$SBH
Sally Beauty Holdings, Inc.

2024 Q1 Form 10-Q Financial Statement

#000095017024009857 Filed on February 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2022 Q4
Revenue $908.4M $931.3M $957.1M
YoY Change -1.13% -2.69% -2.37%
Cost Of Revenue $445.3M $464.1M $468.5M
YoY Change -1.13% -0.93% -2.42%
Gross Profit $463.1M $467.2M $488.6M
YoY Change -1.12% -4.38% -2.31%
Gross Profit Margin 50.98% 50.16% 51.05%
Selling, General & Admin $403.4M $398.1M $391.6M
YoY Change 3.54% 1.67% 1.38%
% of Gross Profit 87.12% 85.22% 80.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.95M $28.06M $25.29M
YoY Change 7.55% 10.99% 3.54%
% of Gross Profit 5.82% 6.01% 5.18%
Operating Expenses $403.4M $398.1M $391.6M
YoY Change 3.54% 1.67% 1.38%
Operating Profit $59.57M $69.04M $86.59M
YoY Change -16.57% -20.27% -23.22%
Interest Expense $20.52M -$17.31M $17.92M
YoY Change 23.0% -196.6% -188.55%
% of Operating Profit 34.45% -25.08% 20.7%
Other Income/Expense, Net
YoY Change
Pretax Income $39.05M $51.81M $68.67M
YoY Change -28.64% -24.55% -25.8%
Income Tax $9.807M $13.42M $18.33M
% Of Pretax Income 25.11% 25.9% 26.69%
Net Earnings $29.24M $38.39M $50.34M
YoY Change -28.43% -23.73% -26.88%
Net Earnings / Revenue 3.22% 4.12% 5.26%
Basic Earnings Per Share $0.28 $0.36 $0.47
Diluted Earnings Per Share $0.27 $0.35 $0.46
COMMON SHARES
Basic Shares Outstanding 104.9M 106.3M 107.0M
Diluted Shares Outstanding 107.1M 108.7M 109.5M

