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Elf Beauty up after raising annual sales, profit forecast

By Reuters News

** Shares of cosmetics maker Elf Beauty ELF.N rise 3% to $117 in extended market trading

** Co raises annual targets, betting on strong demand for its value-offering products

** Sees FY2027 sales in the range of $2,003 million to $2,029 million, compared to previous estimates of $1,938 million to $1,968 million

** Expects annual adjusted EPS between $3.82 and $3.86 versus previous expectations of $3.50 to $3.55

** Q2 gross margin increased about 760 basis points to 77%, including approximately 30 basis points benefit from incremental IEEPA-tariff refunds

** ELF also beats quarterly estimates

** As of last close, stock up ~50% YTD

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