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LL LL Flooring

Participants
Julie MacMedan Head, IR
Charles Tyson President and Chief Executive Officer
Nancy Walsh Chief Financial Officer
Laura Champine Loop Capital
Seth Basham Wedbush Securities
Call transcript
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Operator

Ladies and gentlemen, hello and welcome to the Lumber Liquidators Holdings, Inc.

Third Quarter 2021 results conference call. My name is Maxine and I'll be coordinating the call today. [Operator Instructions] I will now hand over to your host, Julie MacMedan, Head of Investor Relations to begin. Julie, please go ahead when you are ready.

Julie MacMedan

Operator. you, Thank and everyone, for us. joining Good thank morning, you Charles President Walsh, and Today, Chief I Executive our by joined Nancy am Chief Tyson, Officer; Officer. Financial our and

of reference As operating let call and the LL significant may that of forward-looking the risks the statements conference U.S. Flooring. forward-looking financial subject Safe statements. we performance This securities me future Harbor are begin, contain and for laws including provisions to uncertainties,

are reflected with Although of can from reasonable, cause are LL materially prove those differ statements in believes Important its Flooring could Flooring's such its any factors results SEC. correct. risk statements will it included LL expectations no or in reflected the that the statements assurance to in give be to forward-looking filings actual that forward-looking that expectations forward-looking the

call, During will are non-GAAP to financial today's adjusted release. why explanation results basis. financial on earnings discussed most of reconciliation discussing measures directly an be measures be of useful comparable measures GAAP may non-GAAP our the today's A in conference and financial management the

information spending. this consumer remain date to this and in we will discussed any to contained today's underlying in financial the COVID-XX Flooring today, call In the only of because related our information presentation given the XXXX believe to of should Investors performance call. to and two-year will no a discussed. true call, be basis, the we LL The discussing addition, two-year helpful the volatility not as after is in obligation on accurate effects understand during the both investors our of one on assume update business, the operative undertakes trends statements is business that in

to Charles pleased President am Charles? Tyson. I CEO, and Now introduce

Charles Tyson

Thank Good everyone. morning, you, Julie.

operating challenging network at our expanded a a products customers' sourcing exceed a great of quarter new a partners. the from They chain demonstrated across by they are They over of find of to vast helped selection needs locations value associates innovative love sourced SKUs. in supply from our XXX environment. continuing customers tremendous agility launching broad During third our and global floor

is report were All in and a growth the sales of sales Pro on to in We pleased XXXX two-year installation customer reflected strong quarter this net double-digit basis. profitability third last sales versus in our effort of year. growth and

outlook term details sales grow share we the to will for quarter a over combination sales anticipated, and quarter DIY in DIY provided comparable resulting our for our in in Nancy are QX As a for variant. offset the increasingly sales our basis down second QX which said, her longer in home-improvement constraints chain we Both decrease in potential the store of in Last shifts, XXXX. tough ability slowing growth comparable of quarters our prepared versus comparisons spending XXXX. on and helped store That for of the the comparable of stack Delta more said, the enough of half XX.X% comparable DIY of on sales drive store and demand XXXX% to not X.X%. this was third the XX.X% COVID-XX two-year the outlook increased consumer of to X.X% inventory potential quarter replenishment, strong phenomenon on last being results of impact financial That quarter supply and third second customers. fourth third demand outlook nesting confident given about to compared versus in the the two-year remarks. the half year, third sales and challenging stack XXXX basis QX represent sales,

hard position for DIY do-it-for-me and first Pro do it choice strategies our now in Turning that customers Flooring for flooring. the to LL will growth as surface

made pillars; and we've progress and Our people the profitability. strong experience, culture, improving improving and our transactions, strategic the customer two-year traffic reflects significant on driving performance

QX, number new growth posting opened and sales install new opened we since year-to-date, In six highest of the Pro stores addition stores with during double-digit XXXX. to in XX the opened quarter

two improve our profitability significantly we've past years want we where our demonstrated ability how win on the with focus to Over to sharpened customers. and we as

also two During good our this programs Today, these new increasing time are about drive by growth. pillars, LL seeing in in to foundation to traction our including pleased strategic areas. investment advance we feel the and Pro built sales our underlying growth several customers' and flooring accelerated over stores. the initiatives innovations plans the years announce very our we to response key we're next to pilot our numerous customers' branded We the