Balance Sheet

Concept 2024 Q1 2023 Q4 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $97.17M $121.0M $99.07M
YoY Change 57.7% 22.13% -66.77%
Cash & Equivalents $97.17M $121.0M $99.07M
Short-Term Investments
Other Short-Term Assets $55.84M $55.75M $57.84M
YoY Change 16.15% -3.62% 27.41%
Inventory $1.040B $1.008B $986.9M
Prepaid Expenses
Receivables $34.69M $32.16M $32.67M
Other Receivables $52.87M $46.33M $42.74M
Total Short-Term Assets $1.280B $1.263B $1.219B
YoY Change 5.9% 3.58% -13.87%
LONG-TERM ASSETS
Property, Plant & Equipment $273.2M $836.5M $288.7M
YoY Change -3.59% 189.73% -65.02%
Goodwill $534.5M $536.7M $532.5M
YoY Change 0.05% 0.78%
Intangibles $54.09M $55.19M $50.96M
YoY Change 7.04% 8.29%
Long-Term Investments
YoY Change
Other Assets $41.69M $40.11M $34.33M
YoY Change 16.92% 16.84% 69.27%
Total Long-Term Assets $1.466B $1.469B $1.449B
YoY Change 0.01% 1.32% 0.62%
TOTAL ASSETS
Total Short-Term Assets $1.280B $1.263B $1.219B
Total Long-Term Assets $1.466B $1.469B $1.449B
Total Assets $2.747B $2.731B $2.669B
YoY Change 2.67% 2.35% -6.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $289.6M $267.5M $296.2M
YoY Change 9.25% -9.69% -14.48%
Accrued Expenses $150.0M $266.2M $142.8M
YoY Change -10.81% 86.45% -6.02%
Deferred Revenue $12.74M $15.59M $15.26M
YoY Change -11.63% 2.15% -20.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $66.16M $4.168M $65.17M
YoY Change 73.32% -93.6% 35319.02%
Total Short-Term Liabilities $643.8M $573.1M $677.3M
YoY Change 2.08% -15.38% -0.66%
LONG-TERM LIABILITIES
Long-Term Debt $978.4M $1.065B $1.082B
YoY Change -8.17% -1.56% -21.69%
Other Long-Term Liabilities $21.63M $461.4M $22.75M
YoY Change -1.9% 1928.28% -94.63%
Total Long-Term Liabilities $21.63M $1.527B $22.75M
YoY Change -1.9% 6611.32% -98.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $643.8M $573.1M $677.3M
Total Long-Term Liabilities $21.63M $1.527B $22.75M
Total Liabilities $2.196B $2.190B $2.295B
YoY Change -2.38% -4.58% -10.86%
SHAREHOLDERS EQUITY
Retained Earnings $666.6M $652.2M $490.5M
YoY Change 25.46% 32.97%
Common Stock $1.035M $1.049M $9.402M
YoY Change -93.04% -88.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $550.9M $541.3M $373.3M
YoY Change
Total Liabilities & Shareholders Equity $2.747B $2.731B $2.669B
YoY Change 2.67% 2.35% -6.56%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2022 Q4
OPERATING ACTIVITIES
Net Income $29.24M $38.39M $50.34M
YoY Change -28.43% -23.73% -26.88%
Depreciation, Depletion And Amortization $26.95M $28.06M $25.29M
YoY Change 7.55% 10.99% 3.54%
Cash From Operating Activities $36.94M $51.02M $54.95M
YoY Change 49.57% -7.15% -1066.6%
INVESTING ACTIVITIES
Capital Expenditures $14.11M $30.55M $25.01M
YoY Change -17.85% 22.17% -5.24%
Acquisitions $218.0K
YoY Change
Other Investing Activities $0.00 -$218.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$14.11M -$30.77M -$25.01M
YoY Change -17.85% 23.04% -6.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $68.05M $233.9M
YoY Change -70.91% 16362.14%
Cash From Financing Activities -46.16M -22.78M -5.992M
YoY Change 6.73% 280.11% -91.46%
NET CHANGE
Cash From Operating Activities 36.94M 51.02M 54.95M
Cash From Investing Activities -14.11M -30.77M -25.01M
Cash From Financing Activities -46.16M -22.78M -5.992M
Net Change In Cash -23.32M -2.525M 28.51M
YoY Change -34.71% -108.86% -127.8%
FREE CASH FLOW
Cash From Operating Activities $36.94M $51.02M $54.95M
Capital Expenditures $14.11M $30.55M $25.01M
Free Cash Flow $22.83M $20.47M $29.94M
YoY Change 203.5% -31.64% -193.36%

Facts In Submission

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<span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates </span><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In order to present our financial statements in conformity with GAAP, we are required to make certain estimates and assumptions that impact our interim financial statements and supplementary disclosures. These estimates may use forecasted financial information based on reasonable information available, however are subject to change in the future. Significant estimates and assumptions are part of our accounting for sales allowances, deferred revenue, valuation of inventory, amortization and depreciation, intangibles and goodwill, and other reserves. We believe these estimates and assumptions are reasonable; however, they are based on management’s current knowledge of events and actions, and changes in facts and circumstances may result in revised estimates and impact actual results.</span></p>
CY2023Q4 us-gaap Amortization Of Intangible Assets
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1008000
CY2023Q4 us-gaap Goodwill Foreign Currency Translation Gain Loss
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CY2023Q4 us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
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CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q4 us-gaap Goodwill Impairment Loss
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CY2023Q4 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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CY2023Q4 us-gaap Interest Payable Current
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CY2023Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
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CY2023Q4 us-gaap Other Accrued Liabilities Current
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CY2023Q4 us-gaap Derivative Number Of Instruments Held
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CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q4 us-gaap Operating Income Loss
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CY2023Q4 us-gaap Interest Income Expense Nonoperating Net
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CY2022Q4 us-gaap Interest Income Expense Nonoperating Net
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CY2023Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2022Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2023Q4 ecd Rule10b51 Arr Adopted Flag
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CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
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CY2023Q4 sbh Rule10 B51 Arr Modified Flag
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CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
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CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
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