e.l.f. Beauty (ELF) Earnings: Q2 Fiscal 2027 Results and Next Report Date

The quarter ended September 30, 2026 and e.l.f. Beauty published the results on November 4, 2026. Revenue and diluted EPS are shown against Q2 fiscal 2026, the same quarter a year earlier, which takes seasonal swings out of the comparison. e.l.f. Beauty reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• e.l.f. Beauty's fiscal year ends March 31, so Q2 fiscal 2027 is the quarter ended September 30, 2026.
• e.l.f. Beauty acquired rhode on August 5, 2025, so the year-ago quarter includes rhode only from that date: $52.4 million of net sales.

Source: e.l.f. Beauty Q2 fiscal 2027 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How e.l.f. Beauty splits revenue in its own release, under its own labels, for Q2 fiscal 2027 against Q2 fiscal 2026. Indented lines are parts of the line above them.

• e.l.f. Beauty's United States revenue was $347 million in Q2 fiscal 2027, up 25% from $278 million in Q2 fiscal 2026, 67% of total revenue.
• e.l.f. Beauty's International revenue was $174 million in Q2 fiscal 2027, up 165% from $65.7 million in Q2 fiscal 2026, 33% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

e.l.f. Beauty's updated fiscal 2027 outlook table: net sales $2,003-2,029 million (previously $1,938-1,968 million), adjusted EBITDA $421-427 million (previously $401-407 million), adjusted net income $231-233 million, adjusted diluted EPS $3.82-3.86 (previously $3.50-3.55), adjusted effective tax rate 25-26%, and 60.5 million weighted average diluted shares.

In its Q2 fiscal 2027 release, e.l.f. Beauty said:

“The updated outlook for fiscal 2027 reflects an expected 22-24% year-over-year increase in net sales, as compared to an expected 18-20% increase previously.”

Source: e.l.f. Beauty Q2 fiscal 2027 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the ELF forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net sales and diluted EPS, each as first reported in that quarter's release.

e.l.f. Beauty's next report is expected around February 3, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q2 fiscal 2027 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q2 fiscal 2027 (this page), reported Nov 4, 2026

e.l.f. Beauty's net sales rose 51% to $520.8 million in Q2 fiscal 2027, from $343.9 million, its 31st consecutive quarter of net sales growth. Retailer channels added $143.9 million, up 53%, and e-commerce channels $32.9 million, up 45%. By e.l.f. Beauty's split, a higher volume of units sold drove $107.8 million of the increase and a higher average item price and mix the remaining $69.1 million. (e.l.f. Beauty Q2 fiscal 2027 release, Nov 4, 2026; e.l.f. Beauty Form 10-Q, Q2 fiscal 2027, Nov 5, 2026)

The brands are e.l.f. Cosmetics, e.l.f. SKIN, e.l.f. Hair, rhode, Naturium and Well People. rhode, the beauty brand founded by Hailey Bieber, was acquired on August 5, 2025 for $897.5 million in cash, shares and a potential earnout, and contributed $293.5 million of the $323.0 million net sales increase in fiscal 2026. Because the deal closed partway through the year-ago quarter, Q2 fiscal 2026 included only $52.4 million of rhode net sales. (e.l.f. Beauty Q2 fiscal 2027 release, Nov 4, 2026; e.l.f. Beauty Form 10-K, fiscal 2026, May 21, 2026; e.l.f. Beauty Form 10-Q, Q2 fiscal 2027, Nov 5, 2026)

International sales grew fastest. International net sales were $174.2 million in the quarter, against $65.7 million a year earlier, while United States net sales rose to $346.7 million from $278.2 million. In fiscal 2026 the United States was 79% of net sales and international markets the remaining 21%. (e.l.f. Beauty Form 10-Q, Q2 fiscal 2027, Nov 5, 2026; e.l.f. Beauty Form 10-K, fiscal 2026, May 21, 2026)

e.l.f. Beauty depends on a few retailers. In fiscal 2026 Target accounted for 18% of net sales, Walmart 13%, Amazon 11% and Sephora 10%, and national and international retailers together made up 76% of net sales, with e-commerce the other 24%. (e.l.f. Beauty Form 10-K, fiscal 2026, May 21, 2026)

e.l.f. Beauty's GAAP diluted EPS was $0.50 in Q2 fiscal 2027 and adjusted diluted EPS $1.21, against $0.05 and $0.68 a year earlier. Adjusted net income of $72.7 million adds back $24.6 million of stock-based compensation, a $17.7 million change in fair value of contingent consideration, and $11.1 million of amortization of acquired intangible assets, less a $10.2 million tax impact. (e.l.f. Beauty Q2 fiscal 2027 release, Nov 4, 2026)

The contingent consideration charge is the rhode earnout. e.l.f. Beauty recorded the $17.7 million fair value adjustment because rhode's revenue outperformed the earnout thresholds in the merger agreement; the earnout has a maximum payment of $200.0 million, payable annually after each measurement period through September 30, 2028. (e.l.f. Beauty Q2 fiscal 2027 release, Nov 4, 2026; e.l.f. Beauty Form 10-K, fiscal 2026, May 21, 2026)

Gross margin rose about 160 basis points to 71%, including about 30 basis points from incremental IEEPA tariff refunds. The effective tax rate was 30.2%, against 175.1% in the year-ago quarter, when e.l.f. Beauty booked a $7.0 million tax benefit. Diluted shares were 60,089,314; e.l.f. Beauty repurchased 900,063 shares for $50.0 million in the June quarter and none in the September quarter. (e.l.f. Beauty Q2 fiscal 2027 release, Nov 4, 2026; e.l.f. Beauty Form 10-Q, Q2 fiscal 2027, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

e.l.f. Beauty gives a full-year outlook in its release and raised it with Q2 fiscal 2027 results. It now expects fiscal 2027 net sales of $2,003-2,029 million, a 22-24% increase, up from $1,938-1,968 million and 18-20% before, adjusted EBITDA of $421-427 million and adjusted diluted EPS of $3.82-3.86, up from $3.50-3.55. (e.l.f. Beauty Q2 fiscal 2027 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover e.l.f. Beauty, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones e.l.f. Beauty's own release and filings put weight on for Q2 fiscal 2027, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning ELF is on is ELF a buy or a sell?, what analysts expect next is on the ELF forecast, and what the company does is on the e.l.f. Beauty (ELF) stock page.

Every number on this page can be traced to a document e.l.f. Beauty published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.