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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of flooring specialist Lumber Liquidators (NYSE: LL ) were looking solid today, rising 27% after the company announced second-quarter results.
So what: Revenue for the quarter jumped 20% from last year to $210 million on comparable-store sales growth of 12.4%. Net income more than doubled and earnings per share clocked in at $0.43. Wall Street analysts were looking for $0.29 in per-share earnings on $197 million in revenue. Investors likely appreciated CEO Robert Lynch's assessment that customer demand was "consistently strong" as the company drove the strong quarterly results through market-share gains and margin expansion.
Now what: The good times aren't expected to end yet, either. Thanks to the results so far this year, along with "current trends," management boosted its full-year outlook. Revenue is now expected to be between $750 million and $775 million for 2012. The high end of the previous forecast was $750 million. Earnings per share, meanwhile, are seen coming in between $1.30 and $1.42. Before the earnings announcement, analysts had been projecting just $1.24.
No wonder investors are giddy over Lumber Liquidators today.
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