Olaplex Beats Wall Street Estimates in Q2

Olaplex topped Wall Street's second quarter earnings estimates. Sales rose 38.6% to $210.9 million—nearly $10 million more than analysts expected. Professional accounted for $105.5 million of sales, followed by specialty retail ($64.2 million) and direct-to-consumer ($41.2 million). Net income soared 77.7% Olaplex, Santa Barbara, CA, is leader in the hair care space, specifically, the bond builders segment.

“Building on the strong momentum from the first half of the year, we are reaffirming our fiscal-year 2022 guidance ranges,” said Olaplex CEO JuE Wong in a statement. “This reflects the successful execution of our strategy as we disrupt the prestige hair care market with science-based, patent-protected products that are designed to fix real hair problems from first use.”

The company maintained its full-year guidance of net sales between $796 million and $826 million.

Despite the strong results, Olaplex shares fell 9.9% during the day to $14.68.