The stock was up 8.68% to $339.65 a share in late morning trading Friday, an all-time high.
Earnings per share for the fourth quarter were $3.61, beating Wall Street's estimate of $3.56. Per-share earnings rose 31% from a year earlier.
Revenue was $2.12 billion, beating analysts' estimates of $2.11 billion. Same-store-sales were up 9.4%, beating forecasts of 7.9%.
"The Ulta Beauty team delivered excellent results in the fourth quarter," said CEO Mary Dillon. "This performance reflects an acceleration in comparable sales in our retail stores, primarily driven by traffic."
Dillon also said Ulta has been gaining more market share in cosmetics. "We continued to gain significant share across all major categories, particularly with digitally native brands where Ulta Beauty is often the only point of distribution in brick and mortar," she said.
The company said it's looking for full year 2019 EPS of between $12.65 to $12.85, a comparable-store sales increase of 6% to 7%, and e-commerce growth of 20% to 30%. The company also plans to open 80 new stores.
The stock has risen 36% this year.