Form 8-K

8-K — Sally Beauty Holdings, Inc.

Accession: 0001368458-26-000004

Filed: 2026-08-03

Period: 2026-08-03

CIK: 0001368458

SIC: 5990 (RETAIL-RETAIL STORES, NEC)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — sbh-20260803.htm (Primary)

EX-99.1 (exhibit991.htm)

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8-K

8-K (Primary)

Filename: sbh-20260803.htm · Sequence: 1

sbh-20260803

false000136845800013684582026-08-032026-08-03

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: August 3, 2026

(Date of earliest event reported)

SALLY BEAUTY HOLDINGS, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

1-33145

36-2257936

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

7900 Windrose Avenue

Plano, Texas

75024

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (800) 777-5706

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common Stock, $0.01 par value SBH New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition

On August 3, 2026, Sally Beauty Holdings, Inc. (the “Company”) issued the news release attached hereto as Exhibit 99.1 reporting the financial results of the Company for the third quarter ended June 30, 2026 (the “Earnings Release”).

Item 7.01 Regulation FD Disclosure

The Earnings Release also provides an update on the Company’s strategy and business outlook.

Item 9.01 Financial Statement and Exhibits

(d)

Exhibit Description

99.1

News release reporting financial results for the third quarter ended June 30, 2026, issued by Sally Beauty Holdings, Inc. on August 3, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

All of the information furnished in Items 2.02 and 7.01 of this report and the accompanying exhibit shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, unless expressly incorporated by reference therein.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SALLY BEAUTY HOLDINGS, INC.

August 3, 2026

By:

/s/ Denise Paulonis

Name: Denise Paulonis

Title: President and Chief Executive Officer

EX-99.1

Filename: exhibit991.htm · Sequence: 2

exhibit991

Contact: Jeff Harkins Investor Relations 940-297-4131 jharkins@sallybeauty.com Sally Beauty Holdings Reports Third Quarter Fiscal 2026 Results  Q3 Consolidated Net Sales Increased 0.2%; Consolidated Comparable Sales Flat  Q3 GAAP Diluted EPS Increased 25%; Adjusted Diluted EPS Increased 8%  Q3 Cash Flow from Operations of $81 Million Deployed to Invest for Growth, Strengthen Balance Sheet and Return Value to Shareholders  Narrows Full Year Fiscal 2026 Outlook Within Prior Guidance Ranges PLANO, Texas, August 3, 2026 – Sally Beauty Holdings, Inc. (NYSE: SBH) (the “Company”), the leader in professional hair color, today announced financial results for its third quarter ended June 30, 2026. The Company will hold a conference call today at 7:30 a.m. Central Time to discuss these results and its business. “Our third quarter results reflect the progress we are making against our long-term strategy and the underlying strength of our operating model,” said Denise Paulonis, president and chief executive officer. “We delivered solid EPS growth and strong cash flow while continuing to invest in the initiatives that are reshaping our customer experience, expanding our reach and strengthening our competitive position. Sally U.S. and Canada delivered another strong quarter with 3.5% comparable sales growth, supported by the strength of hair color, digital growth and new customer acquisition. Importantly, the traction we are seeing across our strategic initiatives has helped drive 9% adjusted EPS growth year-to-date, underscoring our ability to deliver profitable growth while investing in the future. As we enter the final quarter of fiscal 2026, we remain focused on investing behind the growth initiatives that position Sally Beauty Holdings to deliver sustainable, profitable growth and long-term shareholder value.” Fiscal 2026 Third Quarter Summary • Consolidated net sales of $935 million, an increase of 0.2% compared to the prior year; • Consolidated comparable sales were flat; • Global e-commerce sales increased 11% to $110 million, representing 12% of net sales; • GAAP gross margin expansion of 90 basis points to 52.4%; • Adjusted Gross Margin expansion of 40 basis points to 52.4%; • GAAP selling, general and administrative expenses of $404 million, an increase of $1 million compared to the prior year; • Adjusted Selling, General and Administrative Expenses of $404 million, an increase of $5 million compared to the prior year; • GAAP operating earnings of $86 million and GAAP operating margin of 9.2%;

