Core Insights - Olaplex Holdings, Inc. will participate in the Barclays 17th Annual Global Consumer Staples Conference in Boston, MA [1] - CEO Amanda Baldwin is scheduled to present on September 4, 2024, at 4:30pm ET and will engage with investors during the conference [2] - The audio of the presentation will be accessible on the Company's Investor Relations website for 90 days post-event [2] Company Overview - Olaplex is a technology-driven beauty company focused on improving hair health, having disrupted the prestige hair care market since 2014 with its bond-building technology [3] - The proprietary ingredient of Olaplex operates on a molecular level to protect and repair damaged hair, enhancing the effectiveness of hair services [3] - The brand's products are distributed through an expanding omnichannel model, including professional, specialty retail, and direct-to-consumer channels [3]

Core Insights - Olaplex Holdings, Inc. reported revenue of $103.94 million for the quarter ended June 2024, reflecting a year-over-year decline of 4.9% [1] - The earnings per share (EPS) for the same period was $0.03, unchanged from the previous year, with no EPS surprise reported [1] - The revenue exceeded the Zacks Consensus Estimate of $102.92 million by 0.99% [1] Revenue Breakdown - Professional revenue was $33.40 million, falling short of the average estimate of $37.64 million by six analysts, representing an 18.3% year-over-year decline [3] - Direct-to-Consumer (DTC) revenue reached $34.10 million, slightly below the estimated $35.02 million, marking an 11.4% decrease compared to the previous year [4] - Specialty retail revenue was $36.40 million, surpassing the average estimate of $29.82 million, indicating a year-over-year increase of 22.2% [5] Stock Performance - Over the past month, Olaplex shares have returned 25.9%, contrasting with a 6.7% decline in the Zacks S&P 500 composite [5] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [5]

Company Performance - Olaplex Holdings, Inc. reported quarterly earnings of $0.03 per share, matching the Zacks Consensus Estimate, and the same as the previous year [1] - The company posted revenues of $103.94 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 0.99%, but down from $109.24 million a year ago [2] - Over the last four quarters, Olaplex has surpassed consensus revenue estimates four times, but has only done so for EPS estimates once [1][2] Stock Performance - Olaplex shares have declined approximately 27.2% since the beginning of the year, contrasting with the S&P 500's gain of 8.7% [3] - The current Zacks Rank for Olaplex is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.04 on revenues of $129.97 million, and for the current fiscal year, it is $0.14 on revenues of $450.66 million [7] - The cosmetics industry, to which Olaplex belongs, is currently ranked in the bottom 32% of over 250 Zacks industries, suggesting potential challenges ahead [8]

Net Sales Performance - Net sales decreased by 4.8% to $103.9 million in Q2 2024 compared to Q2 2023, with Specialty Retail increasing by 22.4% to $36.4 million, Professional decreasing by 18.4% to $33.4 million, and Direct-To-Consumer decreasing by 11.5% to $34.1 million[1] - For the six months ended June 30, 2024, net sales decreased by 9.0% to $202.849 million compared to the same period in 2023[3] - Net sales for Q2 2024 were $103.9 million, a decrease from $109.2 million in Q2 2023[17] Net Income and Adjusted Net Income - Net income decreased by 6.1% and adjusted net income decreased by 11.6% in Q2 2024 compared to Q2 2023[1] - Adjusted net income for the six months ended June 30, 2024, decreased by 25.2% to $39.347 million compared to the same period in 2023[3] - Net income for Q2 2024 was $5.8 million, compared to $6.2 million in Q2 2023[17] - Net income for Q2 2024 was $5.8 million, a decrease from $6.2 million in Q2 2023[20] - Adjusted net income for Q2 2024 was $18.8 million, down from $21.2 million in Q2 2023, with adjusted EPS of $0.03[22] Adjusted EBITDA and Margin - Adjusted EBITDA decreased by 12.7% to $32.054 million in Q2 2024 compared to Q2 2023, with an adjusted EBITDA margin of 30.8%[2] - Adjusted EBITDA margin is expected to be in the range of 32.8% to 34.3% for fiscal year 2024[7] - Adjusted EBITDA and adjusted EBITDA margin are used as key non-GAAP financial measures to assess the company's operating performance[13] - The company provided forward-looking guidance for adjusted EBITDA, adjusted EBITDA margin, and other non-GAAP metrics but cannot reconcile them to GAAP measures due to uncertainty[14] - Adjusted EBITDA for Q2 2024 was $32.1 million, down from $36.7 million in Q2 2023, with a margin of 30.8% compared to 33.6% in the prior year[20] Gross Profit and Margin - Gross profit for Q2 2024 was $72.4 million, down from $77.5 million in Q2 2023[17] - Adjusted gross profit margin is anticipated to be in the range of 72.5% to 73.1% for fiscal year 2024, compared to 71.4% in fiscal year 2023[6] - Adjusted gross profit for Q2 2024 was $74.7 million, with a margin of 71.9%, slightly lower than 72.7% in Q2 2023[20] SG&A Expenses - Adjusted SG&A is expected to be in the range of $172 million to $179 million for fiscal year 2024, an increase of $19 million to $26 million compared to fiscal year 2023[7] - Adjusted SG&A expenses for Q2 2024 were $42.6 million, slightly higher than $42.3 million in Q2 2023[21] Cash and Cash Equivalents - The company had $507.9 million in cash and cash equivalents as of June 30, 2024, compared to $466.4 million as of December 31, 2023[4] - Cash and cash equivalents increased to $507.9 million as of June 30, 2024, up from $466.4 million at the end of 2023[16] Assets and Liabilities - Total assets grew to $1.76 billion as of June 30, 2024, compared to $1.74 billion at the end of 2023[16] - Long-term debt decreased slightly to $646.4 million as of June 30, 2024, from $649.0 million at the end of 2023[16] - Inventory increased to $100.2 million as of June 30, 2024, up from $95.9 million at the end of 2023[16] Operating Activities - Net cash provided by operating activities for the first six months of 2024 was $59.9 million, down from $75.1 million in the same period of 2023[18] One-Time Costs and Payments - The company made a one-time $3.5 million payment to a former distributor in the UAE in 2023 to establish a new partnership[22] - Inventory write-off and disposal costs in 2023 were $24,000 due to product reformulation following EU regulation changes[22] - Executive reorganization costs in Q2 2024 were $7,000, related to ongoing benefit payments for former executives[22] Fiscal Year 2024 Guidance - The company reiterated its fiscal year 2024 guidance, expecting net sales between $435 million and $463 million, adjusted net income between $87 million and $100 million, and adjusted EBITDA between $143 million and $159 million[5][6]

