Floor & Decor Holdings, Reports Second Quarter 2023 Earnings In Line With Expectations
August 10, 2023
🌥️Trending News
Floor & Decor ($NYSE:FND) Holdings, Inc. has reported its second-quarter earnings for fiscal year 2023 and the numbers are in line with expectations. Floor & Decor is a publicly traded specialty retailer of hard surface flooring, related accessories, and other related products. Given the success of the second-quarter earnings, Floor & Decor has been able to increase its full-year guidance for 2023. Overall, Floor & Decor has seen impressive financial performance during the second quarter and is ahead of expectations for the full year 2023.
Earnings
The company earned 860.11 million U.S. dollars in total revenue and 82.92 million U.S. dollars in net income, both showing slight fluctuations compared to the previous year. The total revenue decreased by 21.1%, whereas the net income increased by 1.3%. However, during the past three years, FLOOR & DECOR’s total revenue has grown from 860.11 million U.S. dollars to 1135.9 million U.S. dollars. This shows a gradual positive trend and indicates that the company is performing well in terms of its financials.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for FND. More…
| Total Revenues | Net Income | Net Margin |
| 4.4k | 288.39 | 6.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for FND. More…
| Operations | Investing | Financing |
| 581.24 | -541.34 | -41.91 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for FND. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.48k | 2.67k | 17.01 |
Key Ratios Snapshot
Some of the financial key ratios for FND are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 28.7% | 39.9% | 8.8% |
| FCF Margin | ROE | ROA |
| 1.4% | 13.7% | 5.4% |
Price History
The company’s stock opened at $103.0 and closed at $103.9, reflecting a 1.4% increase from its previous closing price of $102.5. The strong performance of FLOOR & DECOR is indicative of the increased demand created by the company’s expansion into new markets over the past year. The company’s innovative designs and affordable pricing have attracted new customers, as well as increased sales in existing markets.
Additionally, FLOOR & DECOR has continued to commit to providing excellent customer service, furthering its reputation as a reliable source for flooring and home decor. Overall, FLOOR & DECOR has reported an impressive second quarter earnings report and is well-positioned to continue its success moving forward. Investors can look to the positive results of the company’s quarter as further evidence of the strength of its business model. Live Quote…
Analysis
GoodWhale has analyzed FLOOR & DECOR’s financials and classified it as ‘gorilla’, a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Our analysis reveals that the company has a high health score of 7/10 considering its cashflows and debt, making it capable to safely ride out any crisis without the risk of bankruptcy. Additionally, FLOOR & DECOR is strong in growth, profitability, and medium in asset and weak in dividend. Given its strong competitive advantage and financial health, FLOOR & DECOR may be an attractive option for value investors, growth investors, and dividend investors. Value investors may be attracted to the company since they can purchase shares at a relatively low cost, while growth investors may appreciate its commitment to achieving sustainable earnings and revenue growth. Finally, dividend investors may appreciate the company’s current low dividend rate, making it an attractive long-term investment with potentially higher returns in the future. More…
Peers
Floor & Decor Holdings Inc. is one of the leading flooring retailers in the United States. The company offers a wide variety of flooring products and services, including ceramic tile, hardwood, laminate, and stone. Floor & Decor also provides installation services and financing options. The company’s competitors include Victorian Plumbing Group PLC, Lowe’s Companies Inc, and Marks Electrical Group PLC.
– Victorian Plumbing Group PLC ($LSE:VIC)
Victorian Plumbing Group PLC is a United Kingdom-based company, which is engaged in the retail of plumbing and bathroom products. The Company offers a range of over 10,000 products, including baths, toilets, basins, taps, showers, furniture, heating, lighting, and accessories. It offers its products through its website and showroom. The Company operates through two segments: United Kingdom and Europe.
– Lowe’s Companies Inc ($NYSE:LOW)
Lowe’s Companies Inc. is a publicly traded company with a market capitalization of 111.61 billion as of March 2022. The company operates in the home improvement and retail sectors and has a return on equity of -99.39%. Lowe’s Companies Inc. was founded in 1946 and is headquartered in Mooresville, North Carolina. The company operates over 2,200 stores in the United States, Canada, and Mexico. Lowe’s Companies Inc. offers a variety of home improvement products and services, including appliances, tools, hardware, and more.
– Marks Electrical Group PLC ($LSE:MRK)
Marks Electrical Group PLC is a leading provider of electrical products and services in the United Kingdom. The company has a market capitalization of 71.37 million as of 2022 and a return on equity of 27.33%. Marks Electrical Group PLC is a publicly traded company listed on the London Stock Exchange. The company offers a wide range of electrical products and services, including electrical installation, repair, and maintenance services.
Summary
Investors appear to be pleased with Floor & Decor Holdings, Inc. as the company reported second quarter earnings that met expectations. This strong performance was driven by higher same-store sales, growth in e-commerce, and an increase in average ticket size. The company is well-positioned for further growth, especially considering the strong tailwinds in the home improvement industry. Going forward, investors should keep an eye out for new store openings, potential acquisitions, and further investments in technology to capitalize on these favorable trends.
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