Sally Beauty Holdings (SBH) Tops Q2 EPS by 4c; Maintains Outlook

Sally Beauty Holdings (NYSE: SBH) reported Q2 EPS of $0.41, $0.04 better than the analyst estimate of $0.37. Revenue for the quarter came in at $919 million versus the consensus estimate of $888.76 million.

GUIDANCE:

The Company is maintaining guidance for full fiscal year 2023:

• Comparable sales, notwithstanding a notable change in consumer behavior, are expected to increase by low single digits compared to the prior year, driven by growth in key categories, sales transfer from store closures related to the Company’s store optimization efforts, the expanded Regis distribution and new strategic initiatives;
• Net sales are expected to decline by low-single digits compared to the prior year, reflecting the unfavorable impact due to store closures from the Company’s store optimization efforts, net of expected sales recapture rates, and the anticipated unfavorable impact from foreign exchange headwinds;
• Gross margin is expected to remain above 50%; and
• Adjusted Operating Margin is expected to be in the range of 8.5% and 9.5%, inclusive of investment in store labor as the Company focuses on elevating the expertise of its associates to drive growth in the coming years.

For earnings history and earnings-related data on Sally Beauty Holdings (SBH) click here.

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