Filing Flows › Ulta Beauty (ULTA) › Q2 FY27
Ulta Beauty (ULTA) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Aug 27, 2026
Ulta Beauty (ULTA) reported revenue of $3.0B for the second quarter fiscal 2027 (Q2 FY27), +9% from a year earlier and -4% from the quarter before. Operating margin was 12.5%, net earnings $282M (9.3% of revenue).
Ulta Beauty, Q2 FY27: revenue $3.0B (+9% year over year), operating margin 12.5%, net earnings $282M, operating cash flow $120M. The chart follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | -4% | +9% |
| Gross profit | $1.2B | -6% | +9% |
| Operating profit | $380M | -15% | +10% |
| Net earnings | $282M | -17% | +8% |
| Operating cash flow | $120M | -54% | +24% |
| Free cash flow | $38.4M | -81% | +96% |
What changed
Revenue was $3.0B in Q2 FY27, up 9% year over year and down 4% from the previous quarter.
Gross margin was 39.1%, down 0.1 points from Q2 FY26. Operating profit was $0.38B, a 12.5% margin (up 0.1 points year over year). Of the extra revenue versus Q2 FY26, 14% reached operating profit, above the 12% margin then. Operating expenses grew 8% against revenue growth of 9%. Net earnings were $0.28B, up 8% year over year. The effective tax rate was 24.6%.
Operating cash flow was $0.12B (up 24% year over year), 42% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization. Working capital and other items used $0.24B. Capital expenditures of $0.08B left free cash flow of $0.04B.
Questions
What was Ulta Beauty's revenue in the second quarter fiscal 2027?
Ulta Beauty (ULTA) reported revenue of $3.0B for the second quarter fiscal 2027 (Q2 FY27), +9% from a year earlier and -4% from the quarter before.
Was Ulta Beauty profitable in the second quarter fiscal 2027?
Operating profit was $380M (12.5% of revenue) and net earnings $282M.
Source: Ulta Beauty 10-Q on SEC EDGAR.