Exhibit 99.1

Sally Beauty Holdings, Inc. Announces Second Quarter Results

DENTON, Texas, May 1, 2019 – Sally Beauty Holdings, Inc. (NYSE: SBH) (“the Company”) today announced financial results for its second quarter ended March 31, 2019. The Company will hold a conference call today at 7:30 a.m. Central Time to discuss these results.

Fiscal 2019 Second Quarter Overview

Consolidated same store sales decreased 0.5% in the quarter. Consolidated net sales were $945.9 million in the second quarter, a decrease of 3.0% compared to the prior year, partially driven by 69 fewer stores as compared to the prior year. Foreign currency translation had an unfavorable impact of approximately 110 basis points on reported sales.

GAAP diluted earnings per share in the second quarter were $0.54 compared to $0.49 in the prior year, an increase of 10.2%, driven primarily by reduced selling, general and administrative expenses, the gain recorded on the sale of the secondary headquarters and fulfillment center in Texas and a reduced share count. Adjusted diluted earnings per share, excluding charges related to the Company’s transformation efforts in both years, the gain from the sale of the headquarters and fulfillment center and the loss on extinguishment of debt from the prior year, were $0.51 in the second quarter compared to $0.54 in the prior year, a decrease of 5.6%.

“During the quarter, we made solid progress on our transformation plan as we completed the launch of Sally Beauty’s new mobile-first e-commerce platform, launched new brands, had success against our supply chain modernization plans and reduced our debt levels, all as promised,” said Chris Brickman, president and chief executive officer.

“We continued to see good momentum in our largest business, Sally Beauty Supply’s U.S. and Canadian retail business, which is on the leading edge of many of our transformation efforts. While the second quarter was impacted by an Easter calendar shift and cautious retail consumers in February, we are still on track with our transformation plan for the year and are maintaining our full-year guidance based on the performance of recent brand launches and our expectation of improved vendor supply chain execution compared to the prior year,” Brickman concluded.

Update on Transformation Plan

During the second quarter and so far this quarter, we have:

As we move into the second half of fiscal year 2019, we will continue our transformation efforts by:

Fiscal 2019 Second Quarter Financial Detail

Gross margin for the second quarter was 49.5%, a decrease of 40 basis points compared to the prior year, with increases in the North American business of Sally Beauty Supply offset by challenges in Europe and within Beauty Systems Group. Selling, general and administrative expenses, after adjusting for restructuring charges in both years and the gain from the sale of the secondary headquarters and fulfillment center in the current year, dropped by $6.8 million, resulting in 38.2% as a percentage of sales, with the increase of 40 basis points driven by the deleveraging impact of lower sales, notwithstanding the lower absolute expense.

GAAP operating earnings and operating margin in the second quarter were $112.5 million and 11.9%, respectively, compared to $111.1 million and 11.4%, respectively, in the prior year. Adjusted operating earnings and operating margin (excluding charges related to the Company’s transformation efforts in both years and the gain from the sale of the secondary headquarters and fulfillment center) were $106.7 million and 11.3%, respectively, compared to $117.9 million and 12.1%, respectively, in the prior year.

GAAP net earnings in the second quarter were $65.7 million, an increase of $4.4 million, or 7.1%, from the prior year. Adjusted EBITDA in the second quarter was $136.0 million, a decrease of $11.5 million, or 7.8%, from the prior year, and adjusted EBITDA margin was 14.4%, a decline of approximately 70 basis points from the prior year.

At the end of the quarter, inventory was $953.0 million, up 1.9% from the prior year. The increase was driven primarily by the impact of new product launches, the expansion of distribution rights for Beauty Systems Group, and safety stock to deal with vendor conversions, partially offset by a stronger U.S. dollar on reported inventory levels.

Capital expenditures in the quarter, excluding the proceeds from the sale of the secondary headquarters and fulfillment center in Texas, totaled $22.7 million, primarily for information technology projects related to the launch of the new Sally Beauty e-commerce platform, the new Oracle based point-of-sale system and the JDA merchandising and supply chain platform as well as store remodels and maintenance.

As a result of the Company’s tender offer for a portion of its senior notes, which was completed in March, the outstanding principal amount of the senior notes declined by approximately $60 million. At the end of the quarter, the outstanding balance on the asset-based revolving line of credit remained at zero and the Company’s leverage ratio was 2.8.

Fiscal 2019 Second Quarter Segment Results

Sally Beauty Supply

Beauty Systems Group

Fiscal Year 2019 Guidance

The Company remains on track with its transformation plan for the remainder of the fiscal year and is maintaining its full-year financial guidance.

