Denton-Based Sally Beauty Reports Strong Third Quarter Earnings

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NBC 5 News

Sally Beauty Holdings Inc. (SBH) on Thursday reported fiscal third-quarter net income of $76.2 million, after reporting a loss in the same period a year earlier.

The Denton, Texas-based company said it had profit of 66 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, were 68 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The beauty products seller posted revenue of $1.02 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $985.2 million.

Sally Beauty shares have risen 69% since the beginning of the year. The stock has risen 69% in the last 12 months.

Copyright AP - Associated Press
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