01:24 PM EST, 11/07/2024 (MT Newswires) -- (Updates to add stock move in the headline and the first paragraph.)

e.l.f. Beauty (ELF) shares advanced 18% in recent Thursday trading after the company's fiscal Q2 results surpassed market expectations.

The company reported fiscal Q2 adjusted earnings late Wednesday of $0.77 per diluted share, down from $0.82 a year earlier.

Analysts polled by Capital IQ expected $0.43.

Net sales for the quarter ended Sept. 30 were $301.1 million, up from $215.5 million a year earlier.

Analysts surveyed by Capital IQ expected $289.6 million.

The company said it now expects higher fiscal 2025 adjusted EPS of $3.47 to $3.53, compared with $3.36 to $3.41 expected previously. Analysts surveyed by Capital IQ expect $3.55.

Net sales for the fiscal year are now expected to range between $1.32 billion and $1.34 billion, compared with $1.28 billion to $1.30 billion anticipated previously. Analysts polled by Capital IQ expect $1.33 billion.

Price: 122.63, Change: +18.47, Percent Change: +17.73