Ulta Beauty Inc

ULTA: XNAS (USA)

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Ulta Beauty Earnings: Alluring Sales Growth Brings Some Unsightly Expenses; Shares Overvalued

David Swartz

Mar 13, 2026

Ulta Beauty posted a 5.8% comparable sales increase in the fourth quarter of 2025. Its operating margin declined 260 basis points to 12.2% due to higher costs from the SpaceNK acquisition, incentive compensation, and strategic investments, such as marketing. EPS was $8.01, down from $8.46.

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Ulta Beauty Inc

Ulta Beauty Earnings: Alluring Sales Growth Brings Some Unsightly Expenses; Shares Overvalued

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