Lumber Liquidators (LL) Tops Q4 EPS by 56c, Revenues Beat

Lumber Liquidators (NYSE: LL) reported Q4 EPS of $1.06, $0.56 better than the analyst estimate of $0.50. Revenue for the quarter came in at $304.2 million versus the consensus estimate of $296.51 million.

"We closed 2020 strong with fourth quarter comparable sales up 10.5%, reflecting continued execution on our transformation plan that positioned us to capitalize on robust consumer demand for home improvement projects," said President and Chief Executive Officer Charles Tyson. "I am pleased with the progress our team is making on our four strategic pillars: people and culture, improving the customer experience, driving traffic and transactions, and improving profitability. For the full year 2020, we delivered $1.1 billion of net sales, demonstrating resilience as we navigated the COVID-19 shut down in the spring to grow comparable sales 10.8% in the second half. Our profitability initiatives drove a $40 million increase in operating income and a 360 basis points increase in operating margin on similar net sales versus 2019. I want to thank our team members for serving our customers every day to deliver these impressive results.

"So far in 2021, our industry continues to benefit from consumer investment in home improvement. That said, there remains a good deal of uncertainty due to COVID-19, potential changes in consumer spending priorities and supply chain volatility. We are well positioned with a strong balance sheet and the financial flexibility to continue to execute our transformation, allowing us to adjust quickly to the environment, if needed. We strive to become the customers' first choice in hard-surface flooring by providing the best experience from start to finish, and plan to differentiate ourselves by offering the high-quality selection, expertise and high-touch service of a local store combined with the scale, omni-channel convenience and value of a national brand. We see substantial opportunity ahead to continue to evolve our Company and increase shareholder value over the long term."

2021 Outlook

The uncertainty surrounding the duration and extent of the impact of COVID-19 makes it uniquely challenging to accurately forecast future financial performance, and as such, the Company is not providing financial guidance.

For earnings history and earnings-related data on Lumber Liquidators (LL) click here.

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