e.l.f. Beauty posts near‑doubling profit after $50 million tariff refund

E.l.f. Beauty reported a first‑quarter profit increase of almost 100%, driven largely by a one‑time $50 million tariff refund that boosted earnings. The company cited strong sales, product innovation and market expansion as underlying factors supporting the surge.

Analyst houses raised their price targets on the stock following the earnings beat. UBS lifted its target to $89, while Bank of America, JPMorgan Chase, Sanford C. Bernstein and others set new objectives ranging from $85 to $121. The shares rose to $92.04 on the day of the report, with the company posting earnings of $1.75 per share, above consensus estimates.