Elf Beauty stock falls after company’s mixed fiscal 2021 guidance

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Elf Beauty Inc. shares fell more than 6% in the extended session Wednesday after the company reported better-than-expected fiscal 2021 second-quarter earnings and sales, but guidance for the year was mixed. Elf said it earned $400,000, or a penny a share, in the quarter, compared with $6.5 million, or 13 cents a share, in the year-ago period. Adjusted for one-time items, Elf earned $8.1 million, or 16 cents a share, in the quarter, compared with 15 cents a share a year ago. Sales rose 7% to $72.4 million, Elf said, mostly thanks to strong online sales and growth in international sales, the company said. Analysts polled by FactSet had expected adjusted earnings of 13 cents a share on sales of $68.5 million. Elf guided for fiscal 2021 revenue between $297 million and $303 million, and adjusted EPS between 59 cents and 63 cents. “While we expect consumer behavior to be impacted by COVID-19 through the rest of our fiscal year, we remain optimistic about our ability to continue to gain share,” Chief Financial Officer Mandy Fields said in a statement. The analysts surveyed by FactSet expect fiscal 2021 sales around $296 million and adjusted EPS around 66 cents. Shares of Elf ended the regular trading day up 2.7%.
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