Key Takeaways:Ulta Beauty’s third-quarter results exceeded expectations, with net sales increasing 12.9% to $2.9 billion.Shares jumped in after-hours trading after the retailer posted a clean beat on earnings and revenue.The beauty retailer raised its full-year sales outlook for the second consecutive quarter.Ulta Beauty is firing on all cylinders. The beauty retailer recently delivered one of its strongest quarters in recent years, posting net sales of $2.9 billion, up 12.9% year over year and comfortably ahead of expectations. The market responded quickly, sending shares up roughly 5%–6% in after-hours trading. The retailer also raised its full-year guidance again, now projecting approximately $12.3 billion in sales, which is up from its prior range of $12.0–$12.1 billion and higher than last year’s $11.3 billion.In the earnings call announcing the favorable results, Ulta Beauty executives struck an optimistic tone, pointing to momentum within the “Ulta Beauty Unleashed” strategy, which was launched earlier in the year to drive growth and regain market share in the competitive beauty retail landscape. Newness across the assortment, improved in-store and digital experiences, and more targeted marketing helped drive traffic, higher average tickets, and market-share gains.“As I reflect over the past 11 months in my role as CEO, I'm incredibly proud of the steps our teams have taken to accelerate our top-line growth and increase our market share, and how these actions continue to resonate with our guests and drive our results,” Ulta Beauty CEO Kecia Steelman said on the earnings call. “The third quarter highlights are a clear result of these actions.