E.L.F. Beauty (NYSE:ELF) announced its latest quarterly earnings results after hours, bringing in a profit that topped what Wall Street called for, but a revenue miss sent shares sinking late Tuesday.
The California-based international cosmetics brand announced that it brought in fourth quarter net income at roughly $9.6 million, about 20 cents per share. The figure was less than half of its year-ago profit of $21.5 million, or 44 cents per share.
E.L.F. Beauty added that its earnings tallied up to 30 cents per share on an adjusted basis, 9 cents above the FactSet guidance.
The company’s sales for the period came in at $78.6 million, about $3 million below its $81.6 million from the year-ago quarter. Wall Street was projecting E.L.F. Beauty to rake in revenue of $84.5 million, according to FactSet.
The cosmetics business added that its E.L.F. Beauty stores were responsible for 5% of the company’s net sales in 2018. Expect the company to take a one-time charge of around $23 million to $25 million for its current quarter ending March 31, 2019. The brand added that CFO John Bailey is stepping down on the same day.
Revenue during this transition period is slated to be in the range of $55 million to $58 million, while adjusted earnings is projected to be between 4 cents and 6 cents per share.
ELF stock was down about 16.7% after the bell on Tuesday as the company reported revenue that missed what Wall Street was calling for. Shares had been falling a touch above 0.1% during regular trading hours ahead of E.L.F. Beauty’s results.
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