• Adjusted Operating Earnings of $87 million and Adjusted Operating Margin of 9.3%; • GAAP diluted net earnings per share of $0.55, an increase of 25% compared to the prior year; • Adjusted Diluted Net Earnings Per Share of $0.55, an increase of 8% compared to the prior year; • Cash flow from operations of $81 million and Free Cash Flow of $62 million; and • Completed $20 million in term loan repayment and $25 million in share repurchases. Balance Sheet and Cash Flow As of June 30, 2026, the Company had cash and cash equivalents of $173 million and no outstanding borrowings under its asset-based revolving line of credit. At the end of the quarter, inventory was $996 million, down 1% versus a year ago. Third quarter cash flow from operations was $81 million and Free Cash Flow totaled $62 million. During the quarter, the Company utilized its cash flow to repay $20 million of term loan B debt and repurchase 1.9 million shares under its share repurchase program at an aggregate cost of $25 million. The Company ended the third quarter with a net debt leverage ratio of 1.4x. Fiscal 2026 Third Quarter Segment Results Fiscal Year 2026 Guidance* ∗ The Company does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of its reconciling items and the (In thousands, except percentages) Q3 FY26 Q3 FY25 Growth/(Decline) Q3 FY26 Q3 FY25 Growth/(Decline) Net Sales 538,570$ 526,782$ 2.2% 396,920$ 406,525$ (2.4)% Comparable Sales Growth/(Decline) 1.6% (1.1)% 270 bps (2.1)% 0.5% (260) bps Gross Margin 61.5% 60.9% 60 bps 40.1% 39.4% 70 bps Operating Earnings 89,356$ 83,305$ 7.3% 48,973$ 50,672$ (3.4)% Operating Margin 16.6% 15.8% 80 bps 12.3% 12.5% (20) bps Sally Beauty Beauty Systems Group Full Year Prior FY26 Guidance Updated FY26 Guidance Consolidated Net Sales $3.725 billion to $3.750 billion $3.725 billion to $3.733 billion (1) Comparable Sales Flat to up 1% Approximately 0.5% Adjusted Operating Earnings $328 million to $342 million $329 million to $335 million Adjusted Diluted EPS $2.02 to $2.10 $2.04 to $2.08 (2) Capital Expenditures Approximately $100 million No change Free Cash Flow Approximately $200 million No change (1) Assumes approximately 30 bas is points of favorable impact from expected foreign currency rates (2) Assumes 50% of Free Cash Flow goes towards share repurchases (Free Cash Flow defined as GAAP cash flows from operating activi ties less payments for capi ta l expenditures )

information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of the Company’s control or cannot be reasonably predicted. For the same reasons, the Company is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. Conference Call and Where You Can Find Additional Information The Company will hold a conference call and live webcast at approximately 7:30 a.m. Central Time today, August 3, 2026, to discuss its financial results and its business. During the conference call, the Company may discuss and answer one or more questions concerning business and financial matters and trends affecting the Company. The Company’s responses to these questions, as well as other matters discussed during the conference call, may contain or constitute material information that has not been previously disclosed. Participants can listen to the live webcast of the conference call by accessing the investor relations section of the Company’s website at sallybeautyholdings.com/investor-relations/events-and- presentations/events-calendar, or through our third-party host at SBH Q3 Earnings Webcast. To join the conference call, participants can pre-register to receive a dial-in number and unique PIN using the following link: Pre-register SBH Q3 Earnings Call. Pre-registration can be completed at any time up to and following the call start time. A replay will be available on the Company’s investor relations website after 10:00 a.m. Central Time on August 3, 2026, through August 3, 2027. About Sally Beauty Holdings, Inc. Sally Beauty Holdings, Inc. (NYSE: SBH), as the leader in professional hair color, sells and distributes professional beauty supplies globally through its Sally Beauty and Beauty Systems Group segments. Sally Beauty stores offer up to 7,000 products for hair color, hair care, nails, and skin care through proprietary brands such as Ion®, Bondbar®, Strawberry Leopard®, Generic Value Products®, Inspired by Nature® and Silk Elements® as well as professional lines such as Wella®, Clairol®, OPI®, L’Oreal®, Wahl® and Babyliss Pro®. Beauty Systems Group stores, branded as Cosmo Prof® or Armstrong McCall® stores, along with its outside sales consultants, sell up to 8,000 professionally branded products including Paul Mitchell®, Wella®, Matrix®, Schwarzkopf®, Kenra®, Goldwell®, Joico®, Amika® and Moroccanoil®, intended for use in salons and for resale by salons to retail consumers. For more information about Sally Beauty Holdings, Inc., please visit sallybeautyholdings.com/investor-relations. Cautionary Notice Regarding Forward-Looking Statements Statements in this news release and the schedules hereto that are not purely historical facts or that depend upon future events may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, as that term is defined in the Private Securities Litigation

