Lumber Liquidators Issues Q2 EPS Outlook; Cuts FY14 Outlook - Quick Facts

(RTTNews) - Lumber Liquidators (LL) announced that it expects second-quarter earnings per share to be in the range of $0.59 to $0.61. Analysts currently expect second quarter earnings of $0.90 per share.

The company said net sales in the second quarter increased 2.3% to $263.1 million from $257.1 million in the prior year period. Analysts expected revenue of $303.21 million for the quarter.

At comparable stores, net sales decreased 7.1% for the quarter. The company operated 344 stores at June 30, 2014, including 13 new stores opened during the second quarter, up from 300 at June 30, 2013.

For full year 2014, the company lowered its earnings to a range of $2.65 to $3.00 per share, from its prior range of $3.25 to $3.60 per share. Analysts now expect full year earnings of $3.34 per share.

The company now expects net sales to be in the range of $1.05 billion to $1.10 billion, down from its prior range of $1.15 billion to $1.20 billion. Analysts currently expect revenue of $1.16 billion.