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Sep 29, 2022
Floor & Decor Q3 2022 Earnings Report
Net sales and comparable store sales increased, with diluted earnings per share also increasing.
Key Takeaways
Floor & Decor Holdings, Inc. reported a strong third quarter with net sales increasing by 25.2% to $1,097.8 million and comparable store sales increasing by 11.6%. Diluted earnings per share increased by 2.9% to $0.71.
Net sales increased 25.2% to $1,097.8 million.
Comparable store sales increased 11.6%.
Diluted earnings per share increased 2.9% to $0.71.
Opened four new warehouse-format stores.
Floor & Decor
Floor & Decor
Forward Guidance
The company provided an updated outlook for the fiscal year ending December 29, 2022, including net sales of approximately $4,250 to $4,285 million and comparable store sales growth of approximately 9% to 10%.
Positive Outlook
- Net sales of approximately $4,250 to $4,285 million
- Comparable store sales growth of approximately 9% to 10%
- Diluted EPS to be in the range of $2.65 to $2.75
- Adjusted EBITDA in the range of $565 million to $575 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
- Our failure to successfully anticipate consumer preferences and demand
- Any disruption in our supply chain, including carrier capacity constraints, higher shipping prices and other supply chain costs or product shortages
- The inability to staff our stores and distribution centers sufficiently, including for reasons due to the COVID-19 pandemic and other impacts of the COVID-19 pandemic
- Increases in commodity, material, transportation and energy costs, including the impact such increases could have on the cost of goods sold