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Haverty Furn Cl A SC (HVT.A)
NYSE:HVT.A
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Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.19Last Year’s EPS
$0.9Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -11.33%
|Next Earnings Date:Feb 25, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a challenging quarter with significant revenue declines and impacts from natural disasters. However, Havertys maintains a strong financial position, is expanding its store footprint, and is seeing improvements in store traffic and customer spending. The growth in the design segment and strategic focus on new markets, particularly Houston, provide optimism for future performance.Company Guidance
During Havertys' third quarter 2024 earnings call, the company provided guidance highlighting several key financial metrics and future expectations. Consolidated sales for the quarter were reported at $175.9 million, a decline of 20.2% compared to the previous year, while earnings per share dropped to $0.29 from $1.02. Comparable store sales decreased by 20.5%, and gross profit margin fell by 60 basis points to 60.2%. Despite these challenges, the company remains optimistic about future growth, planning to end the year with 129 stores and focusing on expanding in the Greater Houston market with a target of opening multiple locations. The company expects gross margins for 2024 to be between 60.0% and 60.5%, with SG&A expenses projected to range from $279 million to $281 million. Havertys also highlighted strong cash flow management, ending the quarter with $121.2 million in cash and no debt. The company is committed to maintaining its growth strategy, with a planned capital expenditure of $33 million for the year, while also enhancing its merchandise team and focusing on improving store traffic and customer engagement.Store Expansion and Growth Strategy
Havertys opened a new store in Pembroke Pines, North Miami, and plans to open three additional stores by the end of the year. They aim to expand significantly in the Greater Houston market, which is a top priority for the next two years.
Improving Store Traffic and Design Business
Store traffic is improving, with a noted increase in customer spending, as the average ticket rose over 3% to almost $3,500. The design business continues to grow, with a 19% increase in the quarter.
Strong Financial Position
Havertys is debt-free with over $100 million in cash. Inventories are well-managed, down 13% from Q3 2023, and the company has reduced SG&A expenses by 10.4%.
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HVT.A Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HVT.A Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $24.25 | $22.14 | -8.70% |
| Jul 31, 2024 | $28.33 | $28.75 | +1.48% |
| May 01, 2024 | $29.75 | $27.08 | -8.97% |
| Feb 21, 2024 | $33.15 | $31.16 | -6.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Haverty Furn Cl A SC (HVT.A) report earnings?
Haverty Furn Cl A SC (HVT.A) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is Haverty Furn Cl A SC (HVT.A) earnings time?
Haverty Furn Cl A SC (HVT.A) earnings time is at Feb 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HVT.A EPS forecast?
HVT.A EPS forecast for the fiscal quarter 2024 (Q4) is $0.19.
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