Beauty Health retracts FY23 gross margin forecast, shares fall

Skinhealth Systems

09/08/2023 16:17

** Shares of Beauty Health Company  SKIN.O  down 1.5% at
$7.4    
    ** Skin treatment devices maker retracts fiscal year 2023
adjusted gross margin forecast due to Q2 margin headwinds
carrying into H2
    ** Separately, co appoints Michael Monahan as chief
financial officer, effective Aug. 10
    ** Monahan succeeds Liyuan Woo who will remain as advisor
until Sept. 1, 2023 to help with transition
    ** Posts Q2 net sales of $117.5 mln vs estimates of $116.09
mln - Refinitiv
    ** Posts Q2 EPS of 3 cents/shr vs. loss of 6 cents/share
reported year ago
    ** Re-affirms 2023 net sales on the strength of continued
demand for Hydrafacial and strong trends in China 
    ** Also, reiterates long-term 2025 financial forecast
    ** Seven of 12 brokerages rate the stock "buy" or higher, 4 
"hold"; their median PT is $15.00
    ** Including sessions moves, stock down 19.40% YTD 

 (Reporting By Akshita Toshniwal in Bengaluru)
 ((Akshita.Toshniwal@thomsonreuters.com))