Ulta Beauty (ULTA) will report Q1 earnings after the market closes today (4:03 ET last quarter) with a conference call at 5 PM ET. 

Current Cap IQ consensus estimates Q1 EPS of $3.07 (vs $2.70 last year) on revs of $1.74 bln (+13% Y/Y) with comps +7%. 

ULTA will also update FY 19 guidance which currently calls for EPS of $12.65-12.85 on revs growth of in the low double-digits and comps growth of ~6-7%, including e-commerce growth of 20-30%. Current S&P Cap IQ Consensus estimates EPS +18% to $12.90 with revs +12% to $7.55 bln and comps +6.8%. 

Last quarter, ULTA beat EPS for the third consecutive quarter and comp sales for the second consecutive quarter. The 9.4% comparable sales (vs. +8% estimate) increase was driven by 7.1% transaction growth and 2.3% growth in average ticket; retail comparable sales increased 7.0%, including salon comparable sales growth of 6.2%; E-commerce comparable sales increased 25.1%, representing 240 basis points of the total Company comparable sales increase of 9.4%; Top performing categories were mass cosmetics, prestige boutique brands, fragrance, and prestige skin care 


ULTA has an $19.6 bln market cap and trades at a forward PE of 27x vs peers AVP (27x), SBH (8x), and EL (30.6x)

TRADE: Rather just wait for the report and trade off of that. May31 355C is the best risk reward on the board though for front running.