Hooker Furnishings Q3 sales $151.6M (+13.6% YoY); net income $4.8M vs loss; dividend +10%

HOOKER FURNISHINGS Corp

2023-Q3 EPS reported $1.14 revenue$451,803,000

Net sales $151.6M (+13.6% YoY); net income $4.8M ($0.42 EPS) vs net loss $1.2M (-$0.10) prior year.
Domestic Upholstery sales up 48% YoY driven by Sunset West and organic growth.
Home Meridian segment operating loss of $3.2M, improved by $7M from prior-year quarter.
Dividend raised 10% to $0.22/share, payable Dec 30 to holders of record Dec 16; seventh consecutive annual increase.
Repurchased 598,000 shares for $9.4M under $20M authorization; aim to reduce inventory by $25M over next year.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

HOOKER FURNISHINGS Corp reported fiscal-year 2023 third quarter ended October 30, 2022 results: revenue $151.6 million, net income $4.8 million, EPS $0.42 per diluted share.

Period: fiscal-year 2023 third quarter ended October 30, 2022
Revenue: $151.6 million
Net income: $4.8 million
EPS: $0.42 per diluted share
Result: reported results

Exact text from the filing

for nearly a century, today reported results for its fiscal-year 2023 third quarter ended October 30, 2022. Fiscal 2023 Third Quarter Highlights: Net sales for the quarter were $151.6 million, an increase of $18.2 million, or 13.6%, compared to the prior-year quarter. Higher sales were driven by revenue growth across all divisions of the Domestic Upholstery segment,

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Source: SEC EDGAR

accession 0001171843-22-007895

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