Havertys Q4 EPS $0.90 down from $1.42; sales fall 24.9% to $210.7M

HAVERTY FURNITURE COMPANIES INC

Diluted EPS $0.90 vs $1.42; net income $15.0M vs $23.7M YoY.
Sales $210.7M (-24.9%); comparable store sales -25.5%; written comps -14.0%.
Gross margin expanded to 62.4% from 57.0% on lower product costs and LIFO benefit.
2024 guidance: gross margin 59.5-60.0%; fixed SG&A $295-297M; capex $32M.
No funded debt; returned $42.1M to shareholders via dividends and buybacks.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

HAVERTY FURNITURE COMPANIES INC reported the fourth quarter ended December 31, 2023 results: revenue $210.7 million, net income $15.0 million, EPS $0.90.

Period: the fourth quarter ended December 31, 2023
Revenue: $210.7 million
Net income: $15.0 million
EPS: $0.90
Result: reported results

Exact text from the filing

December 31, 2023 . Fourth quarter 2023 versus fourth quarter 2022 : • Diluted earnings per common share (“EPS”) of $0.90 versus $1.42. • Consolidated sales decreased 24.9% to $210.7 million. Comparable store sales decreased 25.5%. • Gross profit margin of 62.4% versus 57.0%. • Pre-tax income of $18.5 million versus $32.5 million. FY 2023 versus FY 2022 : • Diluted

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

HAVERTY FURNITURE COMPANIES INC reported the year ended December 31, 2023 results: revenue $862.1 million, net income $56.3 million, EPS $3.36.

Period: the year ended December 31, 2023
Revenue: $862.1 million
Net income: $56.3 million
EPS: $3.36
Result: reported results

Exact text from the filing

FY 2023 versus FY 2022 : • Diluted earnings per common share (“EPS”) of $3.36 versus $5.24. • Consolidated sales decreased 17.7% to $862.1 million. Comparable store sales decreased 18.4%. • Gross profit margin of 60.7% versus 57.7%. • Pre-tax income of $72.7 million versus $119.5 million.

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Source: SEC EDGAR

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