELF Beauty Announces Q2 FY 2026 Results and Updates FY 2026 Outlook

ELF

Earnings

Guidance Update

M&A

ELF Beauty reported Q2 FY 2026 net sales growth of +14% and Adjusted EBITDA of $66 million, with Adjusted EPS of $0.68.
The company achieved its 27th consecutive quarter of net sales growth and market share gains.
For FY 2026, ELF Beauty projects net sales growth of +18-20%, with Adjusted EBITDA between $302-306 million and Adjusted EPS of $2.80-2.85.
The FY 2026 outlook includes organic net sales growth of +3-4% (excluding RHODE) and an estimated $200 million contribution from RHODE post-closing, while Q2 FY 2026 organic net sales growth was -3%.

Nov 5, 2025, 9:30 PM

Presentation

ELF Beauty Reports Q2 2026 Results and Updates Fiscal 2026 Outlook

ELF

Earnings

Guidance Update

M&A

e.l.f. Beauty reported Q2 fiscal 2026 net sales of $344 million, a 14% year-over-year increase, with the Rhode acquisition contributing $52 million. Adjusted EBITDA for the quarter was $66 million, down 4% from the prior year, and adjusted diluted EPS was $0.68.
For fiscal year 2026, the company expects net sales growth of 18%-20%, with Adjusted EBITDA between $302-$306 million and Adjusted EPS between $2.80-$2.85 per diluted share.
Q2 gross margin was 69%, down approximately 165 basis points year-over-year, largely driven by incremental tariff costs, with an average China tariff impact of 60% this year compared to 25% last year. The company anticipates second-half gross margin to improve to approximately 71%.
Strategic initiatives include a $1 global price increase on August 1 and expanding retail space with Target, Walmart, and Ulta Beauty. Marketing and digital investment for the full year is targeted at 24%-26% of net sales, with a timing shift leading to higher spend in the second half. The Rhode brand, acquired by e.l.f. Beauty, had the biggest launch in Sephora North America's history.

Nov 5, 2025, 9:30 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for e.l.f. Beauty.

Q2 2026

Nov 5, 2025

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Q1 2026

Aug 6, 2025

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Q4 2025

May 28, 2025

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e.l.f. Beauty (ELF)

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