Shares of Sally Beauty Holdings, Inc. (SBH), a specialty retailer and distributor of professional beauty supplies, are climbing more than 14% Tuesday morning despite reporting fourth-quarter results below analysts' view.
Net earnings in the fourth quarter increased to $42.6 million, or $0.39 per share from $21.3 million, or $0.20 per share last year, primarily due to restructuring charges of $26.43 million in the year-ago quarter. In the latest quarter, the company had a gain of 872,000 on restructuring.
Adjusted earnings, excluding one-time items, were $45.7 million or $0.42 per share, that missed the average estimate of analysts polled by Thomson-Reuters of $0.46 per share.
Sales for the quarter was $921 million, a decrease of 4.3%. The consensus estimate was for $930.47 million.
SBH, currently at $9.27, has traded in the range of $7.21 - $18.42 in the last 1 year.
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