Why Ulta Beauty Stock Is Trading Higher After-Hours Wednesday

Ulta Beauty ULTA shares are trading higher after the company reported better-than-expected Q2 earnings results and raised FY21 guidance.

Ulta reported Q2 EPS of $4.56, beating the $2.42 estimate. The company also reported Q2 sales results of $1.97 billion, beating the $1.72 billion estimate.

Ulta raised its FY21 EPS guidance from the range of $11.50 to $11.95 to the range of $14.50 to $14.70. The company also raised its FY21 sales guidance from the range of $7.7 billion to $7.8 billion to the range of $8.1 billion to $8.3 billion.

"The Ulta Beauty team delivered strong results for the second quarter. This performance reflects the recovery of the beauty category, investments and choices we've made over the last year to adapt to the market disruption and strengthen our leadership position, and the ongoing efforts of our associates to deliver great experiences for our guests," said Dave Kimbell, chief executive officer.

At last check, Ulta Beauty was trading 4.64% higher at $408.1 after market hours on Wednesday.