NYSE$FND

Floor & Decor Holdings Inc. · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

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.

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.

Headline financials

Total Revenue

$914M

Previous: $724M+26.4%
EPS (adj)

$0.44

Previous: $0.47-6.4%
Comparable Store Sales Growth

14.0%

Previous: 21.6%-35.2%
Number of Warehouse Stores

160

Previous: 133+20.3%
Net Income

$49.9M

Previous: $57.1M-12.7%
Operating Income

$61.1M

Previous: $68M-10.2%
Gross Profit

$355M

Previous: $308M+15.3%
Cash & Equivalents

$139M

Previous: $308M-54.7%
Total Assets

$3.73B

Previous: $2.88B+29.5%
Stock-Based Comp

$5.19M

Previous: $4.57M+13.6%

Revenue & EPS history

Floor & Decor · Revenue · Quarterly

$914M

Q4 2021+26.4%vs Q4 2020
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

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.

Tailwinds

  • 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

Headwinds

  • 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
  • Capital expenditures in the range of approximately $550 million to $590 million

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+1.0%

Avg return

Earnings day

+0.4%

Avg return

5 days after

+1.8%

Avg return

30 days after

54%

22 / 41 earnings

Positive

+25.0%

Q3 2018

Best reaction

-21.4%

Q2 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+4.6%+5.4%+6.2%
Q4 2025+4.9%+3.6%-24.2%
Q3 2025-8.5%-5.5%-2.1%
Q1 2025+2.5%+1.6%-0.8%
Q4 2024+1.5%+10.3%-9.3%
Q3 2024+2.9%+9.4%+12.1%
Q2 2024-0.1%-0.7%+14.7%
Q1 2024+3.4%+7.0%+6.9%
Q4 2023+7.2%+10.3%+19.1%
Q3 2023-2.6%-4.2%+17.7%
Q2 2023-8.1%-5.4%-10.3%
Q1 2023-5.2%-6.0%-3.5%
Q4 2022+2.1%+3.0%+4.5%
Q3 2022+6.0%+8.4%+17.6%
Q2 2022+11.0%+3.3%-4.4%
Q1 2022-13.7%-16.2%-11.5%
Q4 2021+9.5%+5.2%-2.4%
Q3 2021-5.2%-4.4%-9.2%
Q2 2021-4.7%-3.6%+0.2%
Q1 2021+0.8%-6.1%-13.7%
Q4 2020-2.3%-4.7%+0.4%
Q3 2020-6.2%+1.5%+4.9%
Q2 2020-6.7%-3.2%+3.7%
Q1 2020-2.0%-0.5%+21.6%
Q4 2019+7.8%+6.2%-46.6%
Q3 2019-3.0%-5.8%+4.8%
Q2 2019+12.3%+7.3%+25.7%
Q1 2019-7.5%-10.6%-25.4%
Q4 2018+3.3%+2.9%+8.3%
Q3 2018+25.0%+27.3%+29.5%
Q2 2018-21.4%-20.4%-23.0%
Q1 2018-13.2%-15.6%-10.2%
Q4 2015+4.3%+5.5%+27.4%
Q4 2017-1.9%+2.3%+15.6%
Q3 2017+6.4%+3.2%+6.7%
Q3 2016+6.4%+3.2%+6.7%
Q2 2016-5.5%-7.0%-9.1%
Q2 2017-5.5%-7.0%-9.1%
Q1 2017+13.8%+5.3%+11.5%
Q1 2016+13.8%+5.3%+11.5%
Q4 2016+13.8%+5.3%+11.5%
Q4 2014
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013

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