ÅF AB Aktie

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WKN DE: A115QU / ISIN: SE0005999836

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07.11.2024 21:58:20

Why e.l.f. Beauty Stock Made a Big Comeback Today

Shares of cosmetics company e.l.f. Beauty (NYSE: ELF) made a big comeback on Thursday after the company released financial results for its fiscal second quarter of 2024. Going into the report, shares had lost more than 50% of their value compared to their highs in 2024. But today, e.l.f. Beauty stock was up 16% as of 2 p.m. ET.In Q2, which ended Sept. 30, e.l.f. Beauty grew net sales by 40% to $301 million, which surpassed expectations. It apparently surpassed internal expectations as well considering that management updated its full-year guidance for the second time this year. Previously it was looking for full-year net sales just shy of $1.3 billion but now it believes sales will be slightly above $1.3 billion.The bottom line for e.l.f. Beauty was a different story. The company had Q2 net income of $19 million, which isn't bad. But it was down 43% from the prior-year period. Management had a notable increase in marketing spend, among other things, which lowered profits.Continue readingWeiter zum vollständigen Artikel bei MotleyFool

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