Tile Shop (TTS) Tops Q2 EPS by 2c, Beats on Revenues

Tile Shop (NASDAQ: TTS) reported Q2 EPS of $0.10, $0.02 better than the analyst estimate of $0.08. Revenue for the quarter came in at $92.91 million versus the consensus estimate of $90.41 million.

Second Quarter Summary

• Net Sales Increased 3.9%
• Comparable Store Sales Declined 1.8%
• 70.3% Gross MarginDiluted
• Earnings per Share of $0.10
• Net Income of $5.0 million
• Adjusted EBITDA of $15.1 million
• Completed 3 store remodels in Q2
• Completed 7 store remodels year-to-date in 2018

Management Commentary

“During the second quarter, we continued to improve our assortment and grow our pro customer base. We also improved our store experience through the combination of store remodel and store merchandising investments. These all have been strong focus areas for our entire company and are key elements of our differentiation and long-term strategy,” said Robert Rucker, interim CEO. “We continued to see the signs that we have the right strategy in place, including our improvement in comp sales and our ability to sustain our strong gross margin rate. We feel we are positioning our company well for long-term success as we work to lay the foundation for longer-term achievement of return on capital employed of 20% or greater.”

For earnings history and earnings-related data on Tile Shop (TTS) click here.

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