11:45 AM EST, 11/25/2025 (MT Newswires) -- Ulta Beauty ( ULTA ) is expected to report another solid quarter but will likely issue a conservative guidance update, partly due to ongoing uncertainty surrounding consumer spending and the broader macroeconomic environment, Oppenheimer said in a note Tuesday.

The beauty retailer is scheduled to release its fiscal Q3 results on Dec. 4 after the market closes.

Analysts said they expect the company to post earnings per share of $4.60, slightly above the Street's $4.54 estimate, reflecting projected comparable store sales growth of 4%, compared with the 3.2% consensus.

The investment firm believes that sales momentum continued into Q3, supported by ongoing product innovation and newness in stores. Reports from suppliers and competitors also suggest that the broader beauty category remained healthy through September, according to the note.

The company is likely to raise its EPS outlook for fiscal year 2025 only toward the upper end of the current $23.85 to $24.30 range, falling short of the current Street estimate of $24.51, analysts said.

Oppenheimer said Ulta Beauty ( ULTA ) remains a top pick and kept an outperform rating on the stock, with a price target of $600.

Shares of Ulta Beauty ( ULTA ) were up more than 2% in recent trading Tuesday.

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