Floor & Decor Holdings Earnings Call Transcripts
Fiscal Year 2026
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Q1 results showed lower sales and EPS amid weak demand, but gross margin improved and cash flow was strong. Guidance for FY26 was lowered due to macro uncertainty, but investments in new stores, digital, and pro initiatives continue, supported by a $400M share repurchase program.
Fiscal Year 2025
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Q4 and full year EPS met or exceeded guidance, with sales up 5.1% and market share gains despite soft demand. 2026 outlook calls for 4–7% sales growth, stable margins, and continued store expansion, while PRO and commercial segments outperformed.
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Third quarter EPS grew 10.4% year-over-year to $0.53, with total sales up 5.5% despite a 1.2% decline in comparable store sales. Guidance for fiscal 2025 projects 5–6% sales growth, 20 new store openings, and continued margin discipline amid a challenging housing market.
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Q2 saw EPS up 11.5% and sales up 7.1%, with positive comps for the first time since 2022. Gross margin improved to 43.9%, and 20 new stores are planned for 2025. Guidance reflects cautious demand, ongoing tariff mitigation, and continued market share gains.
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Q1 sales rose 5.8% to $1.16B with EPS of $0.45, exceeding low-end expectations. Guidance for 2025 was revised to reflect economic and tariff uncertainty, with 20 new stores planned and gross margin expected to remain stable. Sourcing diversification and cost controls support resilience.
Fiscal Year 2024
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Q4 and full year results exceeded expectations with strong market share gains, improved gross margin, and robust liquidity despite industry headwinds. Fiscal 2025 guidance anticipates 6.5–10% sales growth, 25 new stores, and continued margin management amid macro and tariff uncertainties.
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Q3 sales rose 0.9% to $1.118B, with EPS of $0.48, down 21% year-over-year but above expectations. Comparable sales declined 6.4%, but trends improved sequentially. FY24 guidance was narrowed, with 30 new stores planned and continued margin improvement expected.
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Leadership transition is underway, with confidence in the management team. Store growth will slow in 2025, focusing on existing markets and flexible expansion. Macro headwinds persist, but mature stores remain profitable, and commercial business outperforms retail.
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Q2 2024 sales and comps missed expectations, but gross margin rose to 43.3%, offsetting weaker demand. FY2024 guidance was lowered for sales, comps, and EPS, with capex and store openings also reduced. Pro sales and commercial segment outperformed, and inventory and liquidity remain strong.