SBH -.12 to 10.95 looks oversold. I've owned the stock for a long time and regret not trimming some shares in Feb when it got over $18. Recently I've been adding shares. June Q3 looked decent as was the guidance. It's always been a low PE stock, but it' rarely been at 5.8 which is where it is now based on FY23 estimates.
briefing 8/3 -
Sally Beauty reports EPS in-line, misses on revs; Q3 comps +0.6%; provides FY23 guidance (11.85 ) :
Reports Q3 (Jun) earnings of $0.49 per share, excluding non-recurring items, in-line with the FactSet Consensus of $0.49; revenues fell 3.2% year/year to $931.1 mln vs the $945.42 mln FactSet Consensus.
Consolidated comparable sales increased 0.6%, driven primarily by Sally Beauty's strong sales recapture rates from the Company's recent store optimization efforts, mostly offset by the continuation of stylist demand trends seen over the last several quarters at Beauty Systems Group.
FY23 guidance: The Company is updating its full fiscal year 2023 guidance by revising its Adjusted Operating Margin to the higher end of the original guidance. All other components of the Company's full fiscal year 2023 original guidance are being maintained: Comparable sales are expected to increase by low single digits compared to the prior year, driven by growth in key categories, sales transfer from store closures related to the Company's store optimization efforts, the expanded Regis distribution and new strategic initiatives; Net sales are expected to decline by low-single digits compared to the prior year, reflecting the unfavorable impact due to store closures from the Company's store optimization efforts, net of expected sales recapture rates; Gross margin is expected to remain above 50%; and Adjusted Operating Margin is now expected to be in the range of 9.0% and 9.4% (previously 8.5% to 9.5%).
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