Ulta's Q2 EPS, rev seen rising but shares slip

** In the last eight quarters, Ulta's revenue met or beat expectations seven times, with its last revenue miss in Q2 2024 (-2.3%); EPS beat six times, with the most recent miss in Q4 of fiscal year 2026.

** In its most recent quarter, Ulta drew demand for higher-priced products and pulled in young customers, helping it beat first-quarter estimates and raise its annual profit forecast.

** Estee Lauder (EL.N) shares have rallied more than 25% since its August 19 forecast of annual profit above estimates. Coty (COTY.N) shares are down about 8% since it forecast current-quarter earnings below expectations and withheld its annual outlook on the same date. Elf Beauty (ELF.N) shares are up more than 20% after it raised annual sales and profit forecasts on August 5, citing its push outside the US where shoppers have reined in spending due to sticky inflation.

** Shares in cosmetics retailer Ulta Beauty (ULTA.O) were down 2.1% on Thursday ahead of its fiscal second-quarter report due after the market close.

** Wall Street sees Ulta reporting second-quarter revenue up 7% year over year to $2.98 billion and adjusted earnings per share of $6.19, versus $5.79 in the year-ago quarter, according to LSEG.

** Ulta's stock last traded at $531.59 versus a median price target of $635, according to LSEG, which shows 28 analyst ratings: 7 'strong buy,' 13 'buy,' 7 'hold,' and 1 'sell'.

** Year to date, the stock is down about 12% versus a loss of about 1% for the S&P 500 consumer discretionary sector (.SPLRCD).