Reform Act of 1995, can be identified by the use of words such as “believes,” “projects,” “expects,” “can,” “may,” “estimates,” “should,” “plans,” “targets,” “intends,” “could,” “will,” “would,” “anticipates,” “potential,” “confident,” “optimistic,” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, guidance, expectations and future plans. Forward-looking statements can also be identified by the fact that these statements do not relate strictly to historical or current matters. Readers are cautioned not to place undue reliance on forward-looking statements as such statements speak only as of the date they were made. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including the “Risk Factors” described under Item 1A of our Annual Report on Form 10-K for the fiscal year ended September 30, 2025, and other filings with the U.S. Securities and Exchange Commission. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein. We assume no obligation to publicly update or revise any forward-looking statements. Use of Non-GAAP Financial Measures This news release and the schedules hereto include the following financial measures that have not been calculated in accordance with accounting principles generally accepted in the United States, (“GAAP”), and are therefore referred to as non-GAAP financial measures: (1) Adjusted Gross Margin; (2) Adjusted Selling, General and Administrative Expenses; (3) Adjusted EBITDA and EBITDA Margin; (4) Adjusted Operating Earnings and Operating Margin; (5) Adjusted Net Earnings; (6) Adjusted Diluted Net Earnings Per Share; and (7) Free Cash Flow. We have provided definitions below for these non-GAAP financial measures and have provided tables in the schedules hereto to reconcile these non-GAAP financial measures to the comparable GAAP financial measures. Adjusted Gross Margin – We define the measure Adjusted Gross Margin as GAAP gross margin excluding the costs related to the Company’s fuel for growth initiative for the relevant time periods as indicated in the accompanying non-GAAP reconciliations to the comparable GAAP financial measures. Adjusted Selling, General and Administrative Expenses – We define the measure Adjusted Selling, General and Administrative Expenses as GAAP selling, general and administrative expenses excluding the costs related to the Company’s fuel for growth initiative and expenses related to the Company’s corporate headquarters relocation for the relevant time periods as indicated in the accompanying non-GAAP reconciliations to the comparable GAAP financial measures. Adjusted EBITDA and EBITDA Margin – We define the measure Adjusted EBITDA as GAAP net earnings before depreciation and amortization, interest expense, income taxes, share-based compensation, costs related to the Company’s fuel for growth initiative and expenses related to the Company’s corporate headquarters relocation for the relevant time periods as indicated in the accompanying non-GAAP reconciliations to the comparable GAAP financial measures. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of net sales.

