e.l.f Beauty Stock Is Rising After Hours: What's Going On?

e.l.f. Beauty Inc ELF shares are trading higher in Wednesday's after-hours session after the company reported better-than-expected financial results and raised guidance. 

• Q3 Revenue: $215.5 million beat estimates of $196.28 million
• Q3 EPS: 82 cents beat estimates of 51 cents

Revenue was up 76% year-over-year. Gross margin came in at 71%. The company ended the quarter with $167.8 million in cash and equivalents. 

"We continue to deliver exceptional, consistent, category-leading sales growth," said Tarang Amin, chairman and CEO of e.l.f. Beauty.

Outlook: e.l.f. Beauty raised its full-year revenue guidance from a range of $792 million to $802 million to a new range of $896 million to $906 million versus estimates of $840.71 million. 

The company also raised its full-year earnings outlook from a range of $2.19 to $2.22 per share to a new range of $2.47 to $2.50 per share versus estimates of $2.44 per share. 

"As we look ahead, the significant whitespace we see across color cosmetics, skin care and international gives us confidence that we are in the early innings of unlocking the full potential we see for e.l.f. Beauty," Amin added. 

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ELF Price Action: e.l.f Beauty shares were up 7.18% at $101.33 at the time of publication, according to Benzinga Pro.

Photo: kinkates from Pixabay.