elf Hikes on Estimates

e.l.f. Beauty (NYSE:ELF) shares leapt after the company exceeded analysts’ estimates in its fiscal third quarter. The company posted adjusted earnings of 48 cents per share on revenue of $146.5 million. Analysts called for per-share earnings of 23 cents on revenue of $121.8 million, according to Refinitiv. The company also raised its full-year outlook.Net sales increased 49% to $146.5 million, primarily driven by strength in both our retailer and e-commerce channels. Gross margin increased approximately 180 basis points to 67%, primarily driven by price increases, cost savings and product mix…