Regis Corporation (NYSE: RGS) reported Q3 EPS of $0.37, $0.24 better than the analyst estimate of $0.13. Revenue for the quarter came in at $437.55 million versus the consensus estimate of $269.65 million.

• The Company Recorded The Profitable Sale And Conversion Of An Additional 245 Company Owned Salons To Its Asset-Light Franchise Portfolio During The Quarter; Year-To-Date, The Company Has Profitably Sold And Converted 502 Company Owned Salons To Its Franchise Portfolio
• Third Quarter EBITDA Loss Of $1.4 Million Is $6.4 Million Unfavorable Year-Over-Year Including Gains From The Sale of Salons To Franchisees And A $20.7 Million Non-Cash Restructuring Charge; Year-To-Date EBITDA Of $25.3 Million Is $43.9 Million, Or 236.4% Favorable Year-Over-Year Including Gains From The Sale Of Salons To Franchisees And A Non-Cash Restructuring Charge
• Third Quarter Adjusted EBITDA Of $37.2 Million Is $18.0 Million, Or 93.7% Favorable Year-Over-Year Including Gains From The Sale Of Salons To Franchisees; Year-To-Date Adjusted EBITDA Of $82.9 Million Is $24.8 Million, Or 42.7% Favorable Year-Over-Year Including Gains From The Sale Of Salons To Franchisees
• The Company Repurchased 2.1M Shares, Or Approximately 5% Of Its Total Common Stock In The Quarter

Hugh Sawyer, President and Chief Executive Officer, commented, "We remain focused on the ongoing transformation of our business and maximizing shareholder value. Among other items, this includes initiatives underway in technology, marketing and advertising, merchandise, data science, stylist recruiting and training, real estate and new capabilities to establish frictionless relationships with customers and franchisees. As in prior quarters, the gains generated from the sale and conversion of our company-owned salons met our financial objectives for these transactions” Mr. Sawyer added, “Given our success, we expect to consider additional opportunities to franchise company-owned salons in circumstances where we believe it will add to shareholder value and support an evolving strategy for our business."

For earnings history and earnings-related data on Regis Corporation (RGS) click here.