Regis Corporation (NYSE:RGS) Q4 2023 Earnings Conference Call August 23, 2023 8:30 AM ET
Corporate Participants
Biz McShane - Vice President, Corporate Controller
Matthew Doctor - President and Chief Executive Officer
Kersten Zupfer - Executive Vice President and Chief Financial Officer
Conference Call Participants
Eric Beder - Small Cap Consumer Research
Biz McShane
Good morning and thank you for joining the Regis Fourth Quarter 2023 Earnings Release Conference Call. All participants are in a listen-only mode. The prepared remarks by our President and Chief Executive Officer, Matthew Doctor, and Executive Vice President and Chief Financial Officer, Kersten Zupfer, are accompanied by slides to help participants follow along.
After the prepared remarks, we will have time for questions. [Operator Instructions] I'm your host, Biz McShane, Vice President and Corporate Controller, and I would like to remind everyone that this conference is being recorded. Please be aware that the language on forward-looking statements included in our earnings release and 8-K filing also apply to our comments made on the call today.
These documents, along with our presentation today, can be found on our website at www.regiscorp.com/investorrelations, along with a reconciliation of any non-GAAP financial measures mentioned on today's call, with our corresponding GAAP measures.
With that, I will now turn the call over to Matt.
Matthew Doctor
Thank you, Biz, and good morning, everyone. Today's call marks the end of our fiscal year 2023. And with that I feel it's appropriate time to not only go through our Q4 and full year results, but also recap the key milestones we've achieved during the year. In addition to laying out the initiatives we are focused on as we move into fiscal 2024.
During our Q4 call last year, I mentioned four themes that came to mind. One, the right team; two, business transformation; three, progress; and four, the creation and implementation of a path forward. As I reflect on our fiscal 2023, all of these came together and have led to the positive trends we are seeing in our business and the results we have delivered for the year. I mentioned this every call, and I'll mention it again. I continue to be very proud of what this team and our franchisees have achieved in what still is a relatively short period of time and in what remains a challenging time for our industry.
Sitting here today, I believe those themes are still appropriate and remain in place as we continue to stabilize and grow the business. Now jumping right into our results for the quarter and full year. In Q4, same-store sales rose 2.5% versus the prior year's fourth quarter. For the full year, same-store sales were up 4.4% versus fiscal 2022. Adjusted Q4 EBITDA on a consolidated basis was $5.2 million compared to $1 million in the prior year's quarter, a $4.2 million improvement. For the fiscal year, adjusted EBITDA was $21 million.