---
schema_version: "secwatch.filing_event.v1"
accession: "0001564590-23-006980"
form_type: "8-K"
ticker: "SBH"
cik: "0001368458"
company_name: "Sally Beauty Holdings, Inc."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T21:20:42.340200+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001564590-23-006980
- form_type: 8-K
- ticker: SBH
- cik: 0001368458
- company_name: Sally Beauty Holdings, Inc.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1368458/000156459023006980/0001564590-23-006980-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1368458/000156459023006980/sbh-8k_20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001564590-23-006980
- JSON: https://secwatch.observer/filing/0001564590-23-006980.json
- Plain text: https://secwatch.observer/filing/0001564590-23-006980.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1368458/000156459023006980/0001564590-23-006980-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.