What is the market's earnings forecast for Haverty Furniture A next quarter?

What does Haverty Furniture A do and what are its main business segments?

Did Haverty Furniture A beat or miss consensus estimates last quarter?

What is Haverty Furniture A's gross profit margin?

What were the key takeaways from Haverty Furniture A’s earnings call?

What is Haverty Furniture A's latest dividend and current dividend yield?

What is the revenue and EPS growth rate for Haverty Furniture A year over year?

What factors drove the changes in Haverty Furniture A's revenue and profit?

- **Revenue Growth**: Q3 2025 sales up 10.6% YoY to $194.5 million, driven by 13.6% Labor Day event growth and 7.1% upholstery special orders increase.
- **Margin Resilience**: Gross margin held steady at 60.3%, despite $624,000 LIFO expenses, with strategic price adjustments offsetting 25% tariffs on furniture imports.
- **Marketing Success**: $2.8 million in additional marketing (direct mail, digital) boosted e-commerce sales 13.6% and conversion rates.
- **Expansion Plans**: New Houston store (total 129) and 2026 goal of 5 new stores/year to drive $800+ million annual sales and margin expansion.
- **Tariff Management**: 30% tariffs set for January 2026, with ongoing collaboration with vendors to mitigate costs.

**【CEO Summary Section】**
- Q3 2025 revenue reached $194.5 million, up 10.6% YoY, with comparable store sales growing 7.1%. Key drivers included a successful Labor Day event (13.6% written sales increase) and a 7.1% rise in upholstery special orders.
- Gross margin remained stable at 60.3%, despite $624,000 in LIFO expenses. Average ticket increased 6.1% to $3,668, with design tickets up 11.9% to $7,986.
- The company opened a new store in Houston (New Caney) in mid-October, bringing total locations to 129, with plans to return to a 5-store/year growth rate in 2026.
- Tariffs on furniture from Mexico, Vietnam, Cambodia, Thailand, and Indonesia (25% effective October 14, escalating to 30% in January 2026) were partially offset by strategic price adjustments.
- Traffic growth in the mid-single digits and conversion rate improvement (low single-digit decline vs. Q2) highlighted operational progress.

**【CFO Financial Commentary】**
- Net income was $4.7 million ($0.28 EPS), down 4.1% YoY, due to a 11.3% increase in SG&A expenses ($112.3 million, 57.8% of sales) driven by $2.8 million in additional marketing (direct mail, digital campaigns) and higher administrative costs.
- Inventories rose $3.7 million YoY to $92.4 million, with LIFO expenses expected to continue impacting margins through Q4.
- 2025 guidance includes gross margins of 60.4-60.7%, SG&A expenses of $296-298 million, and CapEx of $24 million (19.6% for new stores, 2.6% for IT).

**【Q&A Highlights】**
- **Tariff Impact**: Price adjustments offset tariff effects; LIFO expenses will persist but margins remain stable.
- **Marketing Efficiency**: Direct mail campaign drove new customer acquisition, with e-commerce sales up 13.6%.
- **Growth Leverage**: CFO expects operating margin expansion when annual sales exceed $800 million, achievable with 2026's projected growth.
- **Regional Performance**: All regions showed positive comps, with Texas, Georgia, and Florida leading at 8-10% growth.
- **Tariff Outlook**: Monitoring U.S. trade talks and Supreme Court decisions for potential tariff reductions.


Haverty Furniture Companies, Inc. (HVT) Q3 2025 Earnings Call Transcript

- **Sales Recovery**: Q2 2025 net sales up 1.3% YoY, first increase in written/delivered sales in over two years.
- **Gross Margin Expansion**: 60.8% (vs. 60.4% YoY), driven by merchandising discipline.
- **Tariff Resilience**: Special order business suspended due to tariffs, but Q3 resumption planned with vendor realignment.
- **Marketing Success**: Web sales +8.4%, organic traffic +15.6% post-Adobe Edge adoption.
- **2025 Guidance**: Gross margin 60-60.5%, SG&A $291-293 million, CapEx $24 million.
- **Store Expansion**: 5 new stores planned for 2026, delayed from 2025 due to real estate challenges.

