MW E.l.f. Beauty's more upbeat outlook shows demand for cosmetics is still growing

By Bill Peters

Shares were soaring in Wednesday's after-hours session as the cosmetics maker raised its outlook and touted market-share gains

E.l.f. Beauty reported third-quarter results on Wednesday.

Shares of e.l.f. Beauty jumped after hours on Wednesday, after the cosmetics maker raised its full-year outlook as shoppers continue to seek out lower-priced cosmetics.

The company (ELF) said it now expects full-year sales of $1.6 billion to $1.612 billion, up from a prior forecast for $1.55 billion to $1.57 billion. E.l.f. expects adjusted earnings per share of $3.05 to $3.10, up from a range of $2.80 to $2.85 a share.

For e.l.f.'s fiscal third quarter, the company reported adjusted earnings of $1.24 a share, with sales up 38% to $489.5 million, helped by growth in physical stores and by online sales in the U.S. and abroad.

Analysts polled by FactSet had expected e.l.f. Beauty to report adjusted earnings per share of 72 cents for its fiscal third quarter, on $461.8 million in sales.

Shares were up 13.5% toward a three-month high in recent after-hours trading on Wednesday.

E.l.f. reported the results as demand for cosmetics and skin-care products continues to hold up despite rising prices and tariffs, and as the beauty industry remains defined by cleaner, minimalist looks and wellness.

E.l.f. has tried to capitalize on those trends through its $1 billion acquisition deal with Hailey Bieber's beauty and skincare brand Rhode, and by expanding into stores like Target (TGT) and Dollar General $(DG)$.

CEO Tarang Amin said in a statement on Wednesday that the company's core cosmetics gained market share during the quarter. Amin also highlighted the launch of Rhode in Sephora outlets in the U.K.

Some analysts say that beauty-products retailer Ulta Beauty $(ULTA)$ stands to benefit from "masstige," or the chain's combination of mass-produced and higher-end offerings. Ulta shares tacked on 0.3% in after-hours trading.

-Bill Peters

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February 04, 2026 16:53 ET (21:53 GMT)

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