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Tile Shop Holdings Tops Wall Street Estimates, Shares Make New 52-Week High

Jason BondJason Bond ·

Tile Shop Holdings, Inc (NASDAQ: TTS) reported its 1Q 2017 financial results this morning, and the company beat Wall Street estimates. After its earnings beat, shares rose over 8% and a made new 52-week high. Moving on, let’s look at the Tile Shop’s 1Q 2017 earnings.

Tile Shop Holdings 1Q 2017 Financial Results

Tile Shop reported net sales of $92.1M for the first quarter of 2017, which was an 8.8% growth rate, when compared to its net sales for 1Q 2016. Now, this growth was primarily attributed to the company’s comparable store sales growth of 4.9%. The Tile Shop’s 1Q 2017 revenue topped the Street estimate, according to Zacks Investment Research, analysts were looking for its 1Q 2017 revenue to come in at $89.7M.

The company also reported an adjusted EBITDA of $21.1M, while it reported an adjusted EBITDA of $19.28M for 1Q 2016, which was over a 9% growth year over year.

The Tile Shop’s non-GAAP net income for 1Q 2017 came in at $8.2M, which was nearly a 14% growth, when compared to its non-GAAP net income for 1Q 2016. Moreover, TTS reported non-GAAP diluted EPS of 16 cents for the first quarter of 2017. Now, when compared to its 1Q 2016 non-GAAP diluted EPS, the company grew this figure by over 14%. The company’s non-GAAP diluted EPS also beat Wall Street estimates, and according to four analysts surveyed by Zacks, the consensus estimate was 14 cents.

Tile Shop Holdings also reaffirmed its expectations for the FY 2017. The company expects its net sales to come in between $350M and $370M. Additionally, it projects its adjusted EBITDA to be between $74M and $80M. Moreover, it’s expecting its non-GAAP EPS to be between 50 cents and 57 cents.

TTS Statistics and Valuation

TTS traded in a range between $19.65 and $22.40 today. TTS has a 52-week range between  $15.05 and $22.40, the company marked a new 52-week high, as stated earlier. Therefore, TTS is nearly 40% above its 52-week low and just over 6% off its 52-week high. TTS is currently trading above its 20-, 50- and 200-day simple moving averages.

Take a look at the Tile Shop Holdings’ performance on the daily chart:


Prior to today’s earnings release, the stock’s technical pattern indicated the stock could reverse, after its 20-day SMA crossed above its 200-day and 50-day SMAs. Consequently, with this catalyst, the stock was able to breakout, with “heavy” volume.

TTS has a price-to-earnings ratio of over 50, which is well above the industry average of 22.7. The company has a book value per share of 2.691, and consequently, it has a price-to-book ratio of approximately 7.8, which is below the industry average of 19.4.

Final Thoughts

The Tile Shop reported earnings that topped analyst estimates, and shares made a new 52-week high, but pulled back thereafter. However, TTS ended the day up over 8% on the day. Now, the company reaffirmed its FY 2017 guidance, as well, so it’ll be interesting to see whether it beats analyst estimates again and if it’s on pace to meet its guidance for the 2017 fiscal year.

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