Sally Beauty Holdings, Inc. (SBH) Misses Q1 EPS by 3c; Announces CEO Transition

Sally Beauty Holdings, Inc. (NYSE: SBH) reported Q1 EPS of $0.35, $0.03 worse than the analyst estimate of $0.38. Revenue for the quarter came in at $964.5 million versus the consensus estimate of $975.31 million.

1Q15 same store sales growth of 2.3% versus 2.2% in 1Q14.

The company also announced that President and Chief Operating Officer Chris Brickman succeeded Gary Winterhalter as Chief Executive Officer effective on February 1, 2015. Mr. Winterhalter will continue to serve the company as Executive Chairman of the Board of Directors. These changes are consistent with the Company’s previously-announced executive transition plan.

“The Board and I are very pleased to have an outstanding candidate such as Chris step into the CEO role,” said Robert McMaster, Lead Independent Director of the Company’s Board. “Chris is a passionate leader with an exceptional track record of success throughout his career. We are confident he will add tremendous value and drive continued growth and development for the organization. The Board is very grateful to Gary Winterhalter for his leadership as CEO and his commitment to the Company’s success. We are pleased that he will continue to play a key role with the Company.”

Mr. Winterhalter served as the Company’s CEO since its separation from The Alberto-Culver Company in 2006. Under his leadership, sales grew from $2.4 billion to $3.8 billion, adjusted EBITDA more than doubled and the stock price quadrupled.

“This transition is timely as the Company is doing well and we have a successor in place,” said Gary Winterhalter, Executive Chairman of the Company’s Board. “Sally Beauty is well positioned for continued growth, and I am confident that Chris and his management team can take the Company to the next level. I am extremely proud of our employees, and tremendously grateful to our suppliers and customers, who all have helped make Sally Beauty Holdings successful. I look forward to working with Chris and the Board of Directors in my role as Executive Chairman.”

Mr. Brickman has been a member of the Sally Beauty Holdings Board of Directors since September 2012 and has served as the Company’s President and COO since June 2, 2014. Before joining the Company, he was President of Kimberly-Clark International.

“I am honored to take the helm of this great Company,” said Chris Brickman, CEO and President of Sally Beauty Holdings. “I hope to build on the strong foundation that Gary developed during his long career at the Company. I assure you that the Company’s priority will remain focused on the execution of our strategic initiatives to drive long-term shareholder value. I am very grateful to Gary for his guidance during the recent transition period and for his ongoing leadership role at the Company.”

For earnings history and earnings-related data on Sally Beauty Holdings, Inc. (SBH) click here.

You May Also Be Interested In

• Bristol-Myers Squibb (BMY) stock slips despite earnings beat
• IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
• Ladder Capital (LADR) Tops Q1 EPS by 4c