Lawson Products Announces Second Quarter 2020 Results
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Lawson Products (LAWS) Tops Q2 EPS by 19c, Revenues Beat
July 30, 2020 7:42 AM EDTLawson Products (NASDAQ: LAWS) reported Q2 EPS of $0.37, $0.19 better than the analyst estimate of $0.18. Revenue for the quarter came in at $72.1 million versus the consensus estimate of $71.77 million.
Highlights
Sales of $72.1 million decreased 24.9% year-over-year. As the quarter developed, sequentially, May Average Daily Sales (ADS) increased nearly 23% over April while June ADS increased another 6% over May. Average daily sales were $1.127 million in the second quarter of 2020 compared to $1.502 million during the same quarter 2019.Reported gross margin was 53.1% for the quarter, the same as a year ago. This was achieved despite... More