Ulta Beauty (NASDAQ: ULTA) Beats Q1 2026 Estimates, Plans Times Square Flagship

Ulta Beauty (NASDAQ: ULTA) delivered a strong first quarter of fiscal 2026, reporting adjusted EPS of $7.74 against the analyst consensus of $6.87 — a beat of $0.87, or roughly 12.7% — while simultaneously unveiling plans for a new flagship store in New York City's Times Square. Revenue of $3.16 billion topped the $3.11 billion estimate, rising 11.1% from $2.85 billion in the year-ago period. Shares climbed over 5% in after-hours trading on Tuesday, June 2, following the results.

Q1 2026 Results

• Adjusted EPS: $7.74, beating the $6.87 consensus estimate by $0.87.
• Revenue: $3.16 billion, up 11.1% year over year, exceeding the $3.11 billion estimate.
• Comparable-store sales: Rose 5% for stores open at least one year, ahead of Wall Street forecasts, according to Yahoo Finance.
• Full-year guidance: Raised, per the company's June 2 earnings release filed with the SEC.
• Times Square flagship: A new New York City location was announced alongside the quarterly results, according to Yahoo Finance.

What Drove the Results

According to reporting from Yahoo Finance, beauty buying proved resilient in the quarter, with both top- and bottom-line results coming in ahead of forecasts. The 5% comparable-store sales gain signals that existing locations are pulling meaningful foot traffic rather than growth being driven solely by new store openings.

The Times Square flagship announcement adds a high-visibility retail bet to the company's expansion story. Times Square draws tens of millions of visitors annually, and a presence there would place Ulta Beauty alongside some of the world's most recognized retail brands, according to Yahoo Finance's reporting on the announcement.

The company also raised its full-year profit outlook alongside the quarterly results, reflecting management's confidence in demand trends continuing through fiscal 2026. Share buybacks were also cited as a contributor to EPS performance, according to ChartMill.

Wall Street View

Analyst sentiment heading into the report was already constructive. As of June 1, 2026, the consensus stood at 9 Strong Buy, 16 Buy, 8 Hold, and 1 Sell — an improvement from the prior month's 8 Strong Buy, 16 Buy, and 9 Hold breakdown, suggesting a modest tilt toward greater conviction ahead of the print. No specific updated price targets were available following Tuesday's release.

Investor Takeaway

Ulta Beauty's Q1 2026 results — $7.74 in adjusted EPS, $3.16 billion in revenue, and a 5% comparable-store sales gain — all came in ahead of consensus, and the company backed that performance with a raised full-year profit outlook. The Times Square flagship announcement adds a tangible growth initiative to what was already a clean beat. With Wall Street's Buy-heavy consensus intact and guidance moving higher, the fundamental picture heading into the remainder of fiscal 2026 looks notably more positive than it did entering the quarter.