we First, customers. local the online and making pickup to open stores omnichannel Pros of service services for more year enhances number per DIY convenience, valued to increase take buy to our such enhance we store. easier advantage new also it customers their of new as highly store availability for The to plan in

expand to investment to our multipronged grow plan we sales our strategy customers. Pro Second, with in

to half We topline operational to spend investments growth of XXXX incremental expect XXXX. these and in in and beginning both increased capital result drive in the second

more on quarter. performance our to during details the now Turning

customers. driven on customer First, year, versus continued the Pros our of Pros. continued momentum double-digit to component a Pro teams internal strength Pros. Sales types whom long-term by to experience customers growth initiatives our strategy for a execute Pro last improve report we're key growth Pro flooring multi-pronged to QX traction and as customers quarter service focused record with we work. pleased both We're our to of across our is all seeing sales to strategy marked sales and

is retention customer. Pro greater and relationship Pro First, our per customer sales driving higher Pro program

to through Pro Starting we and reps with number we this rep we're account the are Pros expand account this sales our brand in to of Through the the experienced XXXX. have of one program program our results plan new QX to Pro program. our Second, excited stores. from in outside broadening XXXX, not of reach sales increase who

on pricing, Pros unique that Pro that the with and business do Fourth, for everyday it Third, we extend our them market. they very our continue makes website our easier to engaged dedicated are pros feedback to in can loyalty builds program customers. to our offer This from get very Pro their represents with Pros positive with us. a

competitive levels histories. and also job In every showing that to a customers, allowing them experience real-time to pricing them Pros pricing as day inventory gives web well extend addition to as access their to their across stores the

strategies is robust We roadmap of who to create for website progress an look increase the reflected Each others functionality. proud reporting are fifth, elevated the still calls. now our are our our on brand is executing well complementing the Pros with and to to in experience customers. the early future our in Pros recommend these we Flooring And to new resonating LL Pro quality us their to stages in of forward

to addition in installation In XXXX, being their of sales double-digits to due primarily success comprise up our with net traction internal services were with consumers initiatives versus Pros, home. and on both sales professionals comfortable more

qualified We team a match our contractors. for are which Floor them insulation emphasizes our services, our quality with the is with installation through inspiration we installation customers offering installation. service new by driven Love Installation our of and independent provide from to core awareness we broad growing pleased network end-to-end our the brand campaign

our to the better roadmap make associates execute customers. and our digital continue for to installation the We for process even

Turning DIY. now to

quarter to COVID-XX for confident to anniversary supporting transactions, year's last spending. traffic the strategies LL and continued we sales saw customer experience to improve customers due DIY and transactions. DIY drive tough our include the in challenging customer near-term experience particularly Transformation strategy anticipated and and in awareness initiatives improving comparisons our driving the we for In brand. traffic the growth of our we nesting comparisons; we're however, we build As as the the over expect third increased long-term Flooring

offer traditional for exclusive waterproofing floors. Pros it the to which a we manufactured tapping Stewardship Based [ph] waterproof high sourced to of trend category. from selection our collection, merchants industry-leading the trend over of flooring is to recognize the a plus our positively responsibly and is category, First, thrilled launch free provide products, with everyday latest assortment protection are right managed DIY The Pros. merchant our of spills install and unprecedented performance we also strengthening mechanism the for PVC that States. customers from accidents. right, is new launch exciting is easy from best to and flooring partners sourcing team user-friendly early characteristics sourcing global I'm forests eco-friendly, want is this Duravana of launched results, diversify two into quality vinyl new who broad recent and to XXX% of and new a our product continue on how talented XXX in create innovate In draw for great example products. our and team the customers. network flooring, our Resilient Americana by a of technologies; to our and big making the to United assembled Council. consumers is further announce flooring to certified to our which premium also is new Duravana plank as Duravana double innovative flooring. further the It's time-saving August, strategy, locking which Hybrid Europe board watertight our Forest combines combines flooring of I technology reacting

hard introductions for position further a leading as team calls. future will merchant new for developed quality we on Our a our to forward surface flooring look and sharing of has destination product strong pipeline XXXX bolster that more

us. convenience, omnichannel competitive a which for to core is advantage now Turning

increased We quarter, experience third sales to through llflooring.com stack XXX% than continue X-year the during digital a our on and basis. enhance our digital more

improve average tools that experience. grow selected AI their they’ve to recommended website flooring new our implemented and our our projects have attachments customer further complete ticket home and We the customers on llflooring.com to the show

