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Ulta Beauty fiscal Q2 profit climbs 20.9% YOY

Ulta Beauty Inc. said its normalized net income for the fiscal second quarter ended Aug. 1 was $1.15 per share, compared with the S&P Capital IQ consensus estimate of $1.12 per share.

EPS rose 21.4% year over year from 95 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $74.2 million, a gain of 20.9% from $61.4 million in the prior-year period.

The normalized profit margin climbed to 8.5% from 8.4% in the year-earlier period.

Total revenue grew 19.4% year over year to $877.0 million from $734.2 million, and total operating expenses increased 19.2% on an annual basis to $758.5 million from $636.3 million.

Reported net income grew 21.9% year over year to $74.1 million, or $1.15 per share, from $60.8 million, or 94 cents per share.