---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-010462"
form_type: "8-K"
ticker: "ULTA"
cik: "0001403568"
company_name: "Ulta Beauty, Inc."
filed_at: "2023-05-25T23:59:59+00:00"
generated_at: "2026-06-14T14:19:40.003354+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Ulta Q1 net sales $2.63B (+12.3% YoY), EPS $6.88 vs $6.30; raises FY23 revenue guidance

## Summary
- Comparable sales +9.3% (prior Q1 +18.0%) driven by 11.0% transaction growth partially offset by 1.5% lower average ticket.
- Operating margin 16.8% vs 18.7% YoY; FY23 operating margin guidance narrowed to 14.5%-14.8% from 14.7%-15.0%.
- FY23 net sales guidance raised to $11.0B-$11.1B (prior $10.95B-$11.05B); EPS unchanged at $24.70-$25.40.
- Repurchased 541,108 shares for $285.8M in Q1; $816.5M remaining under $2B buyback program.
- Inventory increased to $1.75B vs $1.57B a year ago due to higher demand, product cost increases, and 41 net new stores.

## SEC filing metadata
- accession: 0001558370-23-010462
- form_type: 8-K
- ticker: ULTA
- cik: 0001403568
- company_name: Ulta Beauty, Inc.
- filed_at: 2023-05-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1403568/000155837023010462/0001558370-23-010462-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1403568/000155837023010462/ulta-20230525x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-010462
- JSON: https://secwatch.observer/filing/0001558370-23-010462.json
- Plain text: https://secwatch.observer/filing/0001558370-23-010462.txt

## Key facts
- Earnings Releases
  Ulta Beauty, Inc. reported fiscal year 2023 results: revenue $11.0 billion to $11.1 billion, EPS $24.70 to $25.40.
  - Period: fiscal year 2023
  - Revenue: $11.0 billion to $11.1 billion
  - EPS: $24.70 to $25.40
  - Result: guidance update
  source text: The Company has updated its outlook for fiscal 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prior FY23 Outlook ​ Updated FY23 Outlook Net sales ​ ​ $10.95 billion to $11.05 billion ​ $11.0 billion to $11.1 billion Comparable sales ​ ​ 4% to 5% ​ no change New stores, net ​ ​ 25-30 ​ no change Remodel and relocation projects ​ ​ 20-30 ​ no change Operating margin ​ ​ 14.7% to 15.0% ​ 14.5% to 14.8% Diluted earnings per share ​ ​ $24.70 to $25.40 ​ no change
  evidence_url: https://www.sec.gov/Archives/edgar/data/1403568/000155837023010462/0001558370-23-010462-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.