e.l.f.(US:ELF) zacks.com·2024-05-23 17:10Core Insights - e.l.f. Beauty reported strong fourth-quarter fiscal 2024 results, with both net sales and earnings exceeding expectations and improving from the previous year [1][2][3] Financial Performance - Adjusted earnings per share reached 53 cents, surpassing the Zacks Consensus Estimate of 35 cents, marking a 26.2% increase year-over-year [3] - Net sales surged 71.4% year-over-year to $321.1 million, exceeding the consensus estimate of $292 million, driven by robust performance in retail and e-commerce channels [3] Market Position - The company expanded its market share by 325 basis points, achieving its 21st consecutive period of growth in both net sales and market share [2] Profitability Metrics - Gross profit increased 76% year-over-year to $227.2 million, with gross margin expanding 180 basis points to 70.7% due to favorable foreign exchange effects and cost savings [4] - Adjusted EBITDA rose to $40.9 million from $21.2 million in the prior year, with the adjusted EBITDA margin increasing 140 basis points to 12.7% [6] Expense Management - Adjusted selling, general and administrative (SG&A) expenses increased 72.9% year-over-year to $196.9 million, with SG&A as a percentage of net sales decreasing by 50 basis points to 61.3% [5] Cash and Debt Position - The company ended the quarter with cash and cash equivalents of $108.2 million and long-term debt of $161.8 million, alongside total shareholders' equity of $642.6 million [9] Fiscal 2025 Outlook - For fiscal 2025, e.l.f. Beauty anticipates a 20-22% year-over-year increase in net sales, projecting net sales between $1.23 billion and $1.25 billion [10] - Adjusted EBITDA is expected to be between $285 million and $289 million, indicating growth from the previous year's $235 million [10] - Adjusted net income is forecasted between $187 million and $191 million, with adjusted earnings per share expected to be $3.20-$3.25 [11]