- Lumber Liquidators Holdings Inc LL reported a third-quarter FY21 sales decline of 4.6% year-on-year, to $282.23 million, missing the analyst consensus of $289 million.
- Comparable store sales decreased 4.5% versus last year and increased 6.4% on a two-year stack basis.
- Merchandise sales decreased 7.7% Y/Y to $240.8 million, while Services sales rose 18.9% to $41.4 million.
- The gross margin contracted 210 basis points Y/Y to 37.3%, and the gross profit fell 9.7% to $105.2 million.
- The operating margin was 4.3%, and operating income for the quarter decreased 48% to $12 million.
- The company held $104.2 million in cash and equivalents as of September 30, 2021. Cash provided by operating activities for the nine months totaled $50.3 million.
- Adjusted EPS of $0.29 missed the analyst consensus of $0.30.
- Lumber Liquidators did not provide financial guidance at this time, citing global supply chain disruptions, consumer spending, inflation, and a challenging labor market.
- Meanwhile, the company expects higher material and transportation costs to be a headwind to gross margins in Q4 of 2021 and 2022 as the goods sell-through.
- Price Action: LL shares are trading higher by 3.56% at $19.18 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In:
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in