Adjusted Operating Earnings and Operating Margin – Adjusted operating earnings are GAAP operating earnings that exclude the costs related to the Company’s fuel for growth initiative and expenses related to the Company’s corporate headquarters relocation for the relevant time periods as indicated in the accompanying non-GAAP reconciliations to the comparable GAAP financial measures. Adjusted Operating Margin is Adjusted Operating Earnings as a percentage of net sales. Adjusted Net Earnings – Adjusted net earnings is GAAP net earnings that exclude the tax-effected costs related to the Company’s fuel for growth initiative and tax-effected expenses related to the Company’s corporate headquarters relocation for the relevant time periods as indicated in the accompanying non-GAAP reconciliations to the comparable GAAP financial measures. Adjusted Diluted Net Earnings Per Share – Adjusted diluted net earnings per share is GAAP diluted earnings per share that exclude the tax-effected costs related to the Company’s fuel for growth initiative and tax-effected expenses related to the Company’s corporate headquarters relocation for the relevant time periods as indicated in the accompanying non-GAAP reconciliations to the comparable GAAP financial measures. Free Cash Flow – We define the measure Free Cash Flow as GAAP net cash provided by operating activities less payments for capital expenditures (net). We believe Free Cash Flow is an important liquidity measure that provides useful information to investors about the amount of cash generated from operations after taking into account payments for capital expenditures (net). We believe that these non-GAAP financial measures provide valuable information regarding our earnings and business trends by excluding specific items that we believe are not indicative of the ongoing operating results of our businesses, providing a useful way for investors to make a comparison of our performance over time and against other companies in our industry. We have provided these non-GAAP financial measures as supplemental information to our GAAP financial measures and believe these non-GAAP measures provide investors with additional meaningful financial information regarding our operating performance and cash flows. Our management and Board of Directors also use these non-GAAP measures as supplemental measures to evaluate our businesses and the performance of management, including the determination of performance-based compensation, to make operating and strategic decisions, and to allocate financial resources. We believe that these non-GAAP measures also provide meaningful information for investors and securities analysts to evaluate our historical and prospective financial performance. These non-GAAP measures should not be considered a substitute for or superior to GAAP results. Furthermore, the non-GAAP measures presented by us may not be comparable to similarly titled measures of other companies. Supplemental Schedules Segment Information 1 Non-GAAP Financial Measures Reconciliations 2-3 Non-GAAP Financial Measures Reconciliations; Adjusted EBITDA and Free Cash Flow 4 Store Count and Comparable Sales 5

2026 2025 Percentage Change 2026 2025 Percentage Change Net sales $ 935,490 $ 933,307 0.2 % $ 2,782,040 $ 2,754,348 1.0 % Cost of products sold 445,241 452,322 (1.6)% 1,332,760 1,337,706 (0.4)% Gross profit 490,249 480,985 1.9 % 1,449,280 1,416,642 2.3 % Selling, general and administrative expenses 403,853 402,812 0.3 % 1,215,019 1,168,776 4.0 % Operating earnings 86,396 78,173 10.5 % 234,261 247,866 (5.5)% Interest expense 13,693 15,709 (12.8)% 42,478 49,440 (14.1)% Earnings before provision for income taxes 72,703 62,464 16.4 % 191,783 198,426 (3.3)% Provision for income taxes 18,621 16,740 11.2 % 49,449 52,479 (5.8)% Net earnings $ 54,082 $ 45,724 18.3 % $ 142,334 $ 145,947 (2.5)% Earnings per share: Basic $0.57 $0.46 23.9 % $1.47 $1.44 2.1 % Diluted $0.55 $0.44 25.0 % $1.43 $1.40 2.1 % Weighted average shares: Basic 95,058 100,463 96,537 101,367 Diluted 97,912 103,239 99,402 104,187 Basis Point Change Basis Point Change Comparison as a percentage of net sales Consolidated gross margin 52.4% 51.5% 90 52.1% 51.4% 70 Selling, general and administrative expenses 43.2% 43.2% — 43.7% 42.4% 130 Consolidated operating margin 9.2% 8.4% 80 8.4% 9.0% (60) Effective tax rate 25.6% 26.8% (120) 25.8% 26.4% (60) (In thousands, except per share data) Condensed Consolidated Statements of Earnings SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES Three Months Ended June 30, (Unaudited) Nine Months Ended June 30,

