-=Sally Beauty (SBH) reported earnings on Thur 8 Nov 2018 (b/o)

Sally Beauty beats by $0.03, reports revs in-line; sees FY 19 EPS in-line 

• Reports Q4 (Sep) earnings of $0.51 per share, excluding non-recurring items, $0.03 better thanthe S&P Capital IQ Consensus of $0.48; revenues fell 0.8% year/year to $966 mln vs the $965.98 mln S&P Capital IQ Consensus. Consolidated same store sales decreased 0.2% in the quarter.
  • Adjusted operating earnings and operating margin (excluding charges related to the Company's transformation efforts in both years) were $112.2 million and 11.6%, respectively, compared to $120.2 million and 12.3%, respectively, in the prior year.

Fiscal Year 2019 Guidance

• The Company expects full year consolidated same store sales to be approximately flat.
• Full year gross margin is expected to be approximately flat compared to the prior year.
• Full year adjusted operating earnings and operating margin are expected to decline slightly as compared to the prior year, driven primarily by an improvement in same store sales offset by the slightly higher adjusted selling, general and administrative expenses referred to above.
  •  Current estimate is for FY 19 adj. EPS of $2.11 

SBH — NR

Sally Beauty (SBH) reported earnings on Thur 2 Feb 2017 (b/o)

** charts before earnings **

 

** charts after earnings **

 

Sally Beauty misses by $0.06, misses on revs; tempers 2017 revenue and gross margin guidance :

• Reports Q1 (Dec) earnings of $0.39 per share, $0.06 worse than the Capital IQ Consensus of $0.45; revenues rose 0.2% year/year to $999.6 mln vs the $1015.34 mln Capital IQ Consensus.
  • Gross margin for the quarter was 49.2%, a decline of 30 basis points from the prior year's first quarter due to unfavorable product and customer mix shift, lower vendor allowances and higher promotions than the prior year.
• Revised 2017 guidance:
  • The Company now expects full year same store sales in the range of flat to low-single-digit growth versus prior guidance of approximately 3%. Consensus calls for +2.5% revenue growth.
  • Net new store openings are expected to grow in the range of 2.0% to 3.0%, unchanged from prior guidance.
  • Full year consolidated gross margin is now expected to expand in the range of 20 to 30 basis points versus prior guidance of gross margin expansion in the range of 30 to 40 basis points.
  • Including the Restructuring Plan and other cost reduction initiatives, the Company now expects adjusted SG&A in the range of 34.1% to 34.4% of sales and adjusted operating income growth in the low-to-mid single digits in fiscal 2017.

Sally Beauty Holdings (SBH) — is it a buy?

• Day after bad earnings report. Is SBH a buy?

• 3 weeks later:

Sally Beauty (SBH) reported earnings on Tue 15 November 2016 (b/o)

** charts after earnings **

 

Sally Beauty misses by $0.01, misses on revs; offers FY17 outlook, new CFO named :

• Reports Q4 (Sep) earnings of $0.41 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $0.42; revenues rose 1.3% year/year to $976.36 mln vs the $989.05 mln Capital IQ Consensus.
  • The fiscal 2016 fourth quarter sales increase is primarily attributed to same store sales growth and the addition of new stores. The impact from unfavorable changes in foreign currency exchange rates in the fiscal 2016 fourth quarter was $12.7 million, or 1.3%. Consolidated same store sales growth in the fiscal 2016 fourth quarter was 1.2% compared to 3.5% in the fiscal 2015 fourth quarter.
• Fiscal Year 2017 Outlook
  • Consolidated same store sales growth for fiscal 2017 is expected to be approximately 3%.
  • Consolidated gross profit margin expansion is expected to be in the range of 30 bps to 40 bps.
  • Capital expenditures for fiscal year 2017 are projected to be under $135 million.
  • Consolidated organic store growth is expected to be in the range of 2.0% to 3.0%.
• Donald T. Grimes has been appointed as Senior Vice President, Chief Financial Officer (CFO) and Chief Operations Officer (COO) effective December 12, 2016. Don joins Sally Beauty Holdings from Neiman Marcus, a luxury retailer, where he was CFO and COO. 

Sally Beauty Holdings (SBH) — is it a buy?

• #2 

• 5 weeks later:  +15%

Sally Beauty Holdings (SBH) — is it a buy?

** charts after earnings this morning **

** charts 10 days later **

Sally Beauty Holdings (SBH) reported earnings Thur 12 Nov 2015 (before open)

** charts after earnings **

Sally Beauty misses by $0.01, reports revs in-line; guides FY16 :

• Reports Q4 (Sep) earnings of $0.38 per share, excluding non-recurring items,$0.01 worse than the Capital IQ Consensus of $0.39; revenues rose 2.1% year/year to $964.2 mln vs the $963.92 mln Capital IQ Consensus. 
  • Consolidated same store sales growth in the fiscal 2015 fourth quarter was 3.5% compared to 2.6% in the fiscal 2014 fourth quarter.
• Consolidated same store sales growth for fiscal 2016 is expected to be in the low 3% range. Sequential improvement is expected throughout the year in Sally with slower growth in BSG than the prior fiscal year as they anniversary a very strong year. Consolidated gross profit margin expansion is expected to be in the range of 35 bps to 45 bps; organic store growth ~3%.