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Sally Beauty Holdings Inc. has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in net sales to $937.9 million from $931.3 million in the same quarter the previous year. This increase is attributed to a rise in comparable sales and expanded distribution.
Gross profit for the quarter was $476.8 million, up from $467.2 million in the previous year, with the increase driven by higher product margins and supply chain efficiencies.
Operating earnings increased to $100.3 million from $69.1 million, reflecting improved gross margins and a gain from the sale of the corporate headquarters.
Net earnings for the quarter were $61.0 million, up from $38.4 million in the previous year. Diluted earnings per share increased to $0.58 from $0.35.
Cash provided by operating activities was $33.5 million, compared to $51.0 million in the previous year, with the decrease due to timing of accounts payable and tax payments.
The company reported a sale of its corporate headquarters for $45.5 million, recognizing a gain of $26.6 million.
Sally Beauty repurchased 0.8 million shares of its common stock for $10.0 million during the quarter under its share repurchase program.
The company had $588.2 million of available liquidity as of December 31, 2024, including cash and cash equivalents and available borrowing under its ABL facility.
Sally Beauty's effective tax rate for the quarter was 26.4%, up from 25.9% in the previous year, primarily due to foreign operations.
The filing also discusses recent accounting pronouncements and their potential impact on the company's financial statements.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Sally Beauty Holdings Inc. (Name to be changed from Holdings Inc.) quarterly 10-Q report dated February 13, 2025. To report an error, please email earnings@qz.com.