Filing Flows › Ulta Beauty (ULTA) › Q3 FY26
Ulta Beauty (ULTA) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Dec 4, 2025
Ulta Beauty (ULTA) reported revenue of $2.9B for the third quarter fiscal 2026 (Q3 FY26), +13% from a year earlier and +2% from the quarter before. Operating margin was 10.8%, net earnings $231M (8.1% of revenue).
Ulta Beauty, Q3 FY26: revenue $2.9B (+13% year over year), operating margin 10.8%, net earnings $231M, operating cash flow $5.6M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | +2% | +13% |
| Gross profit | $1.2B | +6% | +15% |
| Operating profit | $309M | -10% | -3% |
| Net earnings | $231M | -11% | -5% |
| Operating cash flow | $5.6M | -94% | — |
What changed
Revenue was $2.9B in Q3 FY26, up 13% year over year and up 2% from the previous quarter.
Gross margin was 40.4%, up 0.7 points from a year earlier. Operating profit was $0.31B, a 10.8% margin (down 1.8 points year over year). Operating profit fell $0.01B even though revenue rose $0.33B versus a year earlier, so costs grew faster than sales. Operating expenses grew 23% against revenue growth of 13%. The fastest-growing cost line was SG&A (+23%). Net earnings were $0.23B, down 5% year over year. The effective tax rate was 24.1%.
Operating cash flow was $0.01B, 2% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization. Working capital and other items used $0.30B. Capital expenditures of $0.09B exceeded it, leaving free cash flow of −$0.08B.
Questions
What was Ulta Beauty's revenue in the third quarter fiscal 2026?
Ulta Beauty (ULTA) reported revenue of $2.9B for the third quarter fiscal 2026 (Q3 FY26), +13% from a year earlier and +2% from the quarter before.
Was Ulta Beauty profitable in the third quarter fiscal 2026?
Operating profit was $309M (10.8% of revenue) and net earnings $231M.
Source: Ulta Beauty 10-Q on SEC EDGAR.