Lumber Liquidators (NYSE:LL) stock was falling hard on Tuesday following a surprise earnings miss for the second quarter of 2018.
The big blow to LL stock comes from losses per share of 5 cents for the second quarter of the year. This is down from Lumber Liquidators’ earnings per share of 16 cents from the same time last year. It also comes in well below Wall Street’s earnings per share estimate of 25 cents for the quarter.
Lumber Liquidators also reported a net loss of $1.45 million for the second quarter of 2018. The flooring company’s net income from the second quarter of 2017 was $4.48 million.
During the second quarter of the year, Lumber Liquidators reported an operating loss of $913,000. The company’s operating income from the same period of the year prior was $5.12 million.
Lumber Liquidators also reported revenue of $283.47 million for the second quarter of 2018. This is an increase over its revenue of $263.50 million that was reported in its second quarter of the previous year. It also beat out analysts’ revenue estimate of $280.73 million for the period, but wasn’t enough to save LL stock today.
Lumber Liquidators took time during its most recent earnings report to reaffirm its outlook for the full year of 2018. The company says it still expects revenue growth for the period to be in the mid-to-upper single digits. 2017 revenue came in at $1.03 billion. Wall Street is looking for revenue of $1.11 billion for the year.
LL stock was down 17% as of Tuesday afternoon and is down 20% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.