Shares of Floor & Decor Holdings (NYSE: FND) dropped more than 13% at the open on Friday before recovering somewhat following the home decor retailer's third-quarter earnings report. Results came in roughly in line with expectations, but the company lowered the top end of its full-year estimates.
Before markets opened Friday, Floor & Decor reported third-quarter adjusted earnings of $0.27 on revenue of $521.1 million, beating the consensus earnings estimate by a penny but missing by about $2 million on revenue. Operating income fell by 8.3% year over year to $31.4 million, and operating margin decreased 190 basis points to 6%.
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