Lumber Liquidators Earnings: LL Stock Sinks on CFO Exit, Outlook

Lumber Liquidators earnings for the fourth quarter of 2018 have LL stock taking a beating on Monday.

Lumber Liquidators Earnings: LL Stock Sinks on CFO Exit, Outlook
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The first bit of bad news for Lumber Liquidators (NYSE:LL) stock comes from its CFO leaving the company. Martin Agard will be leaving LL behind on April 5, 2019. Timothy Mulvaney will serve as interim CFO for the company while it searches for a permanent replacement.

The bad news for LL stock also has to do with its revenue of $268.92 million for the fourth quarter of the year. This is an increase over the company’s revenue of $259.86 million reported in the fourth quarter of 2017. However, it comes in well below Wall Street’s revenue estimate of $272.54 million for the period.

Earnings per share in the Lumber Liquidators earnings report for the fourth quarter of 2018 comes in at 17 cents. This matches the company’s earnings per share of 17 cents from the same time last year. It also beats out analysts’ earnings per share estimate of 12 cents for the quarter, but wasn’t enough to save LL stock today.

The Lumber Liquidators earnings report for the fourth quarter of 2018 also includes its outlook. This has the company expecting revenue to be down in the negative low-single digits for the first quarter of 2019. As for the full year, it is only expecting revenue to increase in the mid-single digits.

LL stock was down 9% as of Monday afternoon, but is up 2% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/03/lumber-liquidators-earnings-drops-ll-stock/.

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