E.l.f. Beauty Shares Surge on Strong Earnings and Raised Forecast

The cosmetics company reported a 40% sales increase and expanded its market presence with a new Dollar General partnership.

E.l.f. Beauty posted Q2 earnings of 77 cents per share, significantly exceeding analyst expectations of 43 cents.
The company's quarterly revenue rose by 40% to $301.1 million, surpassing forecasts of $285.8 million.
E.l.f. increased its full-year sales outlook to between $1.32 billion and $1.34 billion, up from a previous range of $1.28 billion to $1.30 billion.
The company announced a new partnership with Dollar General to reach underserved rural markets and expand its customer base.
International sales grew by 91%, contributing to a gross margin increase to 71%, aided by cost-saving measures and price hikes.