Overview
- Olaplex reported third-quarter net sales down 3.8% to $114.6 million, a smaller decline than analysts expected.
- U.S. revenue fell 14.6% with specialty retail down 13.5%, while international sales grew 7.1%.
- Management cited traction from two $44 hair masks as a key contributor to the improvement overseas.
- The company reaffirmed full-year guidance calling for a high single-digit decline in Q3 and a high single-digit increase in Q4, supported by a renewed pro-first push with stylists.
- Shares rose as much as 6.5% after the report before settling up about 2%, and EPS of $0.02 topped consensus.