Olaplex Holdings Inc Down 9.29% To $14.80 After Earnings Beat

Olaplex Holdings Inc (OLPX) reported better than expected earnings this morning for Q2 2022.

Olaplex Holdings Inc's earnings came in at an EPS of $0.14 per share, 8.00% higher than estimates for an EPS of $0.13 per share. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $201.3 million. The Consumer Cyclical company managed to surpass those expectations for its second quarter with revenue of $210.9 million, a positive revenue surprise of $9.6 million (5%).

The stock is down 9.29% to $14.80 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Olaplex Holdings Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 87, putting Olaplex Holdings Inc in the top 25% of stocks. The firm set a 52-week low on May 10, 2022 at $11.73 and set a 52-week high on December 31, 2021 at $30.41.

Olaplex Holdings Inc is a science-enabled, technology-driven beauty company. It offers science-backed solutions that improve hair health. It identifies consumers' most relevant haircare concerns in collaboration with the community of professional hairstylists and consumers and strives to address them through its proprietary technology and innovation capabilities. It offers products through a global omnichannel platform serving the professional, specialty retail, and DTC channels. The company derives its revenue through the sale of its specialty hair care products.