Olaplex Holdings Inc

Latest Results (07.08.2024):

Net Sales Performance

Olaplex Holdings Inc. reported a 4.8% decrease in net sales for the second quarter of 2024, totaling $103.9 million compared to the same period in 2023. The decline was driven by a mixed performance across different sales channels, with Specialty Retail increasing by 22.4% to $36.4 million, while Professional and Direct-To-Consumer channels saw decreases of 18.4% and 11.5%, respectively.

Geographical Sales Insights

For the second quarter of 2024, Olaplex Holdings Inc. experienced a 7.3% increase in net sales within the United States. However, this growth was offset by a 15.1% decrease in international sales. This geographical disparity highlights the company's stronger performance in its domestic market compared to its international operations.

Net Income and Earnings Per Share

Olaplex Holdings Inc. saw a 6.1% decrease in net income for the second quarter of 2024 compared to the same period in 2023. Despite this, the company's diluted earnings per share (EPS) remained consistent at $0.01 for both quarters. Adjusted net income also decreased by 11.6%, with adjusted diluted EPS holding steady at $0.03.

Gross Profit and Margins

In the second quarter of 2024, Olaplex Holdings Inc. reported a gross profit of $72.4 million, down from $77.5 million in the same quarter of the previous year. The gross profit margin slightly decreased to 69.7% from 70.9%. Adjusted gross profit was $74.7 million, with an adjusted gross profit margin of 71.9%, reflecting a minor decline from the previous year's 72.7%.

Fiscal Year 2024 Guidance

Olaplex Holdings Inc. reiterated its fiscal year 2024 guidance, projecting net sales between $435 million and $463 million. The company also expects adjusted net income to range from $87 million to $100 million and adjusted EBITDA between $143 million and $159 million. This guidance reflects management's confidence in the company's long-term growth potential and strategic direction.