FND earnings analysis
What we found in FND's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Floor & Decor Holdings, Inc. reported Q1 2026 results showing a 0.7% decline in revenue year-over-year at $1.15 billion and a diluted EPS of $0.37, down 17.8% from the prior year. The company faced challenges due to declining comparable store sales and increased operating expenses despite opening six new stores.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decline
- Net sales decreased 0.7% to $1,152.3 million from $1,160.7 million YOY.
- Significant EPS Drop
- Diluted EPS fell to $0.37, down 17.8% from $0.45 in the prior year.
- Improved Operating Cash Flow
- Net cash provided by operating activities increased to $109.2 million, up from $71.2 million in the same quarter last year.
- Interest Expense Reduction
- Interest expense decreased by 26.8% to $1.1 million compared to $1.5 million in the prior year.
- New Store Openings
- The company opened six new warehouse-format stores, increasing total to 276.
- Gross Margin Improvement
- Gross margin increased to 44.0%, up from 43.8% in the same period last year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining Comparable Store Sales
- Comparable store sales dropped 3.7%, significantly impacting revenue.
- Macroeconomic Headwinds
- Challenges due to low existing home sales and high mortgage rates affecting demand.
- Increased Costs from Tariffs
- Higher inventory costs due to tariffs could pressure profitability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.37
- Gross margin
- 44%
- Operating margin
- 4.5%
What they said about what is next.
Fiscal 2026 includes a 53rd week contributing approximately $65 million to revenue.
The filing reads worse than the one before it.
What came before.
- 10-K · February 19, 2026
- Floor & Decor describes a differentiated, multi-channel specialty retail model centered on a broad in-stock assortment, everyday low prices, and Pro/homeowner channels, operating 270 warehouse-format stores as of Dec…
- 10-Q · May 1, 2025
- Floor & Decor reported Q1 net sales of $1,160,740,000 (up $63,451,000 or ~5.8% vs Q1 prior-year $1,097,289,000) with gross margin expanding to 43.8% and operating income of $64,229,000 (operating margin 5.5%). GAAP…
- 10-K · February 20, 2025
- Floor & Decor reported fiscal 2024 net sales of $4,455,770,000 (up 0.9% vs. FY2023) with gross margin expanding to 43.3% and Adjusted EBITDA of $512,504,000. However, comparable store sales declined (7.1%) and net…
- 10-Q · May 2, 2024
- Floor & Decor reported Q1 net sales of $1,097,289 (down $24,763 or -2.2% vs $1,122,052 a year ago) and diluted EPS of $0.46 (down $0.20 or -30.3% vs $0.66). Gross margin expanded to 42.85% (+103 bps) but operating…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing FND makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever