Lumber Liquidators Holdings Inc (NYSE:LL) stock was skyrocketing on Tuesday following the release of its earnings report for the second quarter of 2017.
During the second quarter of 2017, Lumber Liquidators Holdings Inc reported earnings per share of 16 cents. This is an increase over its losses per share of 45 cents from the same time last year. It also comes in well above Wall Street’s losses per share estimate of 7 cents for the quarter and is a boon to LL stock.
LL stock also got a boost from its revenue for the second quarter of the year. Lumber Liquidators Holdings Inc reported revenue of $263.50 million, which is up from the $238.09 million in the second quarter of 2017. This also has the company reporting revenue that beats out analysts’ estimate of $256.84 million for the quarter.
Lumber Liquidators Holdings Inc reported net income of $4.48 million in its second quarter of 2017. This is better than the flooring company’s net loss of $12.23 million from the same period of the previous year.
Operating income reported by Lumber Liquidators Holdings Inc in the second quarter of the year was $5.12 million. LL reported an operating loss of $19.32 million in the second quarter of the previous year.
“Although we are pleased with the results in the quarter, we still have work to do,” Dennis Knowles, CEO of Lumber Liquidators Holdings Inc, said in a statement. “Our management team is confident in the potential of our business, and remains dedicated to carrying out the long-term strategy of the Company.”
LL stock is up 31% as of Tuesday morning and is up 104% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.