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Haverty (HVT)
NYSE:HVT
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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
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -8.29%
|Next Earnings Date:Feb 25, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a challenging quarter for Havertys with significant declines in sales and earnings, largely attributed to economic conditions and hurricane impacts. However, the company demonstrated resilience with strong performance in the design business, a solid cash position, and strategic store expansion plans, indicating potential for future growth.Company Guidance
During Havertys' third quarter 2024 earnings call, the executives provided guidance on several key metrics. Consolidated sales were reported at $175.9 million, marking a substantial decline of 20.2% from the previous year, with comparable store sales also down by 20.5%. The gross profit margin decreased by 60 basis points to 60.2%, while SG&A expenses dropped by $11.8 million, or 10.4%, to $100.9 million. Despite these challenges, the company remained optimistic about future growth, with plans to end the year with 129 stores, including new openings in major markets like Houston. The company maintained a strong financial position, reporting $121.2 million in cash and cash equivalents, no funded debt, and a planned CapEx of $33 million for the year. They also projected gross margins for 2024 to be between 60.0% and 60.5%, and expected their effective tax rate to be around 28%.Store Expansion and Growth Plans
Havertys plans to open 3 additional stores this year, ending the year with 129 stores. The company is focusing on expanding in Houston, with a goal to open 5 stores in the area, leveraging the expanded distribution center in Dallas.
Strong Design Business Performance
The design business grew over 19% for the quarter, with the average ticket reaching approximately $7,300, representing a 5% increase. Special order business grew to 36% of the upholstery business, up 10% from last year.
Improved Inventory and Cash Position
Havertys' inventories decreased by 13% compared to Q3 2023, and the company ended the quarter with $121.2 million in cash with no funded debt.
Positive Traffic Trends
Store traffic showed improvement, with the decline in traffic moving to mid-single digits, indicating a potential positive trend in consumer interest.
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HVT 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 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $23.63 | $21.86 | -7.49% |
| Jul 31, 2024 | $28.56 | $28.85 | +1.02% |
| May 01, 2024 | $29.91 | $27.51 | -8.02% |
| Feb 21, 2024 | $33.54 | $31.34 | -6.56% |
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 (HVT) report earnings?
Haverty (HVT) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is Haverty (HVT) earnings time?
Haverty (HVT) 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 EPS forecast?
HVT EPS forecast for the fiscal quarter 2024 (Q4) is $0.19.
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