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Dec 31, 2023
Arhaus Q4 2023 Earnings Report
Arhaus reported a decrease in net revenue and net income for Q4 2023, but announced a special cash dividend and provided full year 2024 guidance.
Key Takeaways
Arhaus reported a decrease in net revenue by 3.5% to $344 million compared to the fourth quarter of 2022. Net income also decreased by 33.6% to $31 million. The company announced a special cash dividend of $0.50 per share and provided full year 2024 guidance.
Net revenue decreased by 3.5% to $344 million.
Comparable growth was (6.8)%.
Net and comprehensive income decreased to $31 million.
Adjusted EBITDA decreased to $51 million.
Forward Guidance
Arhaus provided its outlook for full year 2024, and expects net revenue between $1.33 billion and $1.37 billion. Comparable growth is expected to be between (4.0)% and (2.0)%. Net income is projected to be between $95 million and $105 million, and Adjusted EBITDA between $185 million and $200 million.
Positive Outlook
- Net revenue of $1.33 billion to $1.37 billion
- Company plans to open nine to eleven new Showrooms
- Strategic investments to support growth and client-first service capabilities
- New product introductions building on success of recent collections
- Board approved a special cash dividend of $0.50 per share
Challenges Ahead
- Comparable growth of (4.0)% to (2.0)%
- Net income of $95 million to $105 million
- Adjusted EBITDA of $185 million to $200 million
- First quarter net revenue impacted by warehouse management system implementation
Historical Earnings Impact
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Avg. Return Before/After Earnings
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