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E.l.f. Beauty's Profit Plunge and Weak Sales Outlook Drive Guidance Cut

e.l.f. Beauty, Inc. has revised its full-year guidance downwards following a significant drop in profits and a disappointing sales outlook. The company, known for its affordable cosmetics, reported a sharp decline in its fiscal fourth-quarter earnings, with adjusted earnings per share falling to 4 cents from 34 cents the previous year. This decline was attributed to weaker-than-expected sales, particularly in the mass cosmetics market, where e.l.f. primarily competes. The company now anticipates net sales to be between $697 million and $702 million for the fiscal year, a reduction from the earlier forecast of $705 million to $720 million. Additionally, the adjusted earnings per share are expected to be between 58 and 62 cents, down from the prior estimate of 61 to 64 cents. This adjustment reflects broader market challenges and increased competition in the beauty sector.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/smallbusiness/e-l-f-beauty-s-profit-plunge-and-weak-sales-outlook-drive-guidance-cut/vi-AA1yCsKw ]