Floor & Decor Raises FY Earnings Outlook as 2Q Profit and Sales Increase

Dow Jones
07/31
 

Floor & Decor reported higher profit and revenue in the second quarter, and it raised its full-year earnings outlook.

The flooring retailer reported a profit of $95.9 million, or 89 cents a share, compared with a profit of $63.2 million, or 58 cents a share, a year earlier.

Adjusted earnings were 58 cents a share, compared with analysts' expectations of 57 cents a share, according to FactSet.

Revenue rose 3% to $1.25 billion. Analysts polled by FactSet expected $1.23 billion.

Floor & Decor said comparable store sales fell 2.1%, as it said demand for home improvement flooring projects remains uneven. However, it noted there was a sequential improved from the April quarter to the June quarter.

For the full year, Floor & Decor raised its earnings guidance to $2.20 and $2.45 a share, from a prior range of $1.83 to $2.08 a share. It expects revenue of $4.77 billion to $4.99 billion, in line with its prior outlook. Analysts are expecting earnings of $1.91 a share and revenue of $4.83 billion for the year.

 

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