。
She's as beautiful as ever.
Literal
She [topic-は] as-usual is-beautiful.
The phrase 相変わらず美しい ('beautiful as ever') is a stock compliment for someone whose beauty hasn't faded with time — common in reunions or after long absences. 相変わらず ('as usual, as ever') marks the persistence of the quality across time. 美しい has a slightly poetic / literary register; in casual speech きれい would be more common, with a softer everyday flavor.