Haverty Furniture Soars 15.64% on Strong Q1 Earnings

Haverty Furniture Companies Inc. (HVT) experienced a significant surge in its stock price, rising 15.64% in pre-market trading on May 1, 2025.

Haverty Furniture reported strong first-quarter earnings, with earnings per share (EPS) of $0.23, surpassing the estimated $0.16. The company's revenue for the quarter was $181.6 million, exceeding the estimated $178.36 million. Despite a 4.8% decline in comparable store sales, the company managed to enhance gross margins and maintain effective expense control. The CEO, Steven Burdette, expressed satisfaction with the robust performance amidst various challenges, including a sluggish housing market and low consumer confidence.

Haverty Furniture's key business developments include maintaining strong gross margins, ending the year with zero funded debt and over $120 million in cash, and improving traffic and design business. The company successfully opened new stores in St. Petersburg, Florida, Greenwood, Indiana, and Houston. However, the fourth quarter saw a 12.5% decrease in sales and a 13.7% decline in comparable store sales. The company is also facing tariff issues with China, Canada, and Mexico, which could impact pricing and product flow.