E.l.f. Beauty stock soars 15% on big earnings beat, raised guidance

Core Viewpoint - E.l.f. Beauty experienced a significant increase in share price by approximately 15% following a strong earnings report and an upward revision of its fiscal year guidance [1] Financial Performance - Net sales rose by 38% to $489.5 million, up from $355 million in the same quarter last year, driven by global growth across retailers and e-commerce [1] - Adjusted net income for the quarter was reported at $74.5 million [1] - Earnings per share were $1.24 adjusted, exceeding expectations of 72 cents [4] - Revenue surpassed expectations at $490 million compared to the anticipated $460 million [4] Strategic Acquisitions - The acquisition of Hailey Bieber's skincare brand, rhode, for approximately $1 billion contributed $128 million to the net sales growth in the third quarter [2] - E.l.f. projects rhode will contribute up to $265 million in net sales for the year, an increase of $65 million from previous guidance [2] Market Position and Growth - The company gained 130 basis points in market share for its e.l.f. Cosmetics brand [3] - The launch of rhode in Sephora in the U.K. was described as record-breaking, indicating strong market reception [3] - E.l.f. raised its full-year revenue outlook by $42 million to $50 million [2]