June 30, September 30, 2026 2025 Cash and cash equivalents $ 173,100 $ 149,162 Trade and other accounts receivable 95,942 116,562 Inventory 996,001 987,575 Other current assets 46,159 48,154 Total current assets 1,311,202 1,301,453 Property and equipment, net 279,220 284,284 Operating lease assets 652,279 646,698 Goodwill and other intangible assets 589,189 593,692 Other assets 51,254 44,969 Total assets $ 2,883,144 $ 2,871,096 Current maturities of long-term debt $ 4,000 $ 4,000 Accounts payable 223,860 224,507 Accrued liabilities 163,992 184,641 Current operating lease liabilities 161,743 158,566 Income taxes payable 293 4,260 Total current liabilities 553,888 575,974 Long-term debt, including capital leases 803,567 861,974 Long-term operating lease liabilities 546,098 538,426 Other liabilities 20,904 21,026 Deferred income tax liabilities, net 87,213 79,489 Total liabilities 2,011,670 2,076,889 Total stockholders’ equity 871,474 794,207 Total liabilities and stockholders’ equity $ 2,883,144 $ 2,871,096 SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited) (In thousands)

2026 2025 Percentage Change 2026 2025 Percentage Change Net sales: Sally Beauty Supply ("Sally") $ 538,570 $ 526,782 2.2 % $ 1,591,407 $ 1,552,803 2.5 % Beauty Systems Group ("BSG") 396,920 406,525 (2.4)% 1,190,633 1,201,545 (0.9)% Total net sales $ 935,490 $ 933,307 0.2 % $ 2,782,040 $ 2,754,348 1.0 % Operating earnings: Sally $ 89,356 $ 83,305 7.3 % $ 245,402 $ 240,484 2.0 % BSG 48,973 50,672 (3.4)% 150,248 145,075 3.6 % Segment operating earnings 138,329 133,977 3.2 % 395,650 385,559 2.6 % Unallocated expenses (1) 51,933 55,804 (6.9)% 161,389 137,693 17.2 % Interest expense 13,693 15,709 (12.8)% 42,478 49,440 (14.1)% Earnings before provision for income taxes $ 72,703 $ 62,464 16.4 % $ 191,783 $ 198,426 (3.3)% Segment gross margin: 2026 2025 Basis Point Change 2026 2025 Basis Point Change Sally 61.5% 60.9% 60 60.8% 60.6% 20 BSG 40.1% 39.4% 70 40.4% 39.6% 80 Segment operating margin: Sally 16.6% 15.8% 80 15.4% 15.5% (10) BSG 12.3% 12.5% (20) 12.6% 12.1% 50 Consolidated operating margin 9.2% 8.4% 80 8.4% 9.0% (60) Supplemental Schedule 1 Nine Months Ended June 30,Three Months Ended June 30, (1) Unallocated expenses, including share-based compensation expense, consist of corporate and shared costs and are included in selling, general and administrative expenses. Additionally, unallocated expenses include costs associated with our Fuel for Growth initiative and a gain from the sale of our corporate headquarters during the nine months ended June 30, 2025. (In thousands) (Unaudited) Segment Information SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES

