Olaplex Inc (OLPX) PT Lowered to $11 at Telsey
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Olaplex (OLPX) Crashes 40% on Negative Preannouncement, Multiple Downgrades
October 19, 2022 6:14 AM EDTShares of Olaplex (NASDAQ: OLPLX) are down over 40% after the company cut its full-year forecasts to reflect slowing sales.
Olaplex reported preliminary Q3 results that see net sales coming at $176.5 million, lower than the consensus of $207.2 million. Adjusted Ebitda is expected between $100 million and $102 million while preliminary adjusted net income was reported at $71.3 million to $73.3 million, much lower than the $91.9 million expected.
On the guidance front, Olaplex now sees full-year revenue between $704 million and $711 million, a cut to the prior guidance of $796 million to $826 million, and lower than the consensus of... More
