Ulta Beauty, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Net income per common share

Net income per common share

3 Months Ended

May 02, 2026

11.Net income per common share

The following is a reconciliation of net income and the number of shares of common stock used in the computation of net income per basic and diluted common share:


		13 Weeks Ended
		May 2,			May 3,
(In thousands, except per share data)		2026			2025
Numerator:
Net income		$	340,469		$	305,052

Denominator:
Weighted-average common shares – Basic			43,781			45,362
Dilutive effect of stock options and non-vested shares			183			146
Weighted-average common shares – Diluted			43,964			45,508

Net income per common share:
Basic		$	7.78		$	6.72
Diluted		$	7.74		$	6.70

The denominator for diluted net income per common share for the 13 weeks ended May 2, 2026 and May 3, 2025 excludes 277 and 354 employee stock options and restricted stock units, respectively, due to their anti-dilutive effects. Outstanding performance-based restricted stock units are included in the computation of dilutive shares only to the extent that the underlying performance conditions are satisfied prior to the end of the reporting period or would be considered

satisfied if the end of the reporting period were the end of the related contingency period and the results would be dilutive under the treasury stock method.