As Reported (GAAP) Fuel for Growth and Other (1) As Adjusted (Non-GAAP) Cost of products sold $ 445,241 $ (283) $ 444,958 Consolidated gross margin 52.4% 52.4% Selling, general and administrative expenses 403,853 89 403,942 SG&A expenses, as a percentage of sales 43.2% 43.2% Operating earnings 86,396 194 86,590 Operating margin 9.2% 9.3% Earnings before provision for income taxes 72,703 194 72,897 Provision for income taxes (3) 18,621 47 18,668 Net earnings $ 54,082 $ 147 $ 54,229 Earnings per share: (4) Basic $ 0.57 $ — $ 0.57 Diluted $ 0.55 $ — $ 0.55 As Reported (GAAP) Fuel for Growth and Other (1) Corporate HQ Relocation (2) As Adjusted (Non-GAAP) Cost of products sold $ 452,322 $ (4,068) $ — $ 448,254 Consolidated gross margin 51.5% 52.0% Selling, general and administrative expenses 402,812 (3,737) (137) 398,938 SG&A expenses, as a percentage of sales 43.2% 42.7% Operating earnings 78,173 7,805 137 86,115 Operating margin 8.4% 9.2% Earnings before provision for income taxes 62,464 7,805 137 70,406 Provision for income taxes (3) 16,740 1,263 10 18,013 Net earnings $ 45,724 $ 6,542 $ 127 $ 52,393 Earnings per share: (4) Basic $ 0.46 $ 0.07 $ — $ 0.52 Diluted $ 0.44 $ 0.06 $ — $ 0.51 Supplemental Schedule 2 Three Months Ended June 30, 2025 (1) Primarily represents expenses associated with our Fuel for Growth initiative and other non-recurring items. (2) Primarily represents expenses in connection with the relocation of our headquarters. (4) Calculated using rounded amounts as presented. (3) Calculated using the applicable tax rates for each country, while excluding the tax benefits for countries where the tax benefit is not currently deemed probable of being realized. (Unaudited) Three Months Ended June 30, 2026 (In thousands, except per share data) Non-GAAP Financial Measures Reconciliations SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES

As Reported (GAAP) Fuel for Growth and Other (1) Corporate HQ Relocation (2) As Adjusted (Non-GAAP) Cost of products sold $ 1,332,760 $ (2,001) $ — $ 1,330,759 Consolidated gross margin 52.1% 52.2% Selling, general and administrative expenses 1,215,019 (1,373) (1,852) 1,211,794 SG&A expenses, as a percentage of sales 43.7% 43.6% Operating earnings 234,261 3,374 1,852 239,487 Operating margin 8.4% 8.6% Earnings before provision for income taxes 191,783 3,374 1,852 197,009 Provision for income taxes (4) 49,449 852 476 50,777 Net earnings $ 142,334 $ 2,522 $ 1,376 $ 146,232 Earnings per share: (5) Basic $ 1.47 $ 0.03 $ 0.01 $ 1.51 Diluted $ 1.43 $ 0.03 $ 0.01 $ 1.47 As Reported (GAAP) Fuel for Growth and Other (1) Corporate HQ Relocation (2) Asset Impairment (3) As Adjusted (Non-GAAP) Cost of products sold $ 1,337,706 $ (4,068) $ — $ — $ 1,333,638 Consolidated gross margin 51.4% 51.6% Selling, general and administrative expenses 1,168,776 (12,412) 26,296 (1,779) 1,180,881 SG&A expenses, as a percentage of sales 42.4% 42.9% Operating earnings 247,866 16,480 (26,296) 1,779 239,829 Operating margin 9.0% 8.7% Earnings before provision for income taxes 198,426 16,480 (26,296) 1,779 190,389 Provision for income taxes (4) 52,479 3,485 (6,788) 444 49,620 Net earnings $ 145,947 $ 12,995 $ (19,508) $ 1,335 $ 140,769 Earnings per share: (5) Basic $ 1.44 $ 0.13 $ (0.19) $ 0.01 $ 1.39 Diluted $ 1.40 $ 0.12 $ (0.19) $ 0.01 $ 1.35 (Unaudited) (5) Calculated using rounded amounts as presented. (4) Calculated using the applicable tax rates for each country, while excluding the tax benefits for countries where the tax benefit is not currently deemed probable of being realized. (3) Write-off of certain tradenames used in Europe. Supplemental Schedule 3 Nine Months Ended June 30, 2025 (1) Primarily represents expenses associated with our Fuel for Growth initiative and other non-recurring items. (2) For the nine months ended June 30, 2026, corporate HQ relocation primarily represents duplicate rent expense on the new office prior to our relocation from our Denton corporate headquarters. For the nine months ended June 30, 2025, corporate HQ relocation primarily represents a $26.6 million gain from the sale of our Denton headquarters facility, net of expenses associated with the relocation. Nine Months Ended June 30, 2026 SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES Non-GAAP Financial Measures Reconciliations, Continued (In thousands, except per share data)

