e.l.f. Beauty beats by $0.01, beats on revs
- Reports Q1 (Mar) earnings of $0.06 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $0.05; revenues rose 0.3% year/year to $66.14 mln vs the $56.58 mln S&P Capital IQ Consensus.
- Gross margin was 61%, flat when compared to the first calendar quarter of 2018, with benefits from lower sales adjustments and margin accretive innovation offset by the impact of tariffs on goods imported from China along with adjustments to inventory and the Company's inventory reserve.
- Co issues guidance for FY19, sees EPS of $0.35-0.39, may not be comparable to $0.65 S&P Capital IQ Consensus; sees FY19 revs of $235-245 mln, may not be comparable to $255.68 mln S&P Capital IQ Consensus.
- Fiscal 2020 outlook does not include e.l.f. stores. When compared to net sales in fiscal 2019 excluding the contribution of e.l.f. stores, the fiscal 2020 outlook reflects an expected 4-8% decline in net sales.
- The Company also announced that its Board of Directors approved a share repurchase program authorizing the Company to repurchase up to $25 million of its common shares