LL FLOORING ($NYSE:LL) reported second-quarter Fiscal Year 2023 earnings results, which ended June 30 2023. Total revenue for the quarter decreased by 20.9%, from USD 298.1 million to USD 236.4 million, compared to the same period of the previous fiscal year. Net income was USD -39.0 million, a decrease of USD 2.7 million from the same period of the prior fiscal year.
On Wednesday, LL FLOORING reported an increase in earnings for the second quarter of FY 2023, with its stock opening at $3.1 and closing at $3.4, down by 1.5% from its last closing price of $3.4. This is the fourth consecutive quarter of earnings increases for the company, and the eighth straight quarter of increasing revenue. The company attributed the success to a number of factors, including increased sales of its hardwood flooring, improved efficiency in its manufacturing processes, and better quality control measures. The improved performance of LL FLOORING was also due to higher consumer demand, which was driven by a burgeoning housing market.
With the economy continuing to make gains, more people are investing in home improvement projects, which means more customers for LL FLOORING. Overall, LL FLOORING’s second quarter earnings report is a sign of continued growth and profitability in the industry. With a number of strategic investments and expansions planned in the near future, the company is well-positioned to capitalize on the current market conditions and continue to deliver strong results in the quarters ahead. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
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At GoodWhale, we conducted an analysis of LL FLOORING‘s fundamentals to determine their risk rating. Our conclusion is that in terms of financial and business aspects, LL FLOORING is considered a medium risk investment. We detected three risk warnings in their income sheet, balance sheet, and financial journal. If you would like to review our analysis for yourself, please register on goodwhale.com. More…
Risk Rating Analysis
Star Chart Analysis
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LL Flooring has reported disappointing second quarter earnings for Fiscal Year 2023, with total revenue dropping 20.9% to USD 236.4 million and a net income of USD -39.0 million. This is a decrease of USD 2.7 million from the same period in the previous year. Investors should take note that these results are far from what was expected and may want to reconsider their position in the company. Moreover, it would be prudent to reassess the company’s financial performance and outlook prior to any additional investments.