Lumber Liquidators Holdings Inc (NYSE: LL) is off to an incredibly strong start in the pre-market hours today, and for good reason. The company released its earnings report for the second quarter, blowing away expectations. This led to excitement among investors who couldn't seem to send this stock up fast enough. As is usually the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:11), LL is trading at $30.30 per share after a gain of $5.59 per share or 22.62% thus far today.
LL Gains On Strong Earnings
As mentioned above, Lumber Liquidators is off to an incredible start to today's trading session after reporting exceptional financial results for the second quarter. Here's what we saw from the earnings report...
- Earnings Per Share – In terms of earnings per share, LL definitely did not disappoint. During the second quarter, analysts were expecting the company to report a loss per share in the amount of $0.06. However, the company reported earnings per share in the amount of $0.16. Not only did this beat expectations, it proved exception growth as the company swung into profits from a loss of $0.45 per share in the same quarter last year.
- Revenue – Revenue also proved to be a big hit for LL. During the quarter, analysts expected that the company would generate revenue in the amount of $256.9 million. However, the company actually generated second quarter revenue in the amount of $263.5 million.
- Sales – Obviously, the strong Lumber Liquidators report can be attributed to strong sales. While analysts expected that same store sales would rise by about 6%, the company actually reported a rise in same store sales of 8.8%.
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on LL. In particular, we're interested in seeing if the company can keep sales growth moving in the right direction. Nonetheless, we'll continue to follow the story closely and bring the news to you as it breaks!
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