Lumber Liquidators Holdings Inc (NYSE:LL) stock was taking a dive on Tuesday after it reported an earnings miss for the first quarter of 2018.
During the first quarter of the year, Lumber Liquidators Holdings Inc reported losses per share of 7 cents. This is an improvement over its losses per share of 93 cents reported in the same period of the year prior. However, it is bad news for LL stock by coming in below Wall Street’s losses per share estimate of 3 cents for the quarter.
Lumber Liquidators Holdings Inc also reported a net loss of $1.97 million for the first quarter of 2018. This is better than the company’s net loss of $26.37 million that was reported in the first quarter of 2017.
Operating loss reported by Lumber Liquidators Holdings Inc for the first quarter of the year came in at $1.45 million. The retailer of hardwood flooring reported an operating loss of $25.42 million for the same time last year.
Lumber Liquidators Holdings Inc also reported revenue of $261.77 million for the first quarter of 2018. This is up from its revenue of $248.39 million that was reported in the first quarter of the previous year. It also comes in above analysts’ revenue estimate of $260.42 million for the period.
Lumber Liquidators Holdings Inc took time in its recent earnings report to reaffirm its guidance for the full year of 2018. It is still expecting revenue growth for the year in the mid-to-single upper single digits. Wall Street’s revenue estimate for the year is sitting at $1.10 billion.
LL stock was down 17% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.