Ulta Beauty Inc ( ULTA ) reported fourth-quarter financial results Thursday after the bell. Here’s a quick rundown of the report.

Q4 Earnings: Ulta Beauty ( ULTA ) said fourth-quarter revenue increased 10.2% year-over-year to $3.55 billion, which beat the consensus estimate of $3.53 billion. The specialty beauty retailer reported quarterly earnings of $8.08 per share, which beat analyst estimates of 7.53 per share, according to Benzinga Pro.

Ulta has now beat analyst estimates on both the top and bottom lines in 13 consecutive quarters, according to data from Benzinga Pro.

Comparable sales were up 2.5% year-over-year, driven by a 4.5% increase in transactions and a 1.9% decrease in the average ticket. 

Operating income increased 15.5% to $517.1 million on a year-over-year basis. Ulta noted that its fiscal fourth quarter of 2023 contained one extra week than the fourth quarter of 2022.

Ulta said it added 13 new stores in the quarter, bringing total locations up to 1,385. Merchandise inventories were up 8.6% at the end of the quarter at $1.7 billion. The company said it ended the quarter with $766.6 million in cash and equivalents. 

Ulta also noted that it repurchased $159.5 million of its stock in the fourth quarter. The company’s board has also approved a new share repurchase authorization of $2 billion, which will replace the prior authorization from 2022.

“We closed out a strong 2023 with better-than-expected fourth quarter financial performance. Our compelling holiday plans and thoughtfully curated assortment resonated with our guests and delivered healthy traffic, record brand awareness, and strong member growth,” said Dave Kimbell, CEO of Ulta Beauty ( ULTA ).

“We enter 2024 well-positioned to drive strong top and bottom-line growth, build on our foundational capabilities, and unlock further advantages of our differentiated model.”

Outlook: Ulta Beauty ( ULTA ) expects fiscal year 2024 revenue to be between $11.7 billion and $11.8 billion versus estimates of $11.14 billion, according to Benzinga Pro. 

The company sees fiscal year 2024 earnings in the range of $26.20 to $27 per share versus estimates of $25.49 per share.

“While we are mindful the near-term macro environment remains dynamic, we are optimistic about the resiliency of the beauty category, energized by the growth opportunities ahead of us, and confident in our ability to deliver for our guests and our shareholders,” Kimbell added.

The company will hold a conference call to talk about its quarterly results at 4:30 p.m. ET.

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ULTA Price Action: Ulta Beauty ( ULTA ) shares were down 5.25% after hours at $535.75 at the time of writing, according to Benzinga Pro.