Olaplex Holdings reports Q3 adjusted EPS 11c, consensus 10c

Reports Q3 revenue $176.5M, consensus $176.25M. CEO JuE Wong commented: "Our Q3 performance was in line with the preliminary estimates provided in our business update in October 2022. In response to the moderating sales growth trends, we are taking actions that we believe will strengthen our forecasting capabilities and accelerate demand for Olaplex products. The successful execution of these initiatives is expected to drive new customer acquisition and maintain our strong customer retention rates. More broadly, we believe that the fundamental competitive advantages of our business remain intact and that we are well-positioned to capitalize on a broad and exciting range of future growth opportunities."