Lumber Liquidators (LL) Misses Q3 EPS by 10c; Guides Lower

Lumber Liquidators (NYSE: LL) reported Q3 EPS of $0.58, $0.10 worse than the analyst estimate of $0.68. Revenue for the quarter came in at $266.1 million versus the consensus estimate of $273.7 million.

Lumber Liquidators sees Q4 2014 EPS of $0.71-$0.85, versus the consensus of $0.89.

Lumber Liquidators sees FY2014 EPS of $2.38-$2.52, versus prior guidance of $2.65-$3.00 and the consensus of $2.66. Lumber Liquidators sees FY2014 revenue of $1.05-1.065 billion, versus prior guidance of $1.05-1.10 billion and the consensus of $1.07 billion.

Robert M. Lynch, President and Chief Executive Officer, commented, "We saw improvement in our net sales trends over the course of the quarter as inventory levels recovered and the fall flooring season began. We were able to achieve the lower end of our revenue and EPS ranges, although constrained inventory of certain key products and promotional events led to a gross margin which was lower than we had anticipated. At the same time that we addressed near-term challenges in our business, we continued to focus on the long-term by implementing our strategic initiatives and investing in our value proposition. We were excited to launch our new Bellawood collection during the quarter, featuring new flooring styles and a finish that's considerably more resilient than other floors on the market. While 2014 has been a challenging year in a number of areas, we believe the significant investments we have made in our infrastructure and the continued implementation of our key strategic initiatives have positioned us well for future growth and operating margin expansion."

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

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