Ulta Beauty, Inc. (ULTA), a prominent retailer of beauty brands, announced on Wednesday that its Board of Directors has sanctioned a new $3 billion share repurchase program. This new authorization supersedes the previous program initiated in March.
The company highlighted that this fresh buyback program does not possess a specific expiration date, although the Board retains the right to discontinue it whenever deemed necessary.
Reaffirming its annual outlook, Ulta Beauty anticipates achieving an annual net income per share ranging from $22.60 to $23.50, with projected revenues between $11 billion and $11.2 billion.
Additionally, the company estimates it will incur between $400 million and $450 million in annual capital expenditures. Depreciation and amortization costs are projected to be between $265 million and $270 million.