NEW YORK, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Olaplex Holdings, Inc. (NASDAQ: OLPX) ("OLAPLEX" or the "Company") today announced financial results for the second quarter and six months ended June 30, 2024. Amanda Baldwin, OLAPLEX's Chief Executive Officer, commented: "Our second quarter performance was in line with our expectations and demonstrated continued stabilization in the business. I am encouraged by the progress we are making on our transformation journey as we delivered on our goals for the first hal ...

Company Overview - Olaplex Holdings, Inc. is an innovative, science-enabled, technology-driven beauty company focused on improving hair health [4] - The company revolutionized the prestige hair care category in 2014 with its bond-building technology that protects, strengthens, and relinks broken hair bonds [4] - Olaplex's proprietary, patent-protected ingredient operates on a molecular level to repair damaged hair [4] - The brand's award-winning products are distributed through an expanding omnichannel model, including professional, specialty retail, and direct-to-consumer channels [4] Upcoming Events - Amanda Baldwin, Chief Executive Officer, will present at the Canaccord Genuity 44th Annual Growth Conference in Boston, MA on August 14, 2024, at 10:00 am ET [3] - The audio portion of the presentation will be available on the company's Investor Relations website for 90 days following the event [1]

The company plans to host an investor conference call and webcast to review second quarter fiscal 2024 financial results at 9:00am ET/6:00am PT on the same day. The webcast can be accessed at https://ir.olaplex.com/. The conference call can be accessed by calling (201) 689-8521 or (877) 407-8813 for a toll-free number. A replay of the webcast will remain available on the website for 90 days. Contacts NEW YORK, July 23, 2024 (GLOBE NEWSWIRE) -- Olaplex Holdings, Inc. ("OLAPLEX"), today announced that it plan ...

NEW YORK, July 23, 2024 (GLOBE NEWSWIRE) -- Olaplex Holdings, Inc. ("OLAPLEX"), today announced that it plans to report second quarter fiscal 2024 financial results before the market opens on Tuesday, August 6, 2024. About OLAPLEX Contacts Financial Media: Lisa Bobroff Vice President, Global Communications & Consumer Engagement lisa.bobroff@olaplex.com The company plans to host an investor conference call and webcast to review second quarter fiscal 2024 financial results at 9:00am ET/6:00am PT on the same d ...

My Rating History on OLPX (Seeking Alpha) Vladdeep/iStock via Getty Images The Q1 results came in largely as expected, although revenues did slightly beat the given guidance. The reported $98.9 million revenues, down -13.1% year-over-year, beat the previously given guidance range of $92-97 million slightly. The normalized EPS came in at $0.03, down $0.02 year-over-year, but in line with Wall Street analysts' estimates. The underlying operative profitability was even surprisingly good in my opinion, as the 1 ...

Forward-looking statements involve known and unknown risks, inherent uncertainties, and other factors that are difficult to predict which may cause the Company's actual results, performance, time frames, or achievements to be materially different from any future results, performance, time frames, or achievements expressed or implied by the forward-looking statements, including, without limitation: the risk that the Company cannot identify and recruit a permanent chief financial officer in a timely manner; c ...