LL Flooring Q1 Earnings Dented From High Interest Rates And Inflation, Dodges Outlook
Portfolio Pulse from Shivani Kumaresan
LL Flooring Holdings, Inc (NYSE:LL) reported a significant decline in Q1 FY24 sales by 21.7% year-on-year to $188.49 million, missing analyst estimates. Comparable store sales dropped by 21.5%, and adjusted EPS showed a loss of $(1.04), also below expectations. Despite a gross margin increase, the company faced an expanded operating loss and cited challenging business conditions due to weaker home sales, high interest rates, and inflation. LL Flooring is not providing financial guidance due to macroeconomic uncertainties.
May 08, 2024 | 12:27 pm
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LL Flooring reported a significant Q1 FY24 sales decline and an adjusted EPS loss, missing estimates. The company cited challenging conditions and is not providing future guidance, impacting investor sentiment.
The reported decline in sales and earnings, coupled with the absence of financial guidance, reflects negatively on LL Flooring's short-term financial health and investor confidence. The premarket share price movement suggests a negative market reaction.
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