10:20 AM EST, 11/07/2024 (MT Newswires) -- Olaplex ( OLPX ) shares were falling past 17% in recent Thursday trading after the company reported lower Q3 adjusted earnings and net sales and cut its fiscal 2024 net sales guidance.

The company reported Q3 adjusted earnings Thursday of $0.04 per diluted share, down from $0.05 a year earlier.

Analysts polled by Capital IQ expected $0.04.

Net sales for the quarter ended Sept. 30 were $119.1 million, down from $123.6 million a year earlier.

Analysts surveyed by Capital IQ expected $126.5 million.

The company said it now expects fiscal 2024 net sales between $405 million and $415 million, down from its previous guidance between $435 million and $463 million.

Analysts polled by Capital IQ expect $447.4 million.

Price: 1.47, Change: -0.33, Percent Change: -18.16