Adjusted EBITDA: 2026 2025 Percentage Change 2026 2025 Percentage Change Net earnings $ 54,082 $ 45,724 18.3 % $ 142,334 $ 145,947 (2.5)% Add: Depreciation and amortization 26,223 24,669 6.3 % 75,135 75,593 (0.6)% Interest expense 13,693 15,709 (12.8)% 42,478 49,440 (14.1)% Provision for income taxes 18,621 16,740 11.2 % 49,449 52,479 (5.8)% EBITDA (non-GAAP) 112,619 102,842 9.5 % 309,396 323,459 (4.3)% Share-based compensation 4,572 4,509 1.4 % 18,096 14,800 22.3 % Fuel for Growth and Other 194 7,805 (97.5)% 3,374 16,480 (79.5)% Corporate HQ Relocation — 137 (100.0)% 1,852 (26,296) 107.0 % Asset Impairment — — — % — 1,779 (100.0)% Adjusted EBITDA (non-GAAP) $ 117,385 $ 115,293 1.8 % $ 332,718 $ 330,222 0.8 % Adjusted EBITDA as a percentage of net sales Basis Point Change Basis Point Change Adjusted EBITDA margin 12.5% 12.4% 10 12.0% 12.0% - Free Cash Flow: 2026 2025 Percentage Change 2026 2025 Percentage Change Cash flows from operating activities $ 80,942 $ 69,432 16.6 % $ 247,461 $ 153,952 60.7 % Less: Payments for capital expenditures 19,311 20,300 (4.9)% 84,257 59,271 42.2 % Plus: Proceeds from sale of property and equipment (1) — — — % — 43,574 (100.0)% Free cash flow (non-GAAP) $ 61,631 $ 49,132 25.4 % $ 163,204 $ 138,255 18.0 % Supplemental Schedule 4 Nine Months Ended June 30,Three Months Ended June 30, (1) Proceeds from the sale of our corporate headquarters. (In thousands) (Unaudited) Non-GAAP Financial Measures Reconciliations, Continued SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES

2026 2025 Change Number of stores: Sally 3,066 3,096 (30) BSG: Company-operated stores 1,189 1,198 (9) Franchise stores 131 131 — Total BSG 1,320 1,329 (9) Total consolidated 4,386 4,425 (39) Number of BSG salon business consultants (1) 558 611 (53) 2026 2025 Basis Point Change 2026 2025 Basis Point Change Comparable sales growth (decline): Sally 1.6 % (1.1)% 270 1.4 % 0.1 % 130 BSG (2.1)% 0.5 % (260) (0.9)% (0.2)% (70) Consolidated - % (0.4)% 40 0.4 % - % 40 (Unaudited) SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES Store Count and Comparable Sales Supplemental Schedule 5 As of June 30, (1) Includes 193 and 191 sales consultants employed by our franchisees at June 30, 2026 and 2025, respectively. Three Months Ended June 30, Our comparable sales include sales from stores that have been operating for 14 months or longer as of the last day of a month and e-commerce revenue. Additionally, our comparable sales include sales to franchisees and full-service sales. Our comparable sales exclude the effect of changes in foreign exchange rates and sales from stores relocated until 14 months after the relocation. Revenue from acquired stores is excluded from our comparable sales calculation until 14 months after the acquisition. Nine Months Ended June 30,

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v3.26.1

Cover

Aug. 03, 2026

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Aug. 03, 2026

Registrant Name

SALLY BEAUTY HOLDINGS, INC.

Entity Incorporation, State or Country Code

Entity File Number

1-33145

Entity Tax Identification Number

36-2257936

Entity Address, Address Line One

7900 Windrose Avenue

Entity Address, City or Town

Plano

Entity Address, State or Province

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75024

City Area Code

800

Local Phone Number

777-5706

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Common Stock, $0.01 par value

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NYSE

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