Ethan Allen reports Q1 EPS 58c, consensus 56c

Reports Q1 revenue $154.337M, consensus $157.65M.Farooq Kathwari, Ethan Allen’s (ETD) Chairman, President and CEO commented, ” “We are also pleased to announce that yesterday our Board approved a regular quarterly cash dividend of $0.39 per share, payable on November 27, 2024.”Kathwari continued, “Strengthening our team and investing in technology is a game changer. These two important factors have helped us to operate more efficiently. As of September 30, 2024, our headcount was 8.5% lower than a year ago and has been reduced by 27.9% since September 30, 2019.” “As previously disclosed, one of our distribution centers located in Old Fort, North Carolina was impacted in September by significant flooding from Hurricane Helene. The disruption impacted shipments and we suffered a loss of $0.3 million related to damaged inventory and remediation costs. Restoration efforts have helped our distribution center resume normal shipping and receiving capacity.” “We look forward to continued progress and remain cautiously optimistic,” concluded Mr. Kathwari.