Tile Shop Holdings Posts 42% Growth In Q2 Revenue, Notes Margin Expansion

  • Tile Shop Holdings Inc TTSH reported second-quarter FY21 sales growth of 42% year-on-year, to $96.2 million. Comparable Store Sales increased 41.6%.
  • The gross margin expanded 200 basis points Y/Y to 69.1%. The operating margin was 7.9%, and the operating income was $7.61 million.
  • Adjusted EBITDA of $15.4 million rose 132.7% Y/Y, and the adjusted EBITDA margin expanded 620 basis points to 16%.
  • EPS was $0.11, compared to a loss of $(0.02) last year.
  • Tile Shop held $45.4 million in cash and equivalents as of June 30, 2021. Net cash provided by operating activities for the six months amounted to $41.9 million.
  • "We have made significant progress toward achieving our goals of growing revenue and improving our overall profitability in 2021," said Cabell Lolmaugh, CEO.
  • Price action: TTSH shares are trading higher by 0.80% at $7.53 on the last check Thursday.
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