Regis posts Q1 net income $1.2M (first positive in 5 years); launches strategic alternatives review

REGIS CORP

2024-Q1 EPS reported $0.03 vs consensus -$1.29 ▲ beat (+102.3%)

Net income from continuing operations of $1.2M ($0.03 diluted EPS) vs loss of $1.8M (-$0.04) YoY; first positive since fiscal 2018.
Adjusted EBITDA improved to $7.5M from $3.8M; consolidated revenue $53.4M vs $61.9M on salon wind-downs.
Board forms special committee to evaluate strategic alternatives for capital structure; Jefferies and Weil retained.
Net debt ~$190M; cash $9.3M, total liquidity $42.4M; company not in default and proactively addressing balance sheet.
System-wide same-store sales up 1.8%; franchise adjusted EBITDA $8.0M vs $5.0M YoY.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

REGIS CORP reported the first fiscal quarter ended September 30, 2023 results: revenue $53.4 million, net income $1.2 million, EPS $0.03 diluted income per share.

Period: the first fiscal quarter ended September 30, 2023
Revenue: $53.4 million
Net income: $1.2 million
EPS: $0.03 diluted income per share
Result: reported results

Exact text from the filing

See GAAP to non-GAAP reconciliations within the attached section titled "Non-GAAP Reconciliations." Consolidated Revenue Total consolidated revenue in the first quarter 2024 of $53.4 million decreased $8.5 million. The decrease was driven primarily by a reduction in non-margin franchise rental income and the wind down of loss-generating company-owned salons that

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Source: SEC EDGAR

accession 0000716643-23-000042

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