Floor & Decor: 2Q26 Business Update
Floor & Decor’s same-store sales improved to minus 2%, while $45 million of tariff refunds lifted second-quarter gross profit and operating income.
Tuesday, August 4, 2026
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Investor Letters
All letters- Palm Valley Capital First Quarter 2026 CHRD $7.5BDOX $6.1B
- Pershing Square Holdings 2025 HHH $4.3BAMZN $2.7T
- Palm Valley Capital Fourth Quarter 2025 DPUKY $1.2BFLO $1.2B
- Askeladden Capital Q2 2025 GO $1.2BBELFB $3.7B
- Berkshire Hathaway 2024 ITOCY $95BMARUY $49B
- Horizon Kinetics 2nd Quarter 2024 LB $6.6BTPL $24B
A Venezuela Lottery Ticket for 41 Cents
Lionheart Holdings’ 41-cent CUBWW warrants hinge on a SPAC merger valuing KEO Energy’s Venezuelan PetroUrdaneta stake at $1 billion, versus…
[scuttleslops] BLDR, RYAN, APG, GFL, FND
Builders FirstSource reported Q2 2026 sales down 9% to $3.9 billion as weak housing demand and aggressive competitor pricing cut EBITDA…
Floor & Decor 2Q'26: Tentative Green Shoots
Floor & Decor held 2026 guidance after a 2Q beat, with comps improving through June; tariff refunds lifted margins and may fund pricing…
Vistance Networks (NASDAQ: VISN)
Vistance Networks plans a large post-Ruckus-sale dividend, leaving Aurora Networks valued below 4x guided EBITDA after $1.88 billion of…
Meta: 2Q26 Business Update
Meta's 2Q26 revenue rose 27%, but capex, depreciation and nascent cloud and AI ambitions raise margin and return risks as it maximizes…
Cematrix Corp ($CEMX.TO) FINS Review
Cematrix posted record Q2 revenue of $18.7 million, up 76%, and $3.5 million of net income, while backlog fell 9% from year-end.
[OTCM] Listings for the rest of us
OTC Markets gives smaller, distressed, and lightly disclosed companies a trading venue outside NYSE and Nasdaq, with lower listing barriers…
This Stock Just Got Cheaper on Better Numbers
A debt-free American manufacturer now trades at roughly 7x annualized Q2 EBITDA, with $7.35 per share in net cash and a tender floor 18.5%…
[scuttleslops] ODFL, AMD, INTC, CDNS, URI, VRSK, KNSL, WSO
Old Dominion Freight Line grew Q2 revenue 10.4% and EPS 32.3% as pricing offset lower tonnage, while excess network capacity sets up…
Entravision: Another Whale Has Emerged
Entravision’s Q1 filings contain a new footnote disclosure pointing to a potential second large advertiser beyond its Hong Kong customer,…
AAON · long Aaon INC (aaon)
AAON is presented as a long investment idea, revisiting a company written up as a short nearly a decade ago.
Tesla and SpaceX's Likely Merger, Portfolio Change
Tesla and SpaceX are increasingly integrated through Terafab, Optimus, Grok and Starlink, strengthening the case for a merger to pool…
Alphabet 2Q'26: Google Cloud is On Cloud Nine
Alphabet’s 2Q’26 revenue rose 24% to $119.8 billion as Google Cloud grew 82% and tripled operating income, while heavy investment drove…
Danaher 2Q'26: Yet Another "Meh" Quarter
Danaher posted 3.0% core revenue growth in 2Q’26, with LTM adjusted EBITA flat at $7.1 billion since 2Q’24 despite a mid-20s earnings…
$CBZ: stop the buybacks and restart the M&A flywheel? | Reference Equity
CBIZ activist Ryan Bunn urges ending buybacks, issuing equity and resuming bolt-on acquisitions to delever after the $2.3 billion Marcum…
Under The Hood - Sprouts Farmers Market, Inc.
Sprouts Farmers Market’s 483-store fresh-food format combines dedicated distribution, curated assortments and long-built site selection,…
$50M Cash, No Debt, 0.74x Book: A Deep-Value Machine Tool Setup
A debt-free machine tool company with $50 million in cash trades at 0.74 times book value and below net current asset value.
U-Haul Bought at the Top
U-Haul’s pandemic-era fleet purchases at inflated prices now drive higher depreciation and disposal losses as truck and van prices…
[scuttlebits] CPRT, ADBE, FIG, NVDA, QCOM, FDS, Memory chips
Copart’s returning CEO Jay Adair plans to restart European expansion and build domestic whole-car sales on its global buyer network amid…
Corporate dark arts: the strangest 8-K I've ever seen $DMRC
DMRC’s incoming CEO can earn more than $40 million if shares rise roughly fivefold, despite an 8-K warning of substantial doubt about the…
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