LONDON, UK / ACCESSWIRE / April 16, 2018 / Active-Investors.com has just released a free earnings report on Floor & Decor Holdings, Inc. (NYSE: FND). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FND. Floor & Decor reported its fourth quarter and fiscal 2017 operating and financial results on March 01, 2018. The multi-channel specialty retailer of hard surface flooring and related accessories outperformed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Floor & Decor most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For the thirteen-week ended December 28, 2017, Floor & Décor's net sales surged 40.0% to $389.5 million from $278.3 million in Q4 2016. The Company's comparable store sales increased 24.4% on a y-o-y basis, including an estimated 800 basis point benefit from post-hurricane demand in Houston. Floor & Décor's reported numbers topped analysts' estimates by $2.15 million.
For Q4 2017, Floor & Décor's operating income soared 62.2% to $32.4 million from $20.0 million in Q4 2016. The Company's reported quarter operating margin increased 110 basis points to 8.3%. In the reported quarter, the Company's adjusted EBITDA advanced 4.5% to $43.5 million versus $28.1 million in the prior year's comparable quarter.
Floor & Décor's net income totaled $48.0 million, or $0.46 per diluted share, for Q4 2017 compared to $16.7 million, or $0.19 per diluted share, in Q4 2016. In the reported quarter, the Company's adjusted net income soared 76.9% to $19.9 million compared to $11.3 million in Q4 2016. Floor & Décor's adjusted earnings per diluted share totaled $0.19 compared to $0.11 per diluted share in Q4 2016, reflecting an increase of 72.7%. The Company's earnings beat Wall Street's estimates of $0.18 per share.
For the fiscal year ended December 28, 2017, Floor & Décor's net sales advanced 31.8% to $1.38 billion from $1.05 billion in FY16. Comparable store sales increased 16.6%, including an estimated 200 basis point benefit from post-hurricane demand in Houston.
For FY17, Floor & Décor's net income totaled $102.8 million, or $1.03 per diluted share, compared to $43.0 million, or $0.49 per diluted share, in FY16. The Company's adjusted net income surged 58.8% to $71.0 million compared to $44.7 million in the year ago same period. Floor & Décor's adjusted earnings per diluted share was $0.69 in FY17 compared to $0.45 in FY16, representing an increase of 53.3%.
Balance Sheet Highlights
As of December 28, 2017, Floor & Décor's total liquidity was $146.7 million, which was primarily from the availability on the Company's revolving credit facility. Floor & Décor's total debt was $193.5 million as of December 28, 2017, consisting of outstanding current and long-term portions of the Company's secured term loan and revolving credit facilities.
Store Update
During Q4 2017, Floor & Décor opened three new stores, ending the reported quarter with 83 warehouse format stores. Floor & Decor opened 14 new stores and relocated one store during FY17.
Outlook
For the first quarter fiscal 2018, Floor & Décor is forecasting net sales in the range of $397 million to $402 million and comparable store sales between 14.0% to 15.0%. The Company is expecting earnings in the band of $0.22 to $0.23 per diluted share.
For the fiscal year 2018, Floor & Décor is projecting net sales in the band of $1.69 billion to $1.73 billion and comparable store sales between 8.5% to 11.5%. The Company is estimating earnings in the range of $0.91 to $1.00 per share and anticipating the opening of 17 new warehouse format stores.
Stock Performance Snapshot
April 13, 2018 - At Friday's closing bell, Floor & Decor's stock slightly advanced 0.92%, ending the trading session at $54.73.
Volume traded for the day: 479.72 thousand shares.
Stock performance in the last month – up 16.45%; previous three-month period – up 16.52%; past six-month period – up 46.73%; and year-to-date – up 12.43%
After last Friday's close, Floor & Decor's market cap was at $5.19 billion.
Price to Earnings (P/E) ratio was at 65.54.
The stock is part of the Services sector, categorized under the Home Improvement Stores industry.
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