Floor & Decor Lifts FY EPS View to $2.20-$2.45 After Q2 Beat
FND sits 41% above its 52-week low of $42.64.
Summary
Floor & Decor posted Q2 adjusted EPS of 58 cents, edging past the 57-cent consensus, on revenue of $1.25B (vs. $1.23B expected). The real surprise is the full-year guidance raise: EPS now seen at $2.20-$2.45, well above the prior $1.83-$2.08 and the $1.91 analyst estimate. Comparable store sales fell 2.1%, but management noted a sequential improvement through the quarter, suggesting demand may be stabilizing. This follows a June 8-K on a $1B refinancing, which strengthened the balance sheet. The guidance hike signals confidence that the uneven home-improvement backdrop is turning, and the stock is likely to re-rate on the new earnings trajectory.
At the time of this announcement, FND was trading at $60.30 on NYSE in the Trade & Services sector, with a market capitalization of approximately $6B. The 52-week trading range was $42.64 to $92.41. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.