By Katherine Hamilton
Sally Beauty Holdings shares were trading higher after the company's first-quarter revenue beat Wall Street's expectations and comparable sales swung to growth.
The stock gained 7% to $9.80 on Thursday. It has lost a third of its value over the past year.
The beauty supply company posted a first-quarter profit of $61.0 million, or 58 cents a share, in the three months ended Dec. 31, compared with $38.4 million, or 35 cents a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were 43 cents, in line with what analysts polled by FactSet had expected.
Revenue rose just under 1% to $937.9 million. Analysts surveyed by FactSet were forecasting revenue of $943.2 million.
Comparable sales grew 1.6% in the first quarter, swinging from a 0.8% decline the previous year.
Sally Beauty said it expects comparable sales to be flat in the second quarter and flat to up 2% in the full-year 2025. Analysts are expecting comparable sales to be up 1.4% in the second quarter and up 1.2% for the full year.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 13, 2025 12:55 ET (17:55 GMT)
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