NYSE$FND

Floor & Decor Holdings Inc. · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported better-than-expected fiscal 2022 fourth-quarter earnings, marking 14 consecutive years of comparable store sales growth.

Floor & Decor Holdings, Inc. reported a strong fourth quarter in fiscal 2022, with net sales increasing by 14.6% to $1,048.1 million and comparable store sales growing by 2.5%. Diluted earnings per share increased by 39.1% to $0.64, and the company opened 13 new warehouse-format stores, achieving its goal of opening 32 warehouses in fiscal 2022.

  • Net sales increased 14.6% to $1,048.1 million compared to Q4 2021.
  • Comparable store sales increased 2.5% from the fourth quarter of fiscal 2021.
  • Diluted earnings per share increased 39.1% to $0.64.
  • Opened 13 new warehouse-format stores during the fourth quarter, ending with 191 warehouse stores and six design studios.

Headline financials

Total Revenue

$1.05B

Previous: $914M+14.6%
EPS (adj)

$0.64

Previous: $0.44+45.5%
Comparable Store Sales Growth

2.5%

Previous: 14.0%-82.1%
Number of Warehouse Stores

191

Previous: 160+19.4%
Net Income

$69.2M

Previous: $49.9M+38.8%
Operating Income

$94.7M

Previous: $61.1M+55.1%
Gross Profit

$436M

Previous: $355M+22.9%
Cash & Equivalents

$9.79M

Previous: $139M-93.0%
Total Assets

$4.35B

Previous: $3.73B+16.6%
Stock-Based Comp

$5M

Previous: $5.19M-3.6%

Revenue & EPS history

Floor & Decor · Revenue · Quarterly

$1.05B

Q4 2022+14.6%vs Q4 2021
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Forward guidance

The company provided fiscal 2023 guidance, including net sales of approximately $4,610 million to $4,750 million, comparable store sales of approximately (3.0)% to flat, and diluted EPS to be in the range of $2.55 to $2.85.

Tailwinds

  • Net sales of approximately $4,610 million to $4,750 million
  • Comparable store sales of approximately (3.0)% to flat
  • Diluted EPS to be in the range of $2.55 to $2.85
  • Adjusted EBITDA in the range of $605 million to $650 million
  • Open 32 to 35 new warehouse-format stores

Headwinds

  • Comparable store sales of approximately (3.0)% to flat
  • Diluted EPS to be in the range of $2.55 to $2.85
  • Depreciation and amortization expense of approximately $190 million
  • Interest expense, net of approximately $17 million to $18 million
  • Tax rate of approximately 24%, excluding tax benefits resulting from stock option exercises and the vesting of restricted stock and restricted stock units

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 2022

Historical avgQ4 2022

+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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