Lumber Liquidators Holdings (NYSE: LL) reported second-quarter earnings of 7 cents per share, which met the analyst consensus estimate.
The company reported quarterly sales of $288.567 million, which missed the analyst consensus estimate of $291.49 million by 1%. This is a 1.80% increase over sales of $283.474 million the same period last year.
"Results in the quarter were generally in line with our expectations and reflect our efforts to mitigate the impact of increased tariffs on our near-term financial performance while also positioning the company for long-term success,” said CEO Dennis Knowles.
“With the increase in tariffs, we continue to manage costs through diligent vendor negotiations, opportunistic alternative country sourcing, and ongoing supply chain optimization. We also selectively implemented retail price increases late in the quarter to further mitigate the impact of rising tariffs while, at the same time, ensuring we deliver a strong value proposition and remain competitive in this dynamic environment."
Lumber Liquidators cuts it fiscal year 2019 sales growth guidance from mid-single digits to low-single digits.
Shares were trading down 5.9% at $7.75 in Wednesday’s pre-market session. The stock has a 52-week high of $19.58 and a 52-week low of $7.86.
Energizer Holdings Reports Q3 Earnings Miss
See more from Benzinga
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.