Sally Beauty reports Q1 adjusted EPS 52c, consensus 48c

Reports Q1 revenue $957.1M, consensus $920.27M. Consolidated comparable sales increased 1.1%. "We are pleased with our Q1 results, which reflect strong execution from our teams and a continuing focus on our strategic initiatives designed to inspire a more colorful, confident and welcoming world," said CEO Denise Paulonis. "During Q1, we delivered net sales of $957M, Adjusted Gross Margin of 51% and Adjusted EBITDA of $126M. In addition, we successfully implemented our distribution center consolidation and store optimization plan, furthering our goal to maximize the value of our large real estate portfolio, optimize our supply chain and provide a seamless omni-channel experience to our customers. As we execute on our growth agenda, we remain focused on serving our customers and bringing a heightened level of education, expertise, innovation and services to both our Sally and BSG businesses. We remain confident that our initiatives will enable us to drive long-term growth and shareholder value."