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Floor & Decor (FND) investor relations material
Floor & Decor Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary31 Jul, 2025
Executive summary
Net sales for Q2 2025 rose 7.1% year-over-year to $1.214 billion, driven by new store openings and a 0.4% increase in comparable store sales, marking the first positive comp since 2022.
Diluted EPS increased 11.5% to $0.58, reaching the high end of expectations.
Opened three new warehouse-format stores in Q2, seven year-to-date, ending with 257 locations, up 11.7% year-over-year.
Gross profit rose 8.5% to $532.7 million, with gross margin improving by 60 bps to 43.9% due to lower supply chain costs.
Continued focus on disciplined growth, tariff mitigation, and operational agility amid economic uncertainty.
Financial highlights
Adjusted EBITDA increased 9.7% to $150.2 million, with margin rate up to 12.4%.
Operating income grew 14.8% year-over-year to $81.9 million, with operating margin up 50 bps to 6.8%.
Selling and store operating expenses rose 10.2% to $376.2 million, mainly due to new store openings.
Net interest expense increased 62.3% to $1.1 million, primarily from lower capitalized interest.
Net cash provided by operating activities was $155.3 million for the first half, down from $341.5 million in the prior year, mainly due to changes in inventory and payables.
Outlook and guidance
FY25 sales expected at $4.66–$4.75 billion, up 5–7% year-over-year.
20 new warehouse-format stores planned for FY25; similar pace anticipated for FY26, with flexibility to adjust.
Comparable store sales projected to be down 2% to flat; average ticket up low to mid-single digits, transactions down.
Gross margin rate guided at 43.5–43.7%, with 60–70 bps headwind from new distribution centers.
Adjusted EBITDA expected at $520–$550 million; diluted EPS $1.75–$2.
Explain the factors behind Q2's comp sales increase.
How does FND plan to manage supply chain risks?
Detail the 'other' adjustments to Adjusted EBITDA.
How will tariffs impact 2026 gross margin?
Discuss Spartan's sales growth drivers.
Elaborate on design services' impact.
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Next Floor & Decor earnings date
Q3 202529 Oct, 2025
Next Floor & Decor earnings date
Q3 202529 Oct, 2025
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Frequently asked questions
Experts in Flooring
Floor & Decor is an American company specializing in the retail market of hard surface flooring, offering a broad range of tile, wood, laminate, and natural stone floors as well as decor items. Catering to both professionals and individual consumers, the company has established a niche for itself by providing a focused array of products at competitive prices. Its stores are located in massive buildings with a huge selection of products within said niche.
Laying the Groundwork
Established in 2000, Floor & Decor has its roots in Atlanta, Georgia. Over two decades, the company has experienced considerable growth, branching out from a single store to an expansive network spanning across the United States. The vision was clear from the beginning: to offer a one-stop shopping destination for customers looking for flooring regardless of whether they’re an architect, builder, designer, or simply a private individual conducting a DIY project. Throughout its journey, the brand has remained steadfast in its commitment to providing value, offering a wide selection, and maintaining an unwavering focus on hard surface flooring and decorative accessories. Floor & Decor is what is typically referred to as a “Big Box Retailer”, with other companies in the same category including names like Walmart, Target, Home Depot, and similar businesses.
Focused on Flooring
Floor & Decor’s strength lies in its comprehensive product range within its niche. Customers can choose from an impressive array of tiles - be it ceramic, porcelain, or decorative. For those inclined toward the classic look of wood, the store offers solid hardwood, engineered wood, and bamboo. The laminate options cater to those seeking durability combined with aesthetic appeal, while the natural stone products, encompassing granite, marble, travertine, and more, promise elegance and sturdiness. Each product category is complemented by a range of related accessories, ensuring that customers find everything they need under one roof.
The Stores
Today, Floor & Decor operates more than 200 retail stores across over half of the US’s 50 states. The company’s retail experience goes beyond just selling the products. Most stores feature dedicated design centers where customers can get expert advice on their projects. The company's operations are backed by its multiple distribution centers, ensuring efficient supply chain management and timely delivery. As the market dynamics evolve, Floor & Decor continues to innovate and adapt, ensuring that it remains at the forefront of specialty hard surface flooring retail, providing value and quality to its vast clientele.
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