Our our channel The and of through in catalogue, breadth highlights it. line. our customers picture for quality recently access on product well our inspiring with llflooring.com order on you which brand our and for launched can key theme brand website print. is represented of tools building site the or a catalogue educational The is new them Love and elevation our the based and in Floor brand like is content full

new a are the the Flooring about surface our journey feel Flooring positive to awareness well perception We build We and and store good on feedback the establish leading receiving underway. LL and equity long-term Pros flooring. quality LL rebranding from the on we're brand for of homeowners destination brand is and hard as

interior better reflects a important through strategy omnichannel driver convenience number is plans year. our promise. This of estate and to appealing we new new creating that openings experience growth. modern to and an real our lighter, stores me the the environment brand leads elevated Increasing of exterior We’re of more accelerate and future our store open per our store

count value store our in customer showroom and chain centres, can During best increasing brand. we who opened with XXX. stores inventory that convenient the including is the new The and both and in retail attractive concept X to efficiency showrooms fulfil serve target total smaller where only third Flooring associates staffed We LL locations the concepts experienced through allow our neighbouring we our to warehouse X stores, supply us quarter select bringing market. customers reach only

We calls. strategic to future and store on the deep second our showroom best will opportunities. opening report into call our success you term conference only the longer of portfolio stores our of continue August estate announced a quarter monitor On XXXX, and review we our in dive back real to

which our a store of that we potential investment, estate form on of During number locations substantial process the foundation new attractive real with strategy. identified return

We’re integrating needs and more of our that into both retail customers to the locations DIY meets identify Pro convenient process alike. attractive analytics sophisticated

Our and XX and targeting XXXX, a data-driven with strong openings strategy openings, of up over new Starting all number to our sheet next supports the standard years. XX format, from store new we’re three greater balance in a in stores of these convenience closer we year. appreciate services, the XX be buy more net Pro this who DIY customers, to Through store. online of pick local and of will new our up including

plans our As future strengthen attractive experience, forward footprint to our XXXX we you calls. convenient locations flooring in and will customer retailer, and national store expanding beyond updating our on a on look

we of and work great of our our Turning have as our initiative, to and employer associates. increased of an underpinning is strengthen market for our talent and choice. position all team to never The has this competitive investments been People Culture execution more

making wages and attractive more a commitment equity financial that in culture we've training diversity, a Entry potential inclusion, associates to significant to building field development. career addition to and company increasing level embraces we’re strong and investments made organization. career incentives, can forward paths look our In within creating multiple and

offer we they help our development and attracted that development programs career them us the valuable Our tell associates to are extensive opportunities build learning that skills. and

consumer the some spending. demand, earlier spoke to of I headwinds near-term about DIY now to Turning

we home medium remains see Over term however, Pros demand drivers consumers. and for longer and improvement for housing the spending strong backdrop The both positive.

points Some value their home this a market into for new a rate appreciation competitive existing large making retail for than Millennials ongoing rather key bodes homes cohort homes the housing home. the gives well confidence buying generational homeowners, in supporting home low an are up in increasingly investment represent more and in who are, moving particularly consumers interest new improvement, renovating environment.

continued this savings pipeline. at are consumers supply high. supply in the high elevated an face demand all-time biggest The This constrained which chain and rates remodelling in are material a addition, remodel costs. a all-time with at is In challenges immediate in and environment, an navigating financial meeting is healthy shape strong we strong project chain and index reflected

remain the supply continuing costs. transportation limit availability to constrained expect increased to and into material XXXX chain We and inventory

over shared an third we several capacity meet facing we more raw backups related to from and we demand. quarter and the as both domestic we hardwoods. bring manufacturing shipping standpoint. As would if capacity we international standpoint, international have China had of our the Vietnam in starting inventory as well COVID with labor manufacturing to an From ocean past S. the material In around to quarters, U. have port posted you shutdowns backs receipt We're began see limited shortages available in results and in to carrier late globe the net believe have sales an product constraints stronger unfavorably in pull constrained outages. from supply particularly optimal And impacted due overseas. in power ability the of September, have

so and move to network sourcing launch products such inventory China levels. sourcing Duravana. products Our to supplier are value. as pricing, exciting of out well of chain can the consumers by teams develop These globe deliver right optimal vendor we partners us at great actively diligently our new as as and allow moves new trend assortment to competitive innovative proven working our both to agility a supply merchant expanding We've improve across a at to

use to containers. the to market We secure are able spot more

we While customers. will consistent believe increased the for above which important a significantly to secure historical gross container it's of costs have flow be levels to goods our headwind margins,

our the the billion of smaller and diversification sourcing to long-term, hard surface retailers who competitive flooring particularly over Our comprise product market. compared innovation than strengthen independent advantage further more XX% $XX the flooring roughly

continue persistent vendor to through transportation products imported We China, from look will strategies and as as and higher country mitigate material sourcing. promotional well costs certain pricing and alternative on and to tariffs

with will quality always, a customers at As our competitive for is products great goal we and deliver value our remain highly the to market.

