Floor & Decor Holdings, Inc. (FND) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

February 23, 2023 5:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Greetings, and welcome to the Floor & Decor Holdings, Inc. Fourth Quarter 2022 Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce to your host, Wayne Hood, Vice President of Investor Relations. Thank you, Wayne. You may begin.

Wayne Hood

Thank you, operator, and good afternoon, everyone. Welcome to Floor & Decor's fourth quarter and fiscal '22 earnings conference call. Joining me on our call today are Tom Taylor, Chief Executive Officer; Trevor Lang, President; and Bryan Langley, Executive Vice President and Chief Financial Officer. Before we start, I want to remind everyone of the company's safe harbor language. Comments made during this conference call and webcast contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties.

Any statement that refers to expectations, projections or other characterizations of future events, including financial projections or future market conditions is a forward-looking statement. The company's actual future results could differ materially from those expressed in such forward-looking statements for any reason, including those listed in its SEC filings. Floor & Decor assumes no obligation to update any such forward-looking statements. Please also note that past performance or market information is not a guarantee of future results.

During this conference call, the company will discuss non-GAAP financial measures as defined by SEC Regulation G. We believe non-GAAP disclosures enable investors to better understand our core operating performance on a comparable basis between periods. A reconciliation of each of these non-GAAP measures to the most directly comparable GAAP financial measures can be found in our earnings press release, which is available on our Investor Relations website at ir.flooranddecor.com. A recorded replay of this call and related materials will be available on our Investor Relations website.

Let me now turn the call over to Tom.

Tom Taylor

Thank you, Wayne, and everyone, for joining us on our fiscal 2022 fourth quarter earnings conference call.

During today's call, Trevor and I will discuss some of the highlights of our fiscal 2022 fourth quarter earnings. Then Bryan will provide a more in-depth review of our fourth quarter performance and share our thoughts about fiscal 2023.

We are pleased to announce that our 2022 fourth quarter adjusted diluted earnings per share increased by 45.5% to $0.64 from $0.44 last year, exceeding the $0.53 to $0.63 per share guidance range that we provided on our 2022 third quarter earnings conference call. Our full year 2022 adjusted diluted earnings per share increased by 13.1% to $2.76 from $2.44 in 2021.