Oppenheimer analysts provided their outlook on Ulta Beauty, Inc. (NASDAQ:ULTA) ahead of the upcoming Q1 earnings report, scheduled on May 25, expecting another strong top-line delivery, but seeing more subdued bottom-line growth.
Unlike previous quarters, the analysts believe that there is not much room for improvement in earnings per share (EPS) due to an ambitious investment plan, a slightly more competitive beauty market, and a declining retail industry for non-essential items. They anticipate Q1 EPS of $6.57, compared to the Street estimate of $6.82.
On the guidance front, the analysts expect management to only reiterate full-year guidance vs. flowing through any potential beat amidst ongoing macro uncertainty and the conservative nature of the management team.