SBH +1.12 to 9.25, I was able to add shares at $7.95 early in the pre-market .... this was just a slight miss, but the stock is down nearly 50% from its 52wk high even after this morning's rally. I did not expect them to meet estimates nor did the market. It looks like a recession is becoming less likely and that will boost consumer spending next year. Their guidance may prove to be conservative.
I think fair value is around $12 and will be holding ..... jmho.
Sally Beauty misses by $0.04, misses on revs; guides FY24 revs below consensus (8.13 ) :
Reports Q4 (Sep) earnings of $0.42 per share, excluding non-recurring items, $0.04 worse than the FactSet Consensus of $0.46; revenues fell 5.2% year/year to $912.4 mln vs the $930.48 mln FactSet Consensus.
Consolidated comparable sales declined 1.6%, driven primarily by lower traffic and inflationary pressures that continued to impact consumer behavior at Sally Beauty and the continuation of stylist demand trends seen over the last several quarters at Beauty Systems Group.
Co issues downside guidance for FY24, sees FY24 revs of approx flat yr/yr or ~$3.73 bln vs. $3.79 bln FactSet Consensus.
Net sales and comparable sales are expected to be approximately flat compared to the prior year, reflecting growth from the Company's strategic initiatives, offset by anticipated pressure on consumer spending.
