Sally Beauty Holdings (NYSE: SBH) reported Q1 EPS of $0.68, which may not compare to the analyst estimate of $0.42. Revenue for the quarter came in at $995 million versus the consensus estimate of $991.35 million.

Reported diluted earnings per share in the first quarter were $0.65 compared to $0.39 in the prior year, an increase of 66.7%, driven primarily by lower income tax expense as a result of significant changes to U.S. federal tax law (“U.S. Tax Reform”), reduced share count from share repurchases and lower interest expense resulting from the Company’s debt refinancing in the fiscal fourth quarter of the prior year, partially offset by charges from the restructuring plan announced this past November (“2018 Restructuring Plan”). Adjusted diluted earnings per share, excluding $5.2 million in charges related to the 2018 Restructuring Plan, were $0.68 in the first quarter compared to $0.39 in the prior year, an increase of 74.4%. The net benefit from U.S. Tax Reform boosted both reported and adjusted diluted earnings per share by approximately $0.24, of which $0.17 per share was attributed to the net impact of one-time adjustments (the revaluation of deferred income taxes partially offset by a deemed repatriation tax on previously undistributed foreign earnings) and $0.07 per share was attributed to the application of the lower statutory federal tax rate to the Company’s pretax income.

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