quarter, continue well quarter improvements also the and third year, expense installation third demonstrated versus of pillars we sales through to and sales will our during and in productivity. growth disciplined Pro We a growth In last to savings achieve the strategic management as basis. as invest well significant while on profitability efficiency two-year as as closing, looking strong

we our portfolio hard retailers. We product continue We strong bring and we innovate to national to to in our diversified the that leading-edge remain flooring independent consumer smaller confident the other relative sourcing. surfaced will value as

new we're we've excited in future the of multi-pronged has per increase Flooring. the solid been number very Despite LL locations about openings sales XXXX. Pro the optimizing accelerate to growth of to positioned on potential to store strategies As today's execution never year us new starting customers. more environment, from in And about volatility the open we our excited

accelerate now much position our environment, share emerge details our growth on to continue and in to will quarter. Nancy? will chain We long-term the look the challenging supply of make to call company. quarter. progress strategies Nancy next to today's a us stronger from that will the We to over investments forward turn reporting I financial

Nancy Walsh

everyone. morning, good and Charles, Thanks,

third more installation pleased results make non-GAAP Please to in we with that begin, what said, double-digit press eliminate are today, for of numbers which sure be indicative that to post sales these our Before third I'll Pro not Reinforcing to customers release customers. sales, of results. underscoring service growth I items during quarter core our like everyone quarter I'd XXXX refer certain adjusted business very knows and momentum growing were the details. to discussing Charles

of year believe the down However, as a the spending, total due COVID-XX quarter impact decrease of one anticipated, for on consumer and DIY a comparisons, sales growth did basis. supply we to indication net in of our underlying the business We sales third and comparable performance tough on continued provides quarter two-year and year-over-year our strength the the sales to however challenging environment. pulled our XXXX. demonstrate strong sales net We given of better customers profitability versus chain the

quarter and XX.X% increased a third X% to sales, due ticket X.X% X.X% decreased in count sales, a compared well average compared higher When the I one and versus customers. DIY of installation two-year merchandise to to increase XXXX. the XX.X% a decrease result, as in greater third partially discussion, due quarter, my service driven quarter decrease service sales. merchandise higher improved and in ticket, sales was the This or As offset the net reflecting transactions $XX.X X.X% was lower $XXX.X We decrease during results a as a third XX% net of to the XX.X% XXXX, increase quarter sales. net basis. average sales million, million our net DIY will to third review ticket, period increase a in in in decreased of by of by that sales X.X% net In in merchandise a mix a saw on and Average same transaction XXXX, sales reflecting both XX% sales.

store the XXXX of but stack XXXX, third comparable two-year X.X% As on basis. increased quarter decreased Charles X.X% sales third noted, a versus quarter

compared XXXX, gross strategies XXXX margin Turning the the of the gross The network now XX.X%, to promotion compared sourcing XXXX XXXX. related million XXXX, interruption adjusted the increased Adjusted settlement in of quarter and million of and and by for margin basis and primarily year's expense gross to which and for were transportation of our XXXX of third higher profit. quarter higher XXXX more to were XXXX in alternative and of XXXX points, security and not decrease reflects the was insurance alternative XXX our in XXXX adjusted third one-time well incident million costs, higher to the that in strategies. that to country XX material mitigated third $XX.X million initiatives million, million third year, $XXX.X to business this increased $XX.X tariffs, to was XX.X%, compared which country third Adjusted vendor $X.X primarily higher basis final SG&A than able $XXX.X growth profit XXX more favorable versus reflects gross up the was collectively quarter and and expense points, in quarter SG&A XXXX reflecting partially than quarter claims August pricing, field as investment in XXXX. sourcing $XX.X material last XXXX. $XX.X XXXX costs. XXXX and as repeated was The and vendor Compared mitigate transportation Adjusted and significantly quarter adjusted the respectively. gross we point basis margin in pricing, million in promotion in XX.X% third XXXX,

