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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Chris Horvers | JPMorgan | 6 questions · 0% challenging |
| Mike Baker | D.A. Davidson | 5 questions · 0% challenging |
| Olivia Tong | Raymond James | 5 questions · 20% challenging |
| Michael Lasser | UBS | 5 questions · 40% challenging |
| Adrienne Yih | Barclays | 5 questions · 0% challenging |
| Simeon Gutman | Morgan Stanley | 4 questions · 25% challenging |
| Mark Altschwager | Robert W. Baird | 4 questions · 0% challenging |
| Michael Binetti | Evercore ISI | 4 questions · 75% challenging |
| Dana Telsey | Telsey Advisory Group | 4 questions · 0% challenging |
| Susan Anderson | Canaccord Genuity | 4 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 1 analyst | 6 questions · 0% challenging |
| UBS | 1 analyst | 5 questions · 40% challenging |
| Guggenheim | 2 analysts | 5 questions · 0% challenging |
| D.A. Davidson | 1 analyst | 5 questions · 0% challenging |
| Jefferies | 2 analysts | 5 questions · 0% challenging |
| Raymond James | 1 analyst | 5 questions · 20% challenging |
| Barclays | 1 analyst | 5 questions · 0% challenging |
| Evercore ISI | 1 analyst | 4 questions · 75% challenging |
Ulta Beauty opened fiscal 2026 with net sales up 11.1% to $3.2 billion and comparable sales up 5.3%, as a 3.7% increase in average ticket and a 1.6% increase in transactions lifted all channels and major categories. Gross margin expanded 100 basis points to 40.1% on lower inventory shrink and higher merchandise margin, helping diluted EPS rise 15.5% to $7.74. Fragrance led with high-teen comp growth while management leaned into new businesses including a TikTok Shop launch, an expanded marketplace, and AI-driven personalization. Citing strong execution, the company raised its operating profit growth outlook to 6.5% to 9% and its diluted EPS guidance to $28.36 to $28.80 while maintaining 6% to 7% net sales growth, and it lifted its fiscal 2026 buyback target from $1 billion to $1.5 billion. Management struck a measured tone on the balance of the year, pointing to a value-focused consumer, rising fuel costs, and low-single-digit comps against tougher comparisons.
Competitive Dynamics | Revenue Growth | Margin | Demand | Innovation & R&D | Capex Investment | Product Launch | Pricing | |
|---|---|---|---|---|---|---|---|---|
| 2024Q3 | 5 | 3 | 3 | 2 | 1 | 1 | ||
| 2024Q4 | 6 | 5 | 2 | 2 | 2 | 1 | 1 | |
| 2025Q1 | 6 | 5 | 2 | 2 | 3 | 1 | 2 | |
| 2025Q2 | 4 | 5 | 4 | 1 | 2 | 2 | 1 | |
| 2025Q3 | 3 | 3 | 4 | 3 | 3 | 4 | 2 | 1 |
| 2025Q4 | 2 | 3 | 4 | 1 | 2 | 2 | 1 | |
| 2026Q1 | 2 | 1 | 4 | 5 | 1 |
| '24Q3 | '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|---|
| Competitive Dynamics | 5 | 6 | 6 | 4 | 3 | 2 | 2 |
| Revenue Growth | 3 | 5 | 5 | 5 | 3 | 3 | 1 |
| Margin | 3 | 2 | 2 | 4 | 4 | 4 | 4 |
| Demand | 2 | 2 | 3 | 5 | |||
| Innovation & R&D | 1 | 2 | 3 | 1 | 3 | 1 | |
| Capex Investment | 2 | 2 | 4 | 2 | |||
| Product Launch | 1 | 1 | 1 | 2 | 2 | 2 | |
| Pricing | 1 | 2 | 1 | 1 | 1 | 1 |
What ULTA said about other companies on its FY2026 Q1 call, and what other companies said about ULTA on their calls covering the same calendar quarter (Q2 2026). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“our franchise partner, Alshaya, opened our third store in the Middle East at the Dubai Mall”
Ulta's franchise partner Alshaya opened a third Middle East store at Dubai Mall, reflecting Alshaya's role in Ulta's international franchise expansion.
“existing brands, including MAC, Kylie Cosmetics and Estee Lauder helped deliver growth for prestige makeup.”
Estée Lauder brands (including MAC) drove prestige makeup growth at Ulta this quarter, a positive signal for Estée Lauder's prestige-makeup demand.
“We recently launched a YouTube enhanced measurement product, which provides deeper insights and benefits to our brand.”
Ulta's UB Media launched a YouTube measurement product that showed higher ad returns than other video channels, a positive signal for YouTube as a beauty-advertising channel.
“we are integrating with leading AI platforms like Google's Gemini to enable agentic commerce.”
Ulta is integrating with Google's Gemini to enable agentic commerce, positioning Google's AI platform as a channel for Ulta's future shopping experiences.
“This growth was partially offset by lower royalty income from our partnership with Target Corporation.”
Ulta reported lower royalty income from its Target partnership (Ulta Beauty at Target shops), a slightly negative signal for the scale of that in-store partnership.
“This quarter marked the exciting launch of our TikTok Shop with a strategic focus on our Only at Ulta exclusive brands.”
