Company: SBH
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0000950170-25-019869
Chunk: 31

Company: Sally Beauty Holdings, Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 2
Chunk 31
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15.0 million, the disposal of assets held for sale previously included in other current assets as a result of the sale of our corporate HQ, and the timing of lease renewals, partially offset by the timing of accounts payable. 

We anticipate that existing cash balances (excluding certain amounts permanently invested in connection with foreign operations), cash expected to be generated by operations, and funds available under our ABL facility will be sufficient to fund our working capital and capital expenditure requirements over the next twelve months. 

Cash Flows

    Three Months Ended December 31,

    (in thousands)
     
    2024

    2023

    Net cash provided by operating activities
     
    $
    33,457

    $
    51,020

    Net cash provided (used) by investing activities

    23,125

    (30,769
    )

    Net cash used by financing activities

    (57,667
    )

    (22,776
    )

      Net Cash Provided by Operating Activities

The decrease in cash provided by operating activities was primarily driven by the timing of accounts payable and tax payments, partially offset by lower inventory purchases, the timing of debt interest payments and higher cash receipts from customers.

      Net Cash Provided (Used) by Investing Activities

For the three months ended December 31, 2024, net cash provided was primarily a result of receiving $44.0 million from the sale of our corporate headquarters. Additionally, we had lower capital expenditures as we lapped system upgrades in the prior year, while current spend related primarily to store improvements. 

      Net Cash Used by Financing Activities

The increase in cash used by financing activities was primarily due to the $40.0 million early repayment on our term loan, partially offset by fewer shares repurchased in the current year under our share repurchase program.

Debt and Guarantor Financial Information

At December 31, 2024, we had $942.2 million in outstanding debt principal, excluding finance lease obligations, unamortized debt issuance costs and debt discounts, in the aggregate, of $10.8 million. Our debt consists of $600.0 million in 2032 Senior Notes outstanding, and $353.0 million remaining on our Term Loan B. There were no outstanding borrowings under our ABL facility.

We utilize our ABL facility for the issuance of letters of credit, certain working capital and liquidity needs, and to manage normal fluctuations in our operational cash flow. In that regard,