Ulta Beauty Inc. said its normalized net income for the fiscal first quarter ended May 3 came to 78 cents per share, compared with the S&P Capital IQ consensus estimate of 74 cents per share.
EPS climbed 19.5% year over year from 66 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $50.7 million, an increase of 19.7% from $42.3 million in the prior-year period.
The normalized profit margin dropped to 7.1% from 7.3% in the year-earlier period.
Total revenue grew 22.5% year over year to $713.8 million from $582.7 million, and total operating expenses climbed 22.9% year over year to $632.9 million from $515.0 million.
Reported net income grew 18.7% on an annual basis to $49.7 million, or 77 cents per share, from $41.9 million, or 65 cents per share.