Ulta launched a TikTok Shop for its exclusive brands, expanding TikTok's social-commerce footprint with a major beauty retailer.
“expanded same-day delivery options through Uber Eats and new Buy Now, Pay Later options through Klarna”
Ulta added Klarna as a Buy Now, Pay Later option at checkout, giving Klarna a new beauty-retail financing partnership.
“expanded same-day delivery options through Uber Eats and new Buy Now, Pay Later options through Klarna”
Ulta expanded same-day delivery through Uber Eats, adding incremental beauty-retail delivery volume to Uber's platform.
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Calendar quarter Q2 2026Earnings call Jun 2, 2026
FY2026 Q1 in brief
Ulta Beauty opened fiscal 2026 with net sales up 11.1% to $3.2 billion and comparable sales up 5.3%, as a 3.7% increase in average ticket and a 1.6% increase in transactions lifted all channels and major categories.
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Sources. Tellvest earnings-call sentiment score for Ulta Beauty (ULTA), FY2026 Q1: 8/10. Scores: Ulta Beauty’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: ULTA daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
GAAP revenue YoY +11.1% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $3.49B | -1.9% | $8.46 | +4.7% | 38.2% | 14.8% | 11.3% | $963M |
| FY2025 Q1 | $2.85B | +4.5% | $6.70 | +3.6% | 39.1% | 14.1% | 10.7% | $141M |
| FY2025 Q2 | $2.79B | +9.3% | $5.78 | +9.1% | 39.2% | 12.4% | 9.4% | $20M |
| FY2025 Q3 | $2.86B | +12.9% | $5.14 | 0.0% | 40.4% | 10.8% | 8.1% | $-82M |
| FY2025 Q4 | $3.90B | +11.8% | $8.01 | -5.3% | 38.1% | 12.2% | 9.1% | $989M |
| FY2026 Q1Selected | $3.16B | +11.1% | $7.74 | +15.5% | 40.1% | 14.2% | 10.8% | $204M |
| FY2026 Q2 | $3.04B | +8.9% | $6.55 | +13.3% | 39.1% | 12.5% | 9.3% | $38M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Company | Score | Trend | Rev YoY | Headline |
|---|---|---|---|---|
| ULTAUlta Beauty | 8 | +11.1% | Ulta Beauty opened fiscal 2026 with net sales up 11.1% to $3.2 billion and comparable sales up 5.3%, as a 3.7% increase in average ticket and a 1.6% increase in transactions lifted all channels and major categories | |
| BBYBest Buy | 6 | +1.9% | Best Buy opened fiscal 2027 with better-than-expected results, reporting enterprise revenue of $8.9 billion up 1.9% and enterprise comparable sales growth of 2%, ahead of its roughly 1% outlook, with positive comps across most major categories led by gaming, computing and mobile phones | |
| CASYCasey's General Stores, Inc. | 9 | +14.5% | Casey's closed fiscal 2026 with a record fourth quarter, posting diluted EPS of $4.37, up 66% year over year, and net income of $162.7 million, up 65.5% | |
| GMEGameStop Corp. | 8 | +14.1% | GameStop's fiscal 2026 first quarter (the 13 weeks ended May 2, 2026) paired double-digit sales growth with a sharp swing to record operating profitability | |
| TSCOTractor Supply | Newest quarter — available with Pro | Newest quarter — available with Pro | Newest quarter — available with Pro | |
| WSMWilliams-Sonoma | 6 | +4.3% | Williams-Sonoma delivered 4.8% comp growth with all brands running positive, led by West Elm at +8.5% and the Williams Sonoma brand at +5.0% on top of a 7.3% comp last year |
Ulta Beauty opened fiscal 2026 with net sales up 11.1% to $3.2 billion and comparable sales up 5.3%, as a 3.7% increase in average ticket and a 1.6% increase in transactions lifted all channels and major categories
Best Buy opened fiscal 2027 with better-than-expected results, reporting enterprise revenue of $8.9 billion up 1.9% and enterprise comparable sales growth of 2%, ahead of its roughly 1% outlook, with positive comps across most major categories led by gaming, computing and mobile phones
Casey's closed fiscal 2026 with a record fourth quarter, posting diluted EPS of $4.37, up 66% year over year, and net income of $162.7 million, up 65.5%
Newest-quarter details for 1 peer (score, revenue, headline, themes and macro signals) are available with Pro.
| Company | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|
| ULTA | 6 | 7 | 9 | 8 | 7 | 8 |
| BBY | 6 | 3 | 5 | 7 | 5 | 6 |
| CASY | 6 | 7 | 6 | 7 | 8 | 9 |
| GME | 3 | 3 | 6 | 5 | 4 | 8 |
| TSCO | 2 | 6 | 7 | 6 | 5 | Newest quarter — available with Pro |
| WSM | 7 | 6 | 7 | 6 | 5 | 6 |
GameStop's fiscal 2026 first quarter (the 13 weeks ended May 2, 2026) paired double-digit sales growth with a sharp swing to record operating profitability
Newest quarter — available with Pro
Williams-Sonoma delivered 4.8% comp growth with all brands running positive, led by West Elm at +8.5% and the Williams Sonoma brand at +5.0% on top of a 7.3% comp last year