E.l.f. Beauty’s Net Sales Increase 13% in Q4

Net sales for E.l.f. Beauty increased 13% to $105.1 million for the three and 12 months ended March 31.

 

For the full year, net sales increased 23% to $392.2 million. 

 

The increase was driven primarily to strength in its national and international retailers, company officials said.

 

“Our outstanding results in fiscal 2022 underscore E.l.f.’s core value proposition and deep connection with our consumers,” said Tarang Amin, e.l.f. Beauty's chairman and CEO. “I am so proud of how our team continues to execute in this dynamic environment. We grew net sales by 23% year over year while building market share according to Nielsen. We were the only top five color cosmetics brand to grow sales and share above pre-pandemic levels by a wide margin. We believe our competitive advantages and differentiated brand portfolio will continue to fuel our momentum.”

 

Gross margin increased approximately 100 basis points to 64.2%, chiefly driven by cost savings, margin accretive mix, and price increases, partially offset by unfavorable foreign exchange rates and increased transportation costs.

 

Selling, general and administrative (SG&A) expenses increased $7.5 million to $65.3 million or 62.1% of net sales. Adjusted SG&A was $60.5 million, or 57.5% of net sales. The year-over-year increase in SG&A dollars was primarily related to compensation, benefits, and marketing investments.

 

Adjusted earnings before interest, taxes, depreciation, and amortization was $12.8 million or 12.2% of net sales.