Filing Flows › Ulta Beauty (ULTA) › Q2 FY27 › vs Q1 FY27
Ulta Beauty (ULTA) Q2 FY27 vs Q1 FY27 (quarter over quarter)
Ulta Beauty's revenue fell $128M (-4%) from $3.2B in Q1 FY27 to $3.0B in Q2 FY27. Gross margin 39.1% against 40.1% (-1.0 pts).
Ulta Beauty, Q2 FY27: revenue $3.0B (+9% year over year), operating margin 12.5%, net earnings $282M, operating cash flow $120M. The chart draws each line against Q1 FY27, the increases inside each band.
Margins
| Q2 FY27 | Q1 FY27 | Change | |
|---|---|---|---|
| Gross margin | 39.1% | 40.1% | -1.0 pts |
| Operating margin | 12.5% | 14.2% | -1.7 pts |
| Net margin | 9.3% | 10.8% | -1.5 pts |
| Free cash flow margin | 1.3% | 6.4% | -5.2 pts |
Every line
| Line | Q2 FY27 | Q1 FY27 | Change | % |
|---|---|---|---|---|
| Revenue | $3.0B | $3.2B | −$128M | -4% |
| Gross profit | $1.2B | $1.3B | −$80.7M | -6% |
| Cost of revenue | $1.8B | $1.9B | −$47.5M | -3% |
| Operating profit | $380M | $448M | −$68.6M | -15% |
| Operating expenses | $807M | $819M | −$12.1M | -1% |
| Pre-tax earnings | $374M | $447M | −$73.4M | -16% |
| SG&A | $803M | $815M | −$11.9M | -1% |
| Other operating costs | $4.5M | $4.7M | −$138K | -3% |
| Net earnings | $282M | $340M | −$58.5M | -17% |
| Income tax | $91.9M | $107M | −$15.0M | -14% |
| Depreciation & amortization | $81.3M | $81.4M | −$74K | -0.1% |
| Working capital & other | $244M | $160M | $83.7M | +52% |
| Operating cash flow | $120M | $262M | −$142M | -54% |
| Free cash flow (OCF − capex) | $38.4M | $204M | −$165M | -81% |
| Capital expenditures | $81.3M | $58.3M | $23.0M | +39% |
Questions
How much did Ulta Beauty's revenue grow quarter over quarter in Q2 FY27?
Ulta Beauty's revenue fell $128M (-4%) from $3.2B in Q1 FY27 to $3.0B in Q2 FY27. Gross margin 39.1% against 40.1% (-1.0 pts).