E.l.f. Beauty's board approves $500 million buyback program
By Dean Seal
The board of e.l.f. Beauty (ELF) has authorized a new $500 million share-repurchase program.
The cosmetics company said Tuesday that the new program follows a $25 million authorization from 2019, which e.l.f. exhausted after spending $17 million on repurchases in just the past two weeks.
The program, which doesn't have an expiration date, allows for buybacks on the open market and in privately negotiated transactions, block trades, accelerated share-repurchase transactions and approved insider trades, or some combination thereof.
Executives said the new authorization reflects the board's confidence in the company's strategy and the strength of its cash-flow generation.
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08-27-24 1736ET
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