RTTNews | May 6, 2021 10:11AM EDT

10:11 Thursday, May 6, 2021 (RTTNews.com) - Sally Beauty Holdings, Inc. (SBH) shares are trading more than 21 percent on Thursday morning trade as the professional hair color company reported a surge in the second-quarter earnings.

Currently, shares are at $24.55, up 21.17 percent from the previous close of $20.26.

The company reported second-quarter earnings of $38.31 million up 186.6 percent from $13.37 million in the previous year. On a per-share basis, earnings increased 183.3 percent to $0.34 from $0.12. On an adjusted basis, earnings were $0.23 per share.

On average, 7 analysts polled by Thomson Reuters expected the company to earn $0.15 per share. Analysts' estimates usually exclude special items.

Revenue for the quarter increased 6.3 percent to $926.33 million from $871.02 million a year ago. Analysts projected $824.97 million.

Read the original article on RTTNews ( https://www.rttnews.com/3192563/stock-alert-sally-beauty-holdings-gains-21-on-improved-q2-profit.aspx)

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