earnings
confidence high
sentiment positive
materiality 0.85
Havertys reports record annual sales of $1.01B; Q4 EPS $1.35 vs $1.37
HAVERTY FURNITURE COMPANIES INC
- Annual sales $1,012.8M (+35.4% YoY). Q4 sales $265.9M (+10.2%). Comparable store sales +9.2% in Q4.
- Full year EPS $4.90 vs $3.12; Q4 EPS $1.35 vs $1.37. Pre-tax income Q4 $32.1M vs $31.3M.
- Gross margin Q4 56.4% (down 60bps due to $5.6M LIFO charge). 2022 guidance: 56.7%–57.0%.
- 2022 outlook: fixed SG&A $295–298M, capex ~$37M, four new stores. Plans $25M share repurchase in H1 2022.
- Paid $52.4M in dividends in 2021 including special $35M; no funded debt. Operating cash flow $97.2M.