E.l.f. Beauty began fiscal 2024 with a bang.

The Oakland, California-based beauty company, whose brands include Well People and Soulcare in addition to its namesake cosmetics and skincare lines, once more blew through Wall Street estimates on each the highest and bottom lines, allowing it to lift its full-year forecasts.

Net sales increased 76 percent to $216.3 million for the three months ended June 30, compared with $122.6 million a 12 months earlier, primarily driven by strength in each retailer and e-commerce channels. Analysts polled by Factset had on average penciled in sales to are available in at $206 million.

“This marks our 18th consecutive quarter of delivering each net sales growth and market share gains. We’re one in all only five publicly traded consumer firms out of 274 that has grown for 18 straight quarters and averaged not less than 20 percent sales growth per quarter over that period,” said Tarang Amin, E.l.f. Beauty’s chairman and chief executive officer.

While color cosmetics continued to perform well, skincare sales were particularly strong in the course of the quarter, based on Amin. “I feel consumers really appreciate sort of the standard of our skincare on the reasonably priced prices,” he continued. “In order that’s definitely working, but there wasn’t a segment we had that didn’t exhibit growth so we’re in a extremely good position.”

Adjusted diluted earnings per share were $1.10, up from 39 cents. Again, this beat Wall Street forecasts of 65 cents.

Because of this of the better-than-expected quarterly performance, E.l.f. updated its full-year outlook for fiscal 2024 to reflect an expected 37 to 39 percent year-over-year increase in net sales, as in comparison with an expected 22 to 24 percent increase previously.

It’s now expecting net sales to be within the region of $792 million to $802 million, up from previous expectations of $705 million to $720 million. Net income is forecast to are available in at $125 million to $127 million, from $98.5 million to $100.5 million.

Amin believes it may only go up from here, telling WWD in an interview that he’s bullish in regards to the future.

“While we’ve a 9.5 percent share, the number-three position in color cosmetics nationally, we’re the number-one brand at Goal with an 18 share. The one difference between Goal and everybody else is that Goal had a five- or six-year head start over everyone,” referring to the incontrovertible fact that it initially launched exclusively in Goal. “As others replicate the success we’ve seen at Goal, I’m much more bullish in regards to the future in not only color cosmetics but in addition skincare.”

E.l.f. was named the 63rd biggest beauty manufacturer in 2022 by Beauty Inc, with an estimated $497 million in sales. A separate WWD study of 104 global apparel, luxury, retail and wonder firms found that only 26 firms within the space beat the Dow last 12 months, with E.l.f. leading the way in which, rising 66.5 percent. This marked quite the turnaround as at one point in 2019 shares fell below $8. Shares closed down 0.2 percent, or 22 cents, to $116.50 on Tuesday.