Olaplex (OLPX) Net Sales Drop Looks Hairy, Investors Find Beauty in Other Earnings Metrics as Stock Trades Up, ~20%
May 02, 2024 - by Ashlee Vogenthaler
The tech-driven beauty retailer and PRISM Consumer Products Index company, Olaplex Holdings, Inc. (OLPX) announced its Q1 financial results today as EPS came in line $0.03 vs FactSet $0.03, quarterly revenues beat $98.9M vs FactSet $95.2M however, net sales dropped by 13%. Despite this miss, the company is maintaining its FY 2024 guidance citing $435M – $463M in net sales.
On its earnings call, the company cited consumer trends remain consistent with past quarters in the professional and beauty channels, gross margin expansion is expected to continue, and all three of its channels are expected to stabilize and strengthen throughout the remainder of the year.
