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Overview

Lumber Liquidators (LL) reported earnings on February 20th, with net sales of $210.7 million and EPS of $0.50 for the fourth quarter. Results were driven by a robust 13.2% increase in comparable sales and an operating margin of 11.6%. For the year, LL reported $813.3 million in net sales and $1.68 in EPS. In addition, management offered 2013 guidance of net sales in the range of $885 to $920 million and full-year EPS of $1.90 to $2.15. With the stock trading at nearly $61, the question for investors is whether or not all of this information is priced into shares.

Thesis

LL has been on fire for the past two years, rising from its post-crisis low...

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