Havertys Q3 2022 EPS $1.46 beats $1.31; sales up 5.4% to $274.5M

HAVERTY FURNITURE COMPANIES INC

Diluted EPS $1.46 vs $1.31; net income $24.6M vs $24.2M.
Comparable store sales +6.3%; written sales -7.2% vs record 2021.
Gross margin 57.1% vs 56.8%; average ticket up 8.2% to $3,213.
No funded debt; cash $144M; share repurchases $30M and dividends $13.4M YTD.
2022 guidance: GM 57.7%-58.0%; fixed SG&A $290-293M (reduced); capex ~$30M.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

HAVERTY FURNITURE COMPANIES INC reported the three months ended September 30, 2022 results: revenue $274.5 million, net income $24.6 million, EPS $1.46.

Period: the three months ended September 30, 2022
Revenue: $274.5 million
Net income: $24.6 million
EPS: $1.46
Result: reported results

Exact text from the filing

September 30, 2022. Third quarter 2022 versus third quarter 2021 : • Diluted earnings per common share (“EPS”) of $1.46 versus $1.31. • Consolidated sales increased 5.4% to $274.5 million. Comparable store sales increased 6.3%. • Gross profit margin of 57.1% versus 56.8%. Clarence H. Smith, chairman and CEO, said, “Our strong earnings were the result of increased

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Source: SEC EDGAR

accession 0000216085-22-000020

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