**【CEO Summary Section】**
- **Sales Recovery**: Q2 2025 net sales of $181 million, up 1.3% YoY, with written sales increasing 0.4% despite comps down 2.3%. This marks the first increase in written and delivered sales in over two years.
- **Gross Margin Improvement**: Gross margin rose to 60.8% (vs. 60.4% Q2 2024), driven by disciplined merchandising and product mix.
- **Operational Challenges**: Pretax profit of $4.3 million (2.4% operating margin) vs. $6.5 million (3.6%) in Q2 2024, with EPS of $0.16 (down from $0.27 YoY). Tariffs and housing market weakness impacted special order business, which declined mid-single digits.
- **Traffic and Conversion**: Traffic up mid-single digits, conversion rates improved from Q1's double-digit decline to mid-single-digit decrease. Memorial Day sales up 3% over 2 weeks, 14% over 4 days.
- **Marketing Success**: Web sales grew 8.4% with 15.6% increase in organic traffic post-Adobe Edge adoption. Loyalty email campaign generated $17 million in Q2, contributing to slight average ticket decline.
- **Category Performance**: Upholstery and bedroom outperformed, while dining and decor lagged. Inventory increased $4.6 million (5%) to $93.3 million, expected flat for remainder of 2025.
- **Store Expansion**: 2025 openings delayed to 2026; 5 new stores planned for 2026 in Houston, St. Louis, and Nashville. 2025 ends with 129 stores (no net change).

**【CFO Financial Commentary】**
- **Revenue and Expenses**: Net sales $181 million (+1.3% YoY). SG&A rose $4.2 million (4.1%) to $107.3 million, driven by advertising, occupancy, and administrative costs.
- **Profitability**: Net income $2.7 million ($0.16 EPS) vs. $4.4 million ($0.27 EPS) YoY. Effective tax rate 37.8% (vs. 31.2% YoY) due to state taxes and stock awards.
- **Balance Sheet**: $107.4 million cash, no debt. Customer deposits $39.4 million (-$1.4 million QoQ).
- **2025 Guidance**: Gross margin 60-60.5%, SG&A $291-293 million, CapEx $24 million, effective tax rate 26.5%.

**【Q&A Highlights】**
- **Tariff Impact**: Tariffs on China imports caused temporary suspension of special orders. Clarity in May allowed resumption in Q3. Merchandising teams realigned production with vendors, preparing for potential price adjustments.
- **Promotional Strategy**: Increased 60-month no-interest promotions and loyalty campaigns. Despite no credit usage increase, credit costs declined double digits YoY.
- **Consumer Response**: Unit sales trends align with overall sales, indicating no pushback on price increases. Management confident in maintaining gross margin guidance.
- **Real Estate Challenges**: Rents remain high, delaying 2025 openings. 2026 plans include 5 new stores in Houston, St. Louis, and Nashville, leveraging existing distribution networks.


Haverty Furniture Companies (HVT)-31 Jul 25-2025 Q2 Earnings call transcript

- **Resilient Q1 Results**: 2.9% operating margin vs. 1.7% last year, despite 1.3% sales decline.
- **Gross Margin Expansion**: 61.2% (up 90bps) driven by design business growth and product mix.
- **Tariff Mitigation**: Minimal price increases planned, 15% of China-sourced goods halted, inventory buffer created.
- **Store Growth**: Houston expansion on track, 5+ new stores planned by 2026.
- **Financial Strength**: Debt-free balance sheet, $111.9M cash, $0.23 EPS vs. $0.14 last year.

**【CEO Summary Section】**
- Q1 2025 sales of $181.6M (-1.3% YoY), with comps down 4.8%. Written sales down 2.6%, but average ticket up 4% to $3,300.
- Gross margin improved to 61.2% (vs. 60.3% Q1 2024), driven by product mix and design business growth (33% of sales).
- Operating margin expanded to 2.9% ($5.3M pre-tax profit) vs. 1.7% ($3.2M) in Q1 2024.
- Tariff impacts minimal due to supplier support; 15% of purchases from China halted, shifting production to Vietnam/Cambodia/Mexico.
- Inventory increased $5M (6%) to $88.7M, targeting faster customer service and tariff mitigation.
- New store openings in Houston (late Q3 2025) and Daytona relocation, with plans for 5+ stores by 2026.
- 140th anniversary campaign generated $8M in Q1 sales.

