Sally Beauty Holdings, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Sally Beauty Holdings, Inc. filed its Q1 2024 10-Q report, detailing financial performance and operational segments for the quarter ending December 31, 2023.</b>

AI Summary

Sally Beauty Holdings, Inc. (SBH) filed a Quarterly Report (10-Q) with the SEC on February 1, 2024. Sally Beauty Holdings, Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the fiscal quarter from October 1, 2023, to December 31, 2023. Key segments mentioned include Beauty Systems Group and Sally Beauty Supply. Product categories like Styling Tools and Supplies, Nail, and Hair Color are noted. The company's fiscal year ends on September 30.

Why It Matters

For investors and stakeholders tracking Sally Beauty Holdings, Inc., this filing contains several important signals. This 10-Q filing provides investors with a detailed look at Sally Beauty's financial health and operational performance during the first quarter of fiscal year 2024. Understanding the performance of specific segments like Beauty Systems Group and Sally Beauty Supply, as well as product categories, is crucial for assessing the company's strategic direction and market position.

Risk Assessment

Risk Level: medium — Sally Beauty Holdings, Inc. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and does not indicate significant positive or negative events, placing its risk level at medium.

Analyst Insight

Review the detailed segment performance and product category sales within the 10-Q to identify any emerging trends or shifts in consumer demand.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Period End Date (Conformed period of report)
• 2024-02-01 — Filing Date (Filed as of date)
• 0930 — Fiscal Year End (Fiscal year end)
• 2023-10-01 — Quarter Start Date (Reporting period for Q1 2024)
• 2023-12-31 — Quarter End Date (Reporting period for Q1 2024)

Key Players & Entities

• Sally Beauty Holdings, Inc. (company) — Filer name
• 2023-12-31 (date) — Conformed period of report
• 2024-02-01 (date) — Filed as of date
• 0001368458 (company) — Central Index Key
• 5990 (industry) — Standard Industrial Classification
• 3001 COLORADO BOULEVARD (address) — Business Address Street 1
• DENTON (location) — Business Address City
• TX (location) — Business Address State

FAQ

Risk Factors

• Product Concentration Risk [medium — market]: The company faces risks related to concentration in specific product categories such as Hair Color, Nail, and Styling Tools & Supplies, particularly within its Beauty Systems Group and Sally Beauty Supply segments.

Key Dates

• 2023-12-31: Quarter End Date — End of the reporting period for the 10-Q filing.

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value SBH The New York Stock Ex

Filing Documents

• sbh-20231231.htm (10-Q) — 1270KB
• sbh-ex22.htm (EX-22) — 15KB
• sbh-ex31_1.htm (EX-31.1) — 16KB
• sbh-ex31_2.htm (EX-31.2) — 16KB
• sbh-ex32_1.htm (EX-32.1) — 9KB
• sbh-ex32_2.htm (EX-32.2) — 9KB
• 0000950170-24-009857.txt (&nbsp;) — 5610KB
• sbh-20231231.xsd (EX-101.SCH) — 852KB
• sbh-20231231_htm.xml (XML) — 918KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 4 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Earnings 5 Condensed Consolidated Statements of Comprehensive Income 6 Condensed Consolidated Statements of Stockholders' Equity 7 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 16

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 21

Controls and Procedures

Item 4. Controls and Procedures 21

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 22

Risk Factors

Item 1A. Risk Factors 22

Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities. 22

Other Information

Item 5. Other Information 22

Exhibits

Item 6. Exhibits 23 2 In this Quarterly Report, references to "the Company," "Sally Beauty," "our company," "we," "our," "ours" and "us" refer to Sally Beauty Holdings, Inc. and its consolidated subsidiaries unless otherwise indicated or the context otherwise requires. cautionary notice regarding forward-looking statements Readers are cautioned not to place undue reliance on forward-looking statements as such statements speak only as of the date they were made and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. The most important factors which could cause our actual results to differ from our forward-looking statements are set forth in our description of risk factors in Item 1A contained in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023, which should be read in conjunction with the forward-looking statements in this report. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update any forward-looking statement. The events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than we have described. As a result, our actual results may differ materially from the results con

— FINANCI AL INFORMATION

PART I — FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements. SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES Condensed Consolidated Ba lance Sheets (In thousands, except par value data) December 31, 2023 September 30, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 120,999 $ 123,001 Trade accounts receivable, net 32,164 33,421 Accounts receivable, other 46,325 42,454 Inventory 1,007,628 975,218 Other current assets 55,748 53,903 Total current assets 1,262,864 1,227,997 Property and equipment, net of accumulated depreciation of $ 811,658 at December 31, 2023, and $ 780,212 at September 30, 2023 284,899 297,779 Operating lease assets 551,639 570,657 Goodwill 536,686 533,081 Intangible assets, excluding goodwill, net of accumulated amortization of $ 32,121 at December 31, 2023, and $ 30,587 at September 30, 2023 55,186 55,171 Other assets 40,112 40,565 Total assets $ 2,731,386 $ 2,725,250 Liabilities and Stockholders' Equity Current liabilities: Current maturities of long-term debt $ 4,168 $ 4,173 Accounts payable 267,479 258,884 Accrued liabilities 139,573 163,366 Current operating lease liabilities 147,069 150,479 Income taxes payable 14,780 2,355 Total current liabilities 573,069 579,257 Long-term debt 1,065,299 1,065,811 Long-term operating lease liabilities 438,928 455,071 Other liabilities 22,465 23,139 Deferred income tax liabilities, net 90,285 93,224 Total liabilities 2,190,046 2,216,502 Stockholders' equity: Common stock, $ 0.01 par value. Authorized 500,000 shares; 104,857 and 106,266 shares issued and shares outstanding at December 31, 2023, and September 30, 2023, respectively 1,049 1,063 Preferred stock, $ 0.01 par value. Authorized 50,000 shares; no ne issued — — Additional paid-in capital — 5,677 Accumulated earnings 652,247 624,772 Accumulated other comprehensive loss, n

View Full Filing

View this 10-Q filing on SEC EDGAR