THE WHAT? Elf Beauty has announced its results for the first quarter of fiscal 2024. The mass market beauty brand saw sales leap a huge 76 percent to US$216.3 million and the brand gained 260 basis points of market share in the three months to June versus the prior year.
THE DETAILS Adjusted EBITDA rose 135 percent year on year to total US$74.3 million and diluted earnings per share stood at US$0.93 versus US$0.27 in the prior year period.
The company has updated its outlook for fiscal 2024 accordingly and is now expecting sales growth in the region of 37 to 39 percent, compared to the previously forecast 22 to 24 percent.
THE WHY? Tarang Amin, Elf Beauty’s Chairman and Chief Executive Officer, comments, “We are off to a terrific start in our new fiscal year with net sales growth of 76 percent and market share gains of 260 basis points in Q1. This marks our 18th consecutive quarter of delivering both net sales growth and market share gains. We are one of only five publicly traded consumer companies out of 274 that has grown for 18 straight quarters and averaged at least 20 percent sales growth per quarter over that period. As we look ahead, we believe we are in the early innings of unlocking the full potential we see for Elf Beauty and are raising our fiscal 2024 outlook to reflect our continued momentum.”
Buy aesthetic products refers to the act of purchasing items that are specifically designed for enhancing or maintaining beauty, often related to skincare, cosmetics, or procedures in the field of aesthetics. These products can include a wide range of items intended to improve the appearance and health of the skin, hair, and body. Here are some examples of aesthetic products that individuals might purchase:
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Skincare Products: Including cleansers, moisturizers, serums, and treatments targeting specific skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
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Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows designed to enhance facial features and achieve desired looks.
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Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
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Dermatological Treatments: Prescription or over-the-counter treatments for medical conditions like acne, eczema, psoriasis, or rosacea.
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Aesthetic Devices: Equipment used for professional treatments including laser devices, microneedling pens, radiofrequency devices, and IPL (Intense Pulsed Light) machines.
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Injectable Aesthetics: Products such as dermal fillers and botulinum toxin (Botox) used to enhance facial contours, reduce wrinkles, and achieve smoother skin.
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Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
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Home Use Beauty Devices: Devices like facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
