Floor & Decor raises Q4 adjusted EPS view to 17c-18c from 14c-16c, consensus 16c
Raises Q4 revenue view to $387M-$389M from $362M-$370M, consensus $370.3M. Sees Q4 SSS up 24.4% vs. 14.0% last year. CEO Tom Taylor says: "We're very pleased with the momentum of our business, which accelerated in the fourth quarter. Comparable store sales gains in the mid-teens across much of the country, combined with post-hurricane demand primarily in Houston, led to our estimated 24.4% comparable same store sales increase. As a result, 2017 will represent our ninth consecutive year of double-digit comparable store sales growth, averaging 15% per year. While we do not expect this fourth quarter same store sales growth rate to continue at this pace throughout 2018 in part because of post-hurricane demand, we remain highly confident in the long-term momentum that is building as the Floor & Decor brand and experience becomes more known among pro customers and consumers. We enter 2018 in a strong position and remain committed to the same strategies and continued investments in our business that have made us successful for almost two decades, which we believe should result in continued long-term earnings per share growth of approximately 25% for the foreseeable future."