NYSE$SBH

Sally Beauty Holdings Inc. · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Reported strong sales, gross margin, and profit growth despite pandemic disruptions.

Sally Beauty Holdings reported a 6.3% increase in consolidated net sales to $926.3 million, driven by improved consumer confidence and easing COVID-19 restrictions in the U.S. GAAP diluted EPS was $0.34, while adjusted diluted EPS reached $0.57. The company's strong performance was partially offset by international store closures and salon closures in California.

  • Consolidated same store sales increased by 6.5%, reflecting improved consumer confidence and easing COVID-19 restrictions.
  • Global e-commerce sales increased by 56%.
  • GAAP gross margin was 50.4%, up 110 basis points compared to the prior year.
  • GAAP diluted net earnings per share was $0.34 and Adjusted Diluted Net Earnings Per Share was $0.57, increased significantly compared to the prior year.

Headline financials

Total Revenue

$926M

Previous: $871M+6.3%
EPS (adj)

$0.57

Previous: $0.23+147.8%
Consolidated Comparable Sales Growth

6.5%

Previous: -7.1%+191.5%
Adjusted Operating Margin

12.1%

No prior period
Capital Expenditures

-$27.1M

Previous: -$72M+62.4%
Free Cash Flow

$11.2M

Previous: -$58.6M+119.1%
Net Income

$38.3M

Previous: $13.4M+186.6%
Operating Income

$75.5M

Previous: $43.3M+74.5%
Gross Profit

$467M

Previous: $430M+8.7%
Cash & Equivalents

$408M

Previous: $364M+12.0%
Total Assets

$2.91B

Previous: $2.92B-0.4%
Stock-Based Comp

$2.65M

Previous: $3.06M-13.4%

Revenue & EPS history

Sally Beauty · Revenue · Quarterly

$926M

Q2 2021+6.3%vs Q2 2020
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

Sally Beauty · $926M total across 2 segments · Q2 2021

  • Sally Beauty Supply
    $543M+4.5%
  • Beauty Systems Group
    $384M+9.1%

Forward guidance

The Company will provide perspective on its outlook for the third quarter during its earnings conference call. The Company will not be providing formal guidance at this time.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q2 2021

Historical avgQ2 2021

+0.9%

Avg return

Earnings day

+0.5%

Avg return

5 days after

+1.8%

Avg return

30 days after

53%

36 / 68 earnings

Positive

+24.8%

Q2 2021

Best reaction

-17.4%

Q1 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026-6.9%-15.2%-6.8%
Q1 2026+5.2%+1.0%-7.6%
Q4 2025-1.7%-0.2%+5.6%
Q2 2025+22.2%+12.2%+12.1%
Q1 2025+4.5%+2.0%-0.7%
Q4 2024+7.0%+4.4%-0.5%
Q3 2024+8.4%+19.4%+27.2%
Q2 2024-1.5%+5.5%+5.3%
Q1 2024+2.8%+5.0%+2.6%
Q4 2023+12.1%+14.8%+61.3%
Q3 2023-4.1%-1.6%-11.9%
Q2 2023-15.8%-18.7%-13.9%
Q1 2023+9.1%+8.5%-0.5%
Q4 2022+8.4%+1.8%-7.9%
Q3 2022-0.8%+0.7%+5.8%
Q2 2022-5.6%-10.9%-9.2%
Q1 2022-1.4%-2.6%-2.8%
Q4 2021+12.8%+14.3%+15.3%
Q3 2021-14.0%-13.0%-14.0%
Q2 2021+24.8%+17.0%-1.1%
Q1 2021-7.8%-2.3%+14.4%
Q4 2020-4.9%+3.2%+8.0%
Q3 2020-12.8%-8.8%-12.9%
Q2 2020+2.7%+6.0%+61.9%
Q1 2020-17.4%-16.8%-20.7%
Q4 2019+19.6%+19.9%+13.3%
Q3 2019+9.8%+7.9%-1.0%
Q2 2019-8.3%-6.6%-14.2%
Q1 2019-1.5%-3.3%-2.0%
Q4 2018+15.8%+10.4%+2.7%
Q3 2018-13.8%-13.2%-6.1%
Q2 2018-12.6%-11.6%-11.0%
Q1 2018+8.2%+8.2%+11.5%
Q4 2017-1.3%+1.4%+8.0%
Q3 2017+2.2%+3.6%-6.3%
Q2 2017+1.1%+3.9%-8.4%
Q1 2017-7.0%-5.2%-10.1%
Q4 2016-10.7%-10.0%-7.5%
Q3 2016-11.3%-11.4%-7.2%
Q2 2016-5.8%
Q1 2016+13.7%
Q4 2015+7.3%
Q3 2015-9.5%
Q2 2015+1.5%
Q1 2015+3.6%
Q4 2014+2.9%
Q3 2014+1.7%
Q2 2014-7.8%
Q1 2014+5.9%
Q4 2013-0.6%
Q3 2013-9.3%
Q2 2013+1.0%
Q1 2013+0.7%
Q4 2012-1.5%
Q3 2012+1.8%
Q2 2012-0.2%
Q4 2011+5.4%
Q1 2012-0.5%
Q3 2011+1.6%
Q2 2011+7.8%
Q1 2010+15.0%
Q1 2011+1.5%
Q4 2008+2.8%
Q2 2010+2.8%
Q4 2010+2.8%
Q3 2009-0.3%
Q3 2010-0.3%
Q4 2009-0.3%

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