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Dec 30, 2021
Floor & Decor Q4 2021 Earnings Report
Floor & Decor's financial performance decreased in Q4 2021, with net sales increasing but earnings per share decreasing. The company opened seven new warehouse stores and ended the quarter with 160 warehouse stores and two design studios.
Key Takeaways
Floor & Decor's Q4 2021 results showed an increase in net sales by 26.4% to $914.3 million, but a decrease in diluted earnings per share by 14.8% to $0.46. Comparable store sales increased by 14.0%. Operating income and net income also decreased.
Net sales increased 26.4% to $914.3 million compared to Q4 2020.
Comparable store sales increased 14.0% compared to Q4 2020.
Diluted earnings per share decreased 14.8% to $0.46 from $0.54 in Q4 2020.
Operating income decreased 10.2% to $61.1 million compared to Q4 2020.
Forward Guidance
Floor & Decor provided its sales and earnings outlook for fiscal year 2022, including net sales of approximately $4,285 to $4,375 million and diluted EPS to be in the range of $2.75 to $3.00.
Positive Outlook
- Net sales of approximately $4,285 to $4,375 million
- Comparable store sales growth of approximately 10.5% to 13.0%
- Diluted EPS to be in the range of $2.75 to $3.00
- Adjusted EBITDA in the range of $575 million to $610 million
- Open 32 new warehouse-format stores and four small design studios
Challenges Ahead
- Depreciation and amortization expense of approximately $151 million
- Interest expense, net of approximately $7 million
- Tax rate of approximately 24%, excluding tax benefits resulting from stock option exercises and the vesting of restricted stock and restricted stock units
- Diluted weighted average shares outstanding of approximately 108.4 million shares
Historical Earnings Impact
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Avg. Return Before/After Earnings
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