Sally Beauty Holdings, Inc. (NYSE:SBH) stock has recovered from its selloff following the release of its fiscal fourth quarter earnings report.
Earnings per share reported by Sally Beauty Holdings, Inc. in its fiscal fourth quarter of the year was 45 cents. This is a up 9.8% from its earnings per share from the same time last year. However, this was still bad news for SBH stock as analysts were looking for earnings per share of 47 cents for the fiscal fourth quarter of the year.
Sally Beauty Holdings, Inc. partially attributes its decline in earnings per share for the fiscal fourth quarter to Hurricanes Harvey, Irma and Maria. It says that these hurricanes led to several store closures during the quarter. SBH notes that this resulted in earnings per share being hurt by 3 cents during the quarter.
During the fourth quarter of the year, Sally Beauty Holdings, Inc. reported revenue of $974.20 million. This is down from its revenue of $976.38 million in its fiscal fourth quarter of 2016. It also wasn’t able to reach Wall Street’s revenue estimate of $989.97 million for the quarter and this likely hurt SBH stock.
“Even after considering the challenges created by the natural disasters in the quarter, which impacted August and September, our revenue fell short of our expectations,” Chris Brickman, President and CEO of Sally Beauty Holdings, Inc., said in a statement.
SBH stock started the day off down 4%, but is now up slightly as of noon Wednesday. The stock is still down 40% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.