Lumber Liquidators shares (NYS:LL) rose 4.5% in premarket trade Wednesday, after the flooring retailer . Richmond, Va.-based Lumber Liquidators posted net income of $11.9 million, or 41 cents a share, up from $2.6 million, or 9 cents a share, in the year-earlier period. Adjusted per-share earnings came to 41 cents, ahead of the 19 cents FactSet consensus. Sales for 30.9% to $301.4 million, ahead of the $297.0 million FactSet consensus, driven by strong professional customer and services sales. Same-store sales rose 31.3% compared with a FactSet consensus of 29.7%. Sales were boosted by continued strong demand for home improvement projects and as consumers were more willing to allow contractors into their home as the economy recovers from the pandemic. "In the near term, we are cautious about the potential impact of continued supply chain disruptions as well as related higher transportation and materials costs," Chief Executive Charles Tyson said in a statement. The company said there is too much uncertainty to offer guidance but said it believes "it is prudent to plan for slowing comparable sales on a two-year stack basis for the second half of 2021 compared to the 10% two-year stack comparable sales we delivered in the second quarter," said the statement. Shares have fallen 38% in the year to date, while the S&P 500 (S&P:SPX) has gained 17.8%.
Aug. 4, 2021, 6:16 a.m. EDT