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Floor & Decor(FND) - 2025 Q1 - Quarterly Results
FNDFloor & Decor(FND)2025-05-01 20:13

Financial Performance - Net sales for the first quarter of fiscal 2025 were 1,160.7million,anincreaseof5.81,160.7 million, an increase of 5.8% from 1,097.3 million in the first quarter of fiscal 2024[6] - Comparable store sales decreased by 1.8% in the first quarter of fiscal 2025[6] - Diluted earnings per share (EPS) for the first quarter was 0.45,down2.20.45, down 2.2% from 0.46 in the same period last year[6] - Operating income increased by 8.3% to 64.2million,withanoperatingmarginof5.564.2 million, with an operating margin of 5.5%, up 10 basis points from the previous year[6] - Adjusted EBITDA for the first quarter was 129.8 million, reflecting a 5.5% increase from 123.0millioninthefirstquarteroffiscal2024[6]−NetincomeforthethirteenweeksendedMarch27,2025,was123.0 million in the first quarter of fiscal 2024[6] - Net income for the thirteen weeks ended March 27, 2025, was 48,878,000, a decrease of 2.3% compared to 50,032,000forthesameperiodin2024[21]−EBITDAforthesameperiodwas50,032,000 for the same period in 2024[21] - EBITDA for the same period was 123,616,000, representing an increase of 7.5% from 115,190,000intheprioryear[22]−AdjustedEBITDAincreasedto115,190,000 in the prior year[22] - Adjusted EBITDA increased to 129,821,000, up 5.8% from 122,998,000year−over−year[22]−Netcashprovidedbyoperatingactivitieswas122,998,000 year-over-year[22] - Net cash provided by operating activities was 71,164,000, down 51.8% from 147,510,000inthepreviousyear[21]−Cashandcashequivalentsattheendoftheperiodwere147,510,000 in the previous year[21] - Cash and cash equivalents at the end of the period were 186,930,000, compared to 57,426,000attheendofthesameperiodlastyear[21]−Purchasesoffixedassetstotaled57,426,000 at the end of the same period last year[21] - Purchases of fixed assets totaled 66,728,000, a decrease from 111,688,000intheprioryear[21]−Thecompanyreportedalossonassetimpairmentsanddisposalsof111,688,000 in the prior year[21] - The company reported a loss on asset impairments and disposals of 32,000, compared to 37,000inthepreviousyear[21]FutureOutlook−Thecompanyplanstoopen20newwarehousestoresinfiscal2025,reducedfromapriorexpectationof25newstores[2]−Theupdatedoutlookforfiscalyear2025includesnetsalesprojectedbetween37,000 in the previous year[21] Future Outlook - The company plans to open 20 new warehouse stores in fiscal 2025, reduced from a prior expectation of 25 new stores[2] - The updated outlook for fiscal year 2025 includes net sales projected between 4,660 million and 4,800million[11]−Comparablestoresalesguidanceforfiscalyear2025isexpectedtorangefrom(2.0)4,800 million[11] - Comparable store sales guidance for fiscal year 2025 is expected to range from (2.0)% to 1.0%[11] - Capital expenditures are projected to be approximately 310 million to $360 million for fiscal year 2025[11] Challenges and Risks - The company anticipates challenges in managing new store growth and potential impacts from economic conditions[27] - Future performance may be affected by various risks including supply chain disruptions and changes in consumer preferences[27] - The company is focused on maintaining brand image and managing competition in the market[27]