Floor & Decor Cuts FY24 Net Sales Outlook From $4.60B - $4.77B To $4.40B - $4.49B (Est $4.566B), EPS From $1.75 - $2.05 To $1.55 - $1.75 (Est $1.79)
Portfolio Pulse from Benzinga Newsdesk
Floor & Decor has revised its FY24 net sales outlook downwards from $4.60B-$4.77B to $4.40B-$4.49B, and its EPS from $1.75-$2.05 to $1.55-$1.75. Comparable store sales are expected to decline by 8.5% to 6.5%, and adjusted EBITDA is projected to be between $480 million and $505 million.
August 01, 2024 | 9:21 pm
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NEGATIVE IMPACT
Floor & Decor has lowered its FY24 net sales and EPS outlook, with comparable store sales expected to decline significantly. This revision indicates potential challenges in the company's performance and could negatively impact its stock price in the short term.
The downward revision in net sales and EPS outlook, along with a significant decline in comparable store sales, suggests that Floor & Decor is facing operational challenges. This is likely to result in a negative short-term impact on the stock price as investors react to the lowered expectations.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100