to third XXXX percent increase from mentioned, factors the as as deleveraging XX.X%, adjusted the of SG&A As an XXXX of net net for XXX the basis lower points third just due a sales, of sales. of I well quarter on quarter was

and in the variability effective In XXXX $XX.X basis expense to of rate $X.X months of margin to second with of on progress annual by third $X.X $X due tax repayment recognized the a driving the provision tax XX% of our of of SG&A good third Adjusted or of uncertainty. in income of for compared organization to compared quarter Adjusted for of for basis the during expense earnings of third of for to in to to adjusted X.X% an and million, the compared The quarter teams rate XXXX. basis by XXXX. is third disciplined costs, tax the decrease adjusted higher of quarter XXXX sales. improvement points ended operating million in quarter of on because third compared third $XX.X effective XXXX an prior for XXX million quarter adjusted to $X.XX expense material earnings merchant per third tax quarter of X.X%, net of million basis dollars higher earnings $X.XX we of transportation XXXX. The XXXX strategies XXXX or quarter quarter all was in discreet tax debt XXX two-year income reported $X.X of the share in and the $X.XX XXXX. the outstanding XXXX. earnings the income the our XX% of of However, from of quarter of operating overall X.X% The increase was period, sourcing higher million XX, compared a $X.X mitigate a an $X.X rate in our to quarter effective million earnings using XXXX. tax estimated adjusted expense XXXX third increased points of of rate quarter margin and of compared million adjusted Adjusted million and when adjusted XXXX, to of of initiatives, reflect million, year and earnings diluted XXXX XXXX. the of $XX.X third our $XX.X profit on for income $XX,XXX driven decreased COVID-XX compared the operating million, September expense XXXX, Adjusted and XXXX, we In compared leveraged the other the of decrease third $XXX,XXX points quarter of other to $XXX,XXX management. for for but an third XXX from was implementing three XXXX,

third driven inventory million, sheet, inventory at the supply and $XXX XXXX. reduction was of the year-over-year X% replenishment. primarily June by at at The continued September $XXX the XXXX $XXX balance to was end million the compared to end end constraints now chain on the million quarter of of Turning in

balance remained strong. sheet Our and liquidity

quarter $XXX outstanding during a entire reminder, the of we of million debt XXXX. As repaid the second

liquidity As of and of Net equivalents, availability provided September of of we nine for activities million XX, $XX.X XXXX, million XXXX, by $XXX million capital million working cash comprised $XXX cash driven and under of changes. XX, agreement. of ended operating and had primarily $XX.X months cash credit $XXX million September was excess the the by net income positive

work we levels, continue to to We cash rebuilding so. to by working to use our do activities toward optimal inventory and and expect operating provided capital

fourth now Turning the XXXX. quarter of to

meeting demand our Our and an we challenging increasingly as teams are environment. remaining agile supply navigate chain for flooring customers

macro in related spending, disruptions, labor consumer market. supply inflation navigate to continue uncertainty a global environment and the to challenging We chain

with gaining in the a are As are pleased I comparisons service momentum traction result, What Pro financial our installation can the DIY that challenging guidance quarter. continue into the we is providing we initiatives we share to fourth That this expect we on our the time. are sales. said, and and not at transformation customer

inform we through fourth of investments expect third to of as through. spending quarter monitoring to the we to and market to the promotion transportation respect will goods XXXX costs material in in as increase and sell we pricing compared sales higher the costs in while continue the SG&A adjusted look that persist addition, our material transportation quarter these XXXX, to Note our guide during increase With will costs our anticipate organization. higher and income decisions. the as through to In offset quarter field fourth and strategies and we statement a SG&A, percent flow

sales $XX of of digital. $XX broad two-year strong the to initiatives, our In continue summary, rebranding chain basis, challenging delivered in the in solid environment. stores, scale even investments stores, we million profitability XXXX, on supply navigate a to million We investments third demonstrating in growth we expect transformation a and the for progress as CapEx XX primarily new and on approximately quarter our of opening

flexibility growth your growth remains this with questions. XXXX, and strategic financial strong morning. liquidity Our the entire the for to that, our to organization initiatives, success. call driving position time in on the you and all focused and sheet profitability moderator balance With our provide long Thank fund open term for us and I'll LL ask up Flooring to

Operator

from comes first from [Operator Laura Instructions] Champine Our Capital. Loop question

