In August, E.l.f. Beauty took a $1 price increase across all E.l.f. SKUs as a response to tariffs and inflation. Announced today, this caused unit sales to drop dramatically, and CEO Tarang Amin is now testing price cuts.

e.l.f. Beauty stock drops ahead of Q4 earnings. Will the cosmetic giant beat Wall Street estimates again despite its current downtrend?

E.l.f. Beauty raised prices by $1 last August to offset the impact of tariffs. It's now planning to walk back some of that amid a consumer pullback.