Sally Beauty Q2 comp sales +5.7% but margins compress; EPS $0.37 GAAP, $0.41 adj.

Sally Beauty Holdings, Inc.

2023-Q2 EPS reported $0.83 revenue$1,875,767,000

Net sales $918.7M (+0.8% YoY), comp sales +5.7%; e-commerce +9% to $87M (9.5% of sales).
GAAP diluted EPS $0.37 vs $0.42 prior year; adjusted EPS $0.41 vs $0.47.
GAAP operating margin 7.8% vs 9.5% prior year; adjusted margin 8.3% vs 9.9%.
Refinanced $406M term loan into new $400M term loan due 2030 (SOFR+250bps); also entered $200M interest rate swap at 3.705%.
Maintains FY2023 guidance: comp sales low-single-digit increase, gross margin >50%, adj. operating margin 8.5%-9.5%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sally Beauty Holdings, Inc. reported second quarter ended March 31, 2023 results: revenue Consolidated net sales of $919 million, EPS GAAP diluted net earnings per share of $0.37. Guidance reaffirmed.

Period: second quarter ended March 31, 2023
Revenue: Consolidated net sales of $919 million
EPS: GAAP diluted net earnings per share of $0.37
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Fiscal 2023 Second Quarter Summary • Consolidated net sales of $919 million, an increase of 0.8% compared to the prior year; • Consolidated comparable sales increased 5.7%; • Global e-commerce sales increased 9% to $87 million, representing 9.5% of net sales; • GAAP gross margin at 51.0%; Adjusted Gross Margin at 50.7%; • GAAP operating earnings of $71 million and GAAP operating margin of 7.8%; Adjusted Operating Earnings of $76 million and Adjusted Operating Margin of 8.3%; and • GAAP diluted net earnings per share of $0.37 and Adjusted Diluted Net Earnings Per Share of $0.41.

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Source: SEC EDGAR

accession 0001564590-23-006980

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