Your line now open. is

Laura Champine

for expense, taking year? my which morning. how think the is much wage SG&A and you how about increasing increased Pro staff question. impacting next just in starting inflation is in of much It's to Good Thanks the QX that investment general just I sales out, QX, called devoted

Charles Tyson

Yes, good morning, for Laura. Thanks the call.

perspective As differentiator we've us proposition. pricing. you to we value digital because is our Pro launching at from know, And which outside don't, journey for our get both a Pro sales and differential of critical Pros some everyday as out investments been our on launching a building of made a Pro we've pricing, buy significant team well as

we sales results. So with with the very this outside have pilot pleased force our been and running we're

to and allows continue outside get next we And broader to as so, year, move quarter, And through us stores. both for from add that our that reach capability. we this will

next about. is element and between XX acceleration XX SG&A second obviously the for The that year of store we stores expanding talked

invest us As positions noted, of developed going training critical help you our talent. retain pathing. our wage We've in we're we the career market, that some expertise is It is It additional market the retain people. added for critical part hire to We've a to and is strategy. aggressive. or and talent

our chat investments that come strategic on grow will visit us when as continue making right we're channel customers to through company. think segments, as both video, people they strategic we we as growth front so making long-term And our in in and experts the sure for have Pro door invest or we well and this installed or

Laura Champine

Great, thank you.

Charles Tyson

Laura. Thanks,

Operator

Seth comes Basham from Wedbush Instructions] from next [Operator question Our Securities.

go Your is open. ahead. Please now line

Seth Basham

much and morning. last grew and including around than lower terms lot coverings a manufacture the XX% well were Thanks as, But your in supply market My question of appreciate cetera. quarter, as Floor is, et sales good shipments, your Catalina that. efforts chain,

And You hardwood results think flooring think compare do you market? growth? representative your is market the with retail this how

Charles Tyson

through is a way they is lot that I that, yesterday again that's flowing there so good sales a question. Yes, the and going that was report in of manufactured report even Yes, actually state that product the in. estimating and in Catalina challenges

retail yes, inputs lumpiness in are so sales proxy of there's right, for out, a of a terms it's coming. chain but lot supply And that

long-term that both our believe are our we market So and to which is share growing brand. our business said strategy critical we Pro we across our of install repositioning

improve optimization and to experience on business. traffic, particularly Pro through growing as We improving both as the are business well the customer referral our DIY working marketing

got so, to have And better the those I we've equal manufactured indication think share. really Catalina over out. quarters watch a then to see estimates we'll couple relate think to how of of how market things And next I

Seth Basham

okay. Yes,

you on one-year DIY losing two-year basis and share on you're possibly So considerable share think certainly basis? a the losing side, on a

Charles Tyson

not I estimates Catalina we DIY said didn't what's in referring I'm this considerable on based themselves say your terms experience. of are that use to is I working crisis. on particularly its of said through really Catalina accurate, share, improving which our But happened

next all the businesses terms share. I quarters in will across ourselves as to do invest few continue what going think, over around of to we're so we And of we our judge

Seth Basham

with secondly, they can then Pro their And to okay. their that website, Yes, online the initiatives mentioned, pricing of with extend customers. some you

their adjust to can pricing customers or essentially offering the pricing Pros, through consumers see? Pro you that are So Pros

Charles Tyson

Yes, so to they use us. at Pro they're get our that obviously, retail can folks their price. choose And and to other price, Pro differentiated with a whether referral pricing Pros as a the customers unlike buys the registered where

terms we're their or overall Pro our excited flexibility program that in know of enhancing we've is been and feedback to customers choose And our use we foundational out So to giving they getting customer as through that on that from that that this program. really our by build loyalty can we Pro the is profitability. their the them

Seth Basham

bit Pro's pricing you factors? other offering based little types a relative provide to vary more on you on of or color Can volumes DIY purchase how and are discounts lists, what those

Charles Tyson

Seth, Yes, really that's competitive so highly information.

with going not level share you. that detail I'm So to of

Seth Basham

very much. thank you All right,

Charles Tyson

Thanks Seth.

Operator

registered, questions no back I'll have [Operator to so it Instructions] hand We you. currently

Charles Tyson

us performance and Thank our on over Operator. runway to and quarter. competitive the want updating forward reiterate everyone widen you, for our safety next to and everyone good significant Thanks, our growth long-term. we excitement look the around to Wishing ability today. advantage for our I health you ahead joining

Operator

this Ladies call. you today's gentlemen, and for joining. Thank concludes

lines. may disconnect You your now