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Ulta Beauty (ULTA) Q3 2021 Earnings Call Transcript – Motley Fool

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Ulta Beauty ( ULTA 3.68% )
Q3 2021 Earnings Call
Dec 02, 2021, 4:30 p.m. ET

Contents:

  • Prepared Remarks
  • Questions and Answers
  • Call Participants

Prepared Remarks:

Operator

Good afternoon, and welcome to Ulta Beauty’s conference call to discuss results for the third quarter of fiscal 2021. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. We ask that you please limit yourself to one question and then reenter the queue for any additional questions.

[Operator instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce Ms. Kiley Rawlins, vice president of investor relations. Ms.

Rawlins, please proceed.

Kiley Rawlins — Vice President of Investor Relations

Thank you, Laura. Good afternoon, everyone. Hosting our call today are Dave Kimbell, chief executive officer; and Scott Settersten, chief financial officer. Kecia Steelman, chief operating officer, will join us for the Q&A.

This afternoon, we released our financial results for the third quarter of fiscal 2021. A copy of the press release is available in the Investor Relations section of our website. Before we begin, I’d like to remind you of the company’s safe harbor language. The statements contained in this conference call, which are not historical facts, may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Actual future results may differ materially from those projected in such statements due to a number of risks and uncertainties, all of which are described in the company’s filings with the SEC. We caution you not to place undue reliance on these forward-looking statements, which speak only as of today, December 2, 2021. We have no obligation to update or revise our forward-looking statements, except as required by law, and you should not expect us to do so. In today’s comments, we will discuss certain non-GAAP financial measures, including adjusted operating income and adjusted diluted EPS for the third quarter of fiscal 2020.

A reconciliation of these measures to the corresponding GAAP measures can be found in our earnings release, which is available in the Investor Relations section of our website. We’ll begin this afternoon with prepared remarks from Dave and Scott. Following our prepared comments, we will open up the call for questions. We respectfully request that you ask one question to allow us to have time to respond to as many of you as possible during the hours scheduled for this call.

As always, Mary Kate and I will be available for any follow-up questions after the call. Now I’d like to turn the call over to Dave. Dave?

Dave Kimbell — Chief Executive Officer

Thank you, Kiley, and good afternoon, everyone. The Ulta Beauty team delivered outstanding results again this quarter. For the third quarter, net sales increased 28.6% to a record $2 billion. Operating profit increased to 14.2% of sales, and diluted EPS increased to $3.94 per share.

In addition to producing these excellent financial results, we also delivered strong operational results. We continue to increase our market share in Prestige Beauty based on dollar sales for the 13 weeks ended October 30, 2021, compared to the same period last year. We increased the number of members in our Ultimate Rewards …….

Source: https://www.fool.com/earnings/call-transcripts/2021/12/03/ulta-beauty-ulta-q3-2021-earnings-call-transcript/