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Jun 30, 2022
Floor & Decor Q2 2022 Earnings Report
Net sales and comparable store sales increased, while diluted EPS decreased slightly, but adjusted diluted EPS increased.
Key Takeaways
Floor & Decor Holdings, Inc. reported a 26.7% increase in net sales to $1,089.8 million and a 9.2% increase in comparable store sales compared to the second quarter of fiscal 2021. Diluted EPS decreased by 1.3% to $0.76, while adjusted diluted EPS increased by 4.1% to $0.76.
Net sales increased by 26.7% to $1,089.8 million.
Comparable store sales increased by 9.2%.
Operating income increased 8.0% to $106.4 million.
Nine new warehouse stores were opened.
Forward Guidance
The company provided an updated outlook for the fiscal year ending December 29, 2022, including net sales of approximately $4,290 to $4,330 million and comparable store sales growth of approximately 10% to 11%.
Positive Outlook
- Net sales of approximately $4,290 to $4,330 million
- Comparable store sales growth of approximately 10% to 11%
- Diluted EPS to be in the range of $2.65 to $2.80
- Adjusted EBITDA in the range of $565 million to $580 million
- Open 32 new warehouse-format stores and four small design studios
Challenges Ahead
- Global inflationary pressures on raw materials could cause our vendors to seek further price increases on the products we sell
- Any disruption in our distribution capabilities, including from difficulties operating our distribution centers
- Any disruption in our supply chain, including carrier capacity constraints, higher shipping prices and other supply chain costs or product shortages
Historical Earnings Impact
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Avg. Return Before/After Earnings
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