Conference Call and Where You Can Find Additional Information

The Company will hold a conference call and audio webcast today to discuss its financial results and its business at approximately 7:30 a.m. Central Time. 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.  Simultaneous to the conference call, an audio webcast of the call will be available via a link on the Company’s website, investor.sallybeautyholdings.com.  The conference call can be accessed by dialing (800) 230-1059 (International: (612) 288-0329).  The teleconference will be held in a “listen-only” mode for all participants other than the Company’s current sell-side and buy-side investment professionals.  A replay of the earnings conference call will be available starting at 9:30 a.m. Central Time, May 1, 2019, through May 8, 2019, by dialing (800) 475-6701 or if international, dial (320) 365-3844 and reference the conference ID number 465851. Also, a website replay will be available on investor.sallybeautyholdings.com

About Sally Beauty Holdings, Inc.

Sally Beauty Holdings, Inc. (NYSE: SBH) is an international specialty retailer and distributor of professional beauty supplies with revenues of approximately $3.9 billion annually.  Through the Sally Beauty Supply and Beauty Systems Group businesses, the Company sells and distributes through 5,106 stores, including 180 franchised units, and has operations throughout the United States, Puerto Rico, Canada, Mexico, Chile, Peru, the United Kingdom, Ireland, Belgium, France, the Netherlands, Spain and Germany.  Sally Beauty Supply stores offer up to 8,000 products for hair color, hair care,

skin care, and nails through proprietary brands such as Ion^®, Generic Value Products^®, Beyond the Zone^® and Silk Elements^® as well as professional lines such as Wella^®, Clairol^®, OPI^®, Conair^® and Hot Shot Tools^®. Beauty Systems Group stores, branded as CosmoProf or Armstrong McCall stores, along with its outside sales consultants, sell up to 10,500 professionally branded products including Paul Mitchell^®, Wella^®, Matrix^®, Schwarzkopf^®, Kenra^®, Goldwell^®, Joico^® and CHI^®, 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.

Cautionary Notice Regarding Forward-Looking Statements

Statements in this news release and the schedules hereto which are not purely historical facts or which 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 forward-looking terminology 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 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, but not limited to, the risks and uncertainties described in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K for the year ended September 30, 2018, as filed with the 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, or GAAP, and are therefore referred to as non-GAAP financial measures: (1) Adjusted EBITDA and EBITDA Margin; (2) Adjusted Operating Earnings and Operating Margin; (3) Adjusted Diluted Net Earnings Per Share; and (4) Operating 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 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 and costs related to the Company’s previously announced restructuring plans 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 costs related to the Company’s previously announced restructuring plans 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 Diluted Net Earnings Per Share – Adjusted diluted net earnings per share is GAAP diluted earnings per share that exclude tax-effected costs related to the Company’s previously announced restructuring plans and the loss on extinguishment of debt for the relevant time periods as indicated in the accompanying non-GAAP reconciliations to the comparable GAAP financial measures.

Operating Free Cash Flow – We define the measure Operating Free Cash Flow as GAAP net cash provided by operating activities less payments for capital expenditures (net).  We believe Operating 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

SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Earnings

(In thousands, except per share data)

(Unaudited)

1

SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(In thousands)

(Unaudited)

2

Supplemental Schedule 1

SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES

Segment Information

(In thousands)

(Unaudited)

3

Supplemental Schedule 2

SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES

Non-GAAP Financial Measures Reconciliations, Continued

(In thousands, except per share data)

(Unaudited)

4

Supplemental Schedule 3

SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES

Non-GAAP Financial Measures Reconciliations, Continued

(In thousands, except per share data)

(Unaudited)

5

Supplemental Schedule 4

SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES

Non-GAAP Financial Measures Reconciliations, Continued

(In thousands)

(Unaudited)

6

Supplemental Schedule 5

SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES

Store Count and Same Store Sales

(Unaudited)

BSG distributor sales consultants (DSC) include 251 and 263 sales consultants employed by our franchisees at March 31, 2019 and 2018, respectively.

For the purpose of calculating our same store sales metrics, we compare the current period sales for stores open for 14 months or longer as of the last day of a month with the sales for these stores for the comparable period in the prior fiscal year. Our same store sales are calculated in constant U.S. dollars and include e-commerce sales, but do not generally include the sales from stores relocated until 14 months after the relocation. The sales from stores acquired are excluded from our same store sales calculation until 14 months after the acquisition.

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