E.l.f. Beauty has issued a full-year sales and profit forecast below Wall Street expectations, citing potential pressures from rising oil prices linked to geopolitical conflicts. The cosmetics company, which manufactures approximately 75% of its products in China, expects to collect $58.5 million in tariff refunds after import levies were struck down by the US Supreme Court. For fiscal year 2027, E.l.f. projects net sales of $1.84 billion to $1.87 billion, with adjusted profit of $3.27 to $3.32 per share — both below analyst estimates. Despite the cautious outlook, E.l.f. delivered a strong Q4, with net sales rising 35% to $449.3 million, beating the estimate of $423.1 million.

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