Floor & Decor Files Q3 2024 10-Q

TL;DR

FND Q3 24 10-Q filed. Check financials.

AI Summary

Floor & Decor Holdings, Inc. filed its 10-Q for the period ending September 26, 2024. The company reported financial results for its fiscal third quarter of 2024. Key financial data and operational details are presented in this filing.

Why It Matters

This filing provides investors with the official financial performance of Floor & Decor for the third quarter of fiscal year 2024, including revenue, expenses, and other key metrics.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 2024-09-26 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-10-30 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• Floor & Decor Holdings, Inc. (company) — Filer of the 10-Q
• 2024-09-26 (date) — End of the reporting period
• 2024-10-30 (date) — Filing date
• 2500 WINDY RIDGE PARKWAY, SE (address) — Company's business and mailing address
• ATLANTA, GA (location) — City and State of company's address

FAQ

Key Financial Figures

• $0.001 — which registered Class A common stock, $0.001 par value per share FND New York Stock

Filing Documents

• fnd-20240926.htm (10-Q) — 1065KB
• fnd-20240926xex311.htm (EX-31.1) — 11KB
• fnd-20240926xex312.htm (EX-31.2) — 11KB
• fnd-20240926xex321.htm (EX-32.1) — 9KB
• 0001507079-24-000037.txt ( ) — 5847KB
• fnd-20240926.xsd (EX-101.SCH) — 34KB
• fnd-20240926_cal.xml (EX-101.CAL) — 64KB
• fnd-20240926_def.xml (EX-101.DEF) — 220KB
• fnd-20240926_lab.xml (EX-101.LAB) — 536KB
• fnd-20240926_pre.xml (EX-101.PRE) — 390KB
• fnd-20240926_htm.xml (XML) — 779KB

Forward-Looking Statements

Forward-Looking Statements 3

– Financial Information

Part I – Financial Information 5

Financial Statements

Item 1. Financial Statements 5 Condensed Consolidated Balance Sheets (Unaudited) 5 Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) 6 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) 7 Condensed Consolidated Statements of Cash Flows (Unaudited) 9 Notes to Condensed Consolidated Financial Statements (Unaudited) 10

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 28

Controls and Procedures

Item 4. Controls and Procedures 28

– Other Information

Part II – Other Information 28

Legal Proceedings

Item 1. Legal Proceedings 28

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29

Other Information

Item 5. Other Information 29

Exhibits

Item 6. Exhibits 30

Signatures

Signatures 31 2 Table of Contents

Forward-Looking Statements

Forward-Looking Statements The discussion in this Form 10-Q for the quarterly period ended September 26, 2024 (the "Quarterly Report"), including under Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations" of Part I and Item 1A, "Risk Factors" of Part II, contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact contained in this Quarterly Report, including statements regarding our future operating results and financial position, business strategy and plans, and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "seeks," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "budget," "potential," or "continue" or the negative of these terms or other similar expressions. The forward-looking statements contained in this Quarterly Report are based on our current expectations, assumptions, estimates, and projections regarding the Company's business, the economy, and other future conditions, including the impact of natural disasters on sales. These statements involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements in this Quarterly Report are reasonable, we cannot guarantee future events, results, performance, or achievements. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements in this Quarterly Report, including, without limitation, those factors described in

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Floor & Decor Holdings, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) in thousands, except for share and per share data As of September 26, 2024 As of December 28, 2023 Assets Current assets: Cash and cash equivalents $ 180,771 $ 34,382 Income taxes receivable 3,317 27,870 Receivables, net 104,351 99,513 Inventories, net 1,046,007 1,106,150 Prepaid expenses and other current assets 54,419 48,725 Total current assets 1,388,865 1,316,640 Fixed assets, net 1,763,980 1,629,917 Right-of-use assets 1,346,653 1,282,625 Intangible assets, net 151,119 153,869 Goodwill 257,940 257,940 Deferred income tax assets, net 16,635 14,227 Other assets 7,037 7,332 Total long-term assets 3,543,364 3,345,910 Total assets $ 4,932,229 $ 4,662,550 Liabilities and stockholders' equity Current liabilities: Current portion of term loan $ 2,103 $ 2,103 Current portion of lease liabilities 134,629 126,428 Trade accounts payable 737,845 679,265 Accrued expenses and other current liabilities 305,971 332,940 Deferred revenue 12,472 11,277 Total current liabilities 1,193,020 1,152,013 Term loan 194,630 194,939 Lease liabilities 1,368,514 1,301,754 Deferred income tax liabilities, net 53,373 67,188 Other liabilities 11,637 15,666 Total long-term liabilities 1,628,154 1,579,547 Total liabilities 2,821,174 2,731,560 Commitments and contingencies (Note 5) Stockholders' equity Capital stock: Preferred stock, $ 0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding at September 26, 2024 and December 28, 2023 — — Common stock Class A, $ 0.001 par value; 450,000,000 shares authorized; 107,223,985 shares issued and outstanding at September 26, 2024 and 106,737,532 issued and outstanding at December 28, 2023 107 107 Common stock Class B, $ 0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding at September 26, 2024 and December 28, 2023 — — Common stock Class C

View Full Filing

View this 10-Q filing on SEC EDGAR