Ulta (ULTA) Q2 earnings: Taking a look at key metrics versus estimates

Ulta Beauty (ULTA - Free Report) reported $3.04 billion in revenue for the quarter ended July 2026, representing a year-over-year increase of 8.9%. EPS of $6.55 for the same period compares to $5.78 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $2.97 billion, representing a surprise of +2.1%. The company delivered an EPS surprise of +5.48%, with the consensus EPS estimate being $6.21.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Ulta performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Comparable sales - YoY change: 3.8% versus the eight-analyst average estimate of 2%.
• Total stores open at end of the quarter [U.S.]: 1,534 compared to the 1,537 average estimate based on six analysts.
• Number of stores opened during the quarter [U.S.]: 14 versus 16 estimated by five analysts on average.
• Net Sales by Primary Category - Services: 4% versus the two-analyst average estimate of 3.8%.
• Total stores open at beginning of the quarter [U.S.]: 1,521 compared to the 1,521 average estimate based on two analysts.
• Net Sales by Primary Category - Fragrance: 13% versus 12.5% estimated by two analysts on average.
• Net Sales by Primary Category - Haircare: 20% versus the two-analyst average estimate of 19.3%.
• Net Sales by Primary Category - Cosmetics: 37% versus 37.5% estimated by two analysts on average.
• Net Sales by Primary Category - Other: 2% versus 2% estimated by two analysts on average.