Floor & Decor Holdings, Inc. announces its financial results for the first quarter of fiscal 2018, which ended March 29, 2018.

Tom Taylor, Chief Executive Officer, stated, “We are very pleased with our results in the first quarter that once again demonstrate the positive response customers have to Floor & Decor’s highly differentiated, multi-channel, hard surface flooring and accessories business. Sales were above our expectations, and when combined with strong store execution and cost controls, we grew our adjusted diluted EPS 100%. These results were made possible by our hard working associates and their commitment to providing outstanding service to our customers.”

Mr. Taylor continued, “We continue to make progress on our strategic priorities that enhance our in-store and connected customer experience, which are resonating with both consumers and Pro customers across the country. As we look to the remainder of 2018 and beyond, we remain focused on executing our key growth strategies as we capitalize on the significant growth opportunity that exists for Floor & Decor.”

Unless indicated otherwise, the information in this release has been adjusted to give effect to a 321.820-for-one stock split of our common stock effected on April 24, 2017. See “Comparable Store Sales” below for information on how the Company calculates its comparable store sales growth.

For the Thirteen Weeks Ended March 29, 2018

• Net sales increased 31.1% to $402.9 million from $307.3 million in the first quarter of fiscal 2017. Comparable store sales increased 15.6%, including an estimated 400 basis point benefit from post-hurricane demand in Houston.

• The Company opened one new store during the first quarter of fiscal 2018, ending the quarter with 84 warehouse format stores.

• Operating income increased 61.0% to $36.5 million from $22.7 million in the first quarter of fiscal 2017. Operating margin increased 170 basis points to 9.1%.

• Net income increased 186.4% to $31.9 million compared to $11.1 million in the first quarter of fiscal 2017. Diluted EPS was $0.30 compared to $0.13 in the first quarter of fiscal 2017.

• Adjusted net income* increased 103.2% to $26.7 million compared to $13.2 million in the first quarter of fiscal 2017. Adjusted diluted EPS* was $0.26 compared to $0.13 in the first quarter of fiscal 2017, an increase of 100.0%.

• Adjusted EBITDA* increased 49.9% to $47.8 million compared to $31.9 million in the first quarter of fiscal 2017.

*Non-GAAP financial measures. Please see “Non-GAAP Financial Measures” and “Reconciliation of GAAP to Non-GAAP Financial Measures” below for more information.

Balance Sheet Highlights as of March 29, 2018

• Total liquidity was $160.9 million as of March 29, 2018, which was primarily from the availability on our revolving credit facility.

• Total debt was $177.6 million as of March 29, 2018, consisting of outstanding current and long-term portions of our secured term loan and revolving credit facilities.