Floor & Decor(FND) - 2025 Q1 - Quarterly Results

Financial Performance - Net sales for the first quarter of fiscal 2025 were $1,160.7 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, down 2.2% from $0.46 in the same period last year[6] - Operating income increased by 8.3% to $64.2 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 $123.0 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 $50,032,000 for the same period in 2024[21] - EBITDA for the same period was $123,616,000, representing an increase of 7.5% from $115,190,000 in the prior year[22] - Adjusted EBITDA increased to $129,821,000, up 5.8% from $122,998,000 year-over-year[22] - Net cash provided by operating activities was $71,164,000, down 51.8% from $147,510,000 in the previous year[21] - Cash and cash equivalents at the end of the period were $186,930,000, compared to $57,426,000 at the end of the same period last year[21] - Purchases of fixed assets totaled $66,728,000, a decrease from $111,688,000 in the prior year[21] - The company reported a loss on asset impairments and disposals of $32,000, compared to $37,000 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 $4,800 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]