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Dec 31, 2023
Sally Beauty Q1 2024 Earnings Report
Sally Beauty Holdings reported a decrease in consolidated net sales and comparable sales, while maintaining full-year fiscal 2024 guidance.
Key Takeaways
Sally Beauty Holdings reported first quarter fiscal 2024 results, with consolidated net sales of $931 million, a decrease of 2.7% compared to the prior year. The company generated $51 million in cash flow from operations and executed $20 million in share repurchases. The company maintains its full year fiscal 2024 guidance.
Consolidated net sales decreased by 2.7% to $931 million.
Consolidated comparable sales declined by 0.8%.
Global e-commerce sales reached $91 million, representing 9.8% of net sales.
GAAP diluted net earnings per share were $0.35, and Adjusted Diluted Net Earnings Per Share was $0.39.
Sally Beauty
Sally Beauty
Sally Beauty Revenue by Segment
Revenue by Segment
Sally Beauty Supply Revenue
CapyFin.comBeauty Systems Group Revenue
CapyFin.com Forward Guidance
The Company is maintaining the following guidance for the full fiscal year 2024:
Positive Outlook
- Net sales and comparable sales are expected to be approximately flat compared to the prior year, reflecting growth from the Company’s strategic initiatives
- Gross Margin is expected to remain above 50%
- Adjusted Operating Margin is expected to be at least 9.0%
- Operating Cash Flow is expected to be at least $260 million
- Capital expenditures are expected to be approximately $100 million
Challenges Ahead
- Anticipated pressure on consumer spending
Revenue & Expenses
Visualization of income flow from segment revenue to net income