Filing Flows › Ulta Beauty (ULTA) › Q1 FY27
Ulta Beauty (ULTA) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Jun 2, 2026
Ulta Beauty (ULTA) reported revenue of $3.2B for the first quarter fiscal 2027 (Q1 FY27), +11% from a year earlier and -19% from the quarter before. Operating margin was 14.2%, net earnings $340M (10.8% of revenue).
Ulta Beauty, Q1 FY27: revenue $3.2B (+11% year over year), operating margin 14.2%, net earnings $340M, operating cash flow $262M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.2B | -19% | +11% |
| Gross profit | $1.3B | -15% | +14% |
| Operating profit | $448M | -6% | +12% |
| Net earnings | $340M | -5% | +12% |
| Operating cash flow | $262M | -78% | +19% |
| Free cash flow | $204M | -79% | +44% |
What changed
Revenue was $3.2B in Q1 FY27, up 11% year over year and down 19% from the previous quarter.
Gross margin was 40.1%, up 0.9 points from Q1 FY26. Operating profit was $0.45B, a 14.2% margin (up 0.1 points year over year). Of the extra revenue versus Q1 FY26, 15% reached operating profit, above the 14% margin then. Operating expenses grew 15% against revenue growth of 11%. Net earnings were $0.34B, up 12% year over year. The effective tax rate was 23.9%.
Operating cash flow was $0.26B (up 19% year over year), 77% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization. Working capital and other items used $0.16B. Capital expenditures of $0.06B left free cash flow of $0.20B.
Questions
What was Ulta Beauty's revenue in the first quarter fiscal 2027?
Ulta Beauty (ULTA) reported revenue of $3.2B for the first quarter fiscal 2027 (Q1 FY27), +11% from a year earlier and -19% from the quarter before.
Was Ulta Beauty profitable in the first quarter fiscal 2027?
Operating profit was $448M (14.2% of revenue) and net earnings $340M.
Source: Ulta Beauty 10-Q on SEC EDGAR.