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Jul 01, 2021
Floor & Decor Q2 2021 Earnings Report
Reported record financial results, driven by strong execution, growing brand awareness, and a favorable economic environment.
Key Takeaways
Floor & Decor Holdings, Inc. reported a strong second quarter of fiscal year 2021, with net sales increasing by 86.0% to $860.1 million and comparable store sales increasing by 68.4%. Diluted earnings per share increased by 156.7% to $0.77. The company also completed the acquisition of Spartan Surfaces, Inc.
Net sales increased 86.0% to $860.1 million compared to Q2 2020.
Comparable store sales increased 68.4% compared to Q2 2020.
Diluted earnings per share increased 156.7% to $0.77 compared to Q2 2020.
Completed acquisition of Spartan Surfaces, Inc.
Floor & Decor
Floor & Decor
Forward Guidance
The company updated select annual guidance for new store openings and certain other financial measures that it believes it can reasonably forecast.
Positive Outlook
- Depreciation and amortization expense of approximately $115 million to $117 million
- Interest expense, net of approximately $5 million
- Tax rate of approximately 24%
- Diluted weighted average shares outstanding of approximately 107 million shares
- Open 27 new warehouse-format stores and two small design studios
Challenges Ahead
- Capital expenditures in the range of approximately $455 million to $475 million