Bassett Furniture Industries 2025 Q3 Earnings Beats Expectations, Net Income Surges 117.8%

Bassett Furniture Industries (BSET) reported its fiscal 2025 Q3 earnings on Oct 8, 2025, with a strong turnaround in profitability and revenue growth, exceeding expectations. The company moved from a loss of $0.52 per share to positive earnings of $0.09 per share and reported a net income of $801,000, reversing a $4.5 million net loss in the prior year. No specific guidance was provided for future periods.

Revenue
Bassett’s total revenue rose by 5.9% to $80.10 million in 2025 Q3, from $75.62 million in the prior-year period. The growth was driven by robust wholesale and retail segments, with wholesale revenue standing at $50.79 million and retail at $51.89 million. Corporate and other revenue showed a negative $22.57 million due to eliminations, while consolidated revenue reached $80.10 million.

Earnings/Net Income
Bassett returned to profitability with an EPS of $0.09 in 2025 Q3, a dramatic improvement from a loss of $0.52 per share in the prior year. This marked a 117.3% positive swing. Similarly, net income surged to $801,000, representing a 117.8% improvement from a net loss of $4.5 million in 2024 Q3. This significant earnings turnaround highlights the company’s strong operational and strategic adjustments.

Price Action
The stock price of Bassett Furniture Industries edged up 2.94% during the latest trading day, climbed 5.26% during the most recent full trading week, and slightly declined by 0.24% month-to-date. These movements reflect investor sentiment in the wake of the earnings report.

Post-Earnings Price Action Review
Following the earnings report, Bassett’s stock price showed mixed short-term performance, with a positive daily gain and a strong weekly performance, despite a modest monthly decline. The positive earnings and operational improvements have likely contributed to investor confidence, although market conditions and broader sector trends may have influenced the stock’s performance in the month-to-date timeframe.

CEO Commentary
Robert H. Spilman, Jr., Chairman and Chief Executive Officer, highlighted revenue, operating income, and gross margin improvements in the quarter, despite a challenging home furnishings environment. He attributed the growth to new product introductions, increased marketing and e-commerce efforts, and supply chain adaptability. Spilman also emphasized the strength of Bassett’s U.S. manufacturing base in supporting custom furniture and design services.

Guidance
The company did not provide specific forward-looking guidance or numerical expectations for future periods in the provided filing. While forward-looking statements referenced the ability to manage operations and adapt to business conditions, no explicit quantitative targets for EPS or revenue were outlined for future periods.

Additional News
The additional news section focuses on corporate operations and highlights recent developments within the company. Bassett recently closed the operations of Noa Home Inc., which had been a part of the Corporate & Other segment in fiscal 2024. Excluding Noa Home, consolidated revenues increased by 7.3% compared to the prior year. Additionally, the company has been actively engaged in cost containment efforts and restructuring initiatives that have contributed to improved margins. These cost reduction activities were partially responsible for the 420-basis point decrease in selling, general, and administrative expenses as a percentage of sales compared to the prior year. While there were no recent M&A activities or C-level changes reported in the additional news section, the focus remained on operational efficiency and navigating supply chain challenges.