**【CFO Financial Commentary】**
- Net income $3.8M ($0.23 EPS) vs. $2.4M ($0.14 EPS) Q1 2024.
- SG&A expenses down 1.9% to $107.2M, driven by cost control in selling, advertising, and delivery.
- 2025 guidance: 60-60.5% gross margin, $291-293M fixed SG&A, $24M CapEx (reduced from prior $27M).
- No debt, $111.9M cash, $6.1M remaining under share buyback program.

**【Q&A Key Takeaways】**
- Winter storms and inauguration-related uncertainty caused 10% drop in President's Day sales, but March rebounded to flat growth.
- Tariffs will result in minimal price increases, with 90-day reprieve providing breathing room for supply chain adjustments.
- CapEx reduction reflects cautious approach amid tariff uncertainty; inventory strategy mitigates near-term tariff impact.
- New stores in Houston performing well, with conversion rates improving as teams gain experience.
- Competitors' aggressive promotions not deterring Haverty's traffic; focus on targeted marketing and customer experience.

Haverty Furniture Companies (HVT)-1 May 25-2025 Q1 Earnings call transcript

- **Resilient Design Business**: Q4 design revenue 32% of total, designer ticket +8% to $7,200.
- **Store Expansion Ambition**: 5+ Houston-area stores by 2026, total 129 locations.
- **Stable Margin Guidance**: 2025 gross margin 60-60.5%, despite tariff headwinds.
- **Cash Position**: $120M cash at year-end, no debt, $8.1M buyback authorization.
- **Key Risk**: Rising mortgage rates constrain housing affordability, impacting traffic.

**【CEO Summary Section】**
- **Q4 2024 Sales Performance**: Net sales of $184.4M (-12.5% YoY), comps down 13.7%. Full-year sales $722.9M (-16.1% YoY). Design business grew to 32% of Q4 revenue, with designer average ticket up 8% to $7,200.
- **Gross Margin Resilience**: Q4 gross margin 61.9%, flat vs. prior year. Full-year margin 60.7%.
- **Operational Strength**: Ended 2024 with $120M cash, 0 funded debt. Rolled out new store tagging system in Q2 2024, targeting 2-3 year implementation.
- **Store Expansion**: Opened 6 new stores in 2024 (total 129 locations). Planning 5+ Houston-area stores by end-2026, plus relocations in Orlando and Houston.
- **Market Challenges**: Mortgage rates rose despite rate cuts, impacting housing affordability. Tariffs on China, Canada, Mexico expected to be mitigated via vendor collaboration.

**【CFO Financial Commentary】**
- **Q4 2024 Financials**: Net income $8.2M ($0.49 EPS), down 45% YoY. Gross margin 61.9%, 50bp decline due to LIFO reserve changes. SG&A expenses $105.8M (-7.7% YoY), but 57.4% of sales vs. 54.4% prior year.
- **2025 Guidance**: 
  - Gross margin 60-60.5%, stable vs. 2024.
  - Fixed SG&A $291-293M (+4-5% YoY), driven by inflation, new stores, and marketing.
  - CapEx $27.1M (stores, IT, distribution). Effective tax rate 26.5%.
- **Liquidity**: $120M cash at year-end. $5M share buybacks in Q4, $8.1M remaining authorization.

**【Q&A Key Points】**
- **Traffic & Conversion**: Q4 traffic up YoY, conversion stabilized. Written sales improved sequentially (down 13% in Oct to flat in Dec). Avg ticket +4% to $3,400.
- **Regional Performance**: Florida/SE strong, Midwest/California weaker. Florida comps up low-single digits.
- **Tariff Impact**: 2025 margin guidance assumes tariff mitigation via vendor price adjustments or assortment changes. No expected margin impact from tariffs.
- **2025 Outlook**: Committed to $1B sales goal. Focus on conversion rate improvement, design business expansion, and new store openings.


HVT.A

HVT.A fundamentals

Earnings Call

You can ask Aime