Q1 2026 Floor & Decor Holdings Inc Earnings Call Transcript
Key Points
- Floor & Decor Holdings Inc (FND) announced a $400 million share repurchase program, reflecting confidence in their operating model and cash flow durability.
- The company opened six new warehouse format stores in the first quarter, strengthening their presence in large Tier 1 markets.
- Despite a challenging demand environment, the company achieved a 1.4% increase in first quarter Pro sales, supported by their Supply House merchandising strategies.
- Floor & Decor Holdings Inc (FND) reported a 5.4% year-over-year growth in connected customer sales, representing approximately 19% of total sales.
- The company successfully completed portions of their ERP implementation, enhancing productivity and building a scalable platform for future growth.
- First quarter earnings were weaker than anticipated, with diluted earnings per share of $0.37 compared to $0.45 in the same period last year.
- Total sales decreased by 0.7% to $1,152 million, and comparable store sales declined by 3.7%.
- The laminate and vinyl sales mix declined, negatively impacting the average ticket and resulting in lower square footage purchases.
- The company faced a challenging demand environment due to adverse weather, elevated mortgage rates, and geopolitical tensions affecting consumer sentiment.
- Spartan Services, a segment of the company, experienced weaker-than-expected sales and earnings performance due to difficult conditions in the commercial market.
Greetings, and welcome to the Floor & Decor Holdings, Inc. first-quarter 2026 conference call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Wayne Hood, Senior Vice President of Investor Relations. Thank you. You may begin.
Thank you, operator, and good afternoon, everyone. Welcome to Floor & Decor's fiscal 2026 first-quarter earnings conference call. Joining me today are Brad Paulsen, Chief Executive Officer; and Bryan Langley, Executive Vice President and Chief Financial Officer.
Before we begin, I want to remind everyone of the company's safe harbor language. Comments made during this call contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1,995. Any statement that refers to expectations, projections, or other characterizations of future events, including financial projections or future market conditions, is a forward-looking
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