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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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