e.l.f. Beauty, Inc. (ELF) · Nov 4, 2026 · Earnings

e.l.f. Beauty earnings beat estimates as 2027 guidance rises again

Beat — Adjusted EPS $1.21 vs ~$0.60 consensus

e.l.f. Beauty earnings beat Q2 expectations sharply, with 51% sales growth and a second fiscal 2027 guidance increase.

The setup: e.l.f. Beauty entered this quarter as a fast-growing, multi-brand cosmetics company using the rhode acquisition to extend its growth runway; it had already raised fiscal 2027 sales-growth guidance from 12–14% to 18–20% in August. This filing says that momentum is still accelerating, not fading.

The quarter was a clear beat, not just a year-over-year growth story. Net sales reached $520.8 million, well above the published consensus of about $473.5 million, while adjusted diluted EPS was $1.21 versus roughly $0.60 expected. The sales gain was 51% year over year, and adjusted EBITDA rose to $123.4 million from $66.2 million.

Q2 FY2027Q2 FY2026Consensus
Net sales (Financial Statements)$520.8M (+51.4%)$343.9M$473.5M
Adjusted diluted EPS (Adjusted Net Income)$1.21 (+77.9%)$0.68~$0.60
Adjusted EBITDA (Adjusted EBITDA)$123.4M (+86.2%)$66.2M
Gross margin (Financial Highlights)71% (+160 bps)

Management raised the full-year bar for the second time this fiscal year. Fiscal 2027 sales guidance moved to $2.003–2.029 billion from $1.938–1.968 billion, while adjusted EPS rose to $3.82–3.86 from $3.50–3.55. That is roughly a 3% lift to the revenue midpoint and a 9% lift to the EPS midpoint, making this more than a routine confirmation.

The quality of the beat is good, but not entirely organic or cost-free. Gross margin expanded to 71%, helped by lower tariffs and IEEPA tariff refunds, while SG&A rose sharply as e.l.f. invested in marketing, merchandising, distribution, compensation and depreciation. The rhode earnout was also revalued upward by $17.7 million because the brand is outperforming its earnout thresholds, which supports the acquisition thesis but creates a reported expense.

The balance sheet is improving despite the acquisition burden. Cash rose to $350.8 million from $194.4 million a year earlier, while total debt declined to $826.7 million from $856.7 million. Operating cash flow reached $126.3 million in the first six months, although working-capital investment in receivables and inventory absorbed cash.

Bottom line: This materially strengthens e.l.f.’s current growth story: the business beat a demanding quarterly benchmark and raised an already-raised outlook again. Tariff benefits and acquisition-driven growth are part of the result, but the filing still shows execution running ahead of expectations rather than merely meeting them.

Original filing on SEC EDGAR

e.l.f. Beauty earnings beat estimates as 2027 guidance rises again | ELF Stock News
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