Olaplex rises on Q3 results beat

Olaplex Holdings

07/11/2023 12:28

** Shares of hair care brand Olaplex Holdings  OLPX.O  up
11.59% at $1.54 premarket
    ** OLPX reports Q3 sales of $123.555 mln, beating analysts'
average estimate of $115.7 mln - LSEG
    ** Co posts third-quarter adj. EPS of $0.05 vs estimates of
$0.04 per share     
    ** Olaplex tightens full-year forecast; now sees 2023
revenue in range of $450 mln-$460 mln, compared with its prior
forecast of $445 mln-$465 mln;
    ** Expects adjusted net income of $100 mln-$108 mln vs $96
mln-$108 mln previously projected 
    ** Up to last close, stock had fallen 73.51% 

 (Reporting by Juby Babu in Bengaluru)
 ((Juby.Babu@thomsonreuters.com;))