Sally Beauty Holdings Adds 7% On Upbeat Q1 Earnings

(RTTNews) - Shares of professional beauty products retailer, Sally Beauty Holdings, Inc. (SBH) are rising more than 7% Wednesday morning after reporting better-than-expected first-quarter earnings.

Net earnings in the first quarter were $68.8 million, or $0.60 per share, compared to $57.2 million, or $0.50 per share in the prior year.

Excluding one-time items, adjusted earnings were $71.8 million, or $0.63 per share, that beat the average estimate of analysts surveyed by Thomson Reuters at $0.6 per share.

Consolidated net sales increased 4.7% year-over-year to $980.3 million. The consensus estimate stood at $993.34 million.

Looking forward, the company has reaffirmed it full-year sales growth outlook of 3% -4%. Analysts expect revenue growth of 3.1% for the year.

SBH is at $18.69 currently. It has traded in the range of $14.06- $25.66 in the past 52 weeks.