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Jan 31, 2021
Hooker Furnishings Q4 2021 Earnings Report
Hooker Furnishings reported increased profitability and continued strong demand in the fourth quarter.
Key Takeaways
Hooker Furnishings reported consolidated net sales of $155.3 million for the fiscal 2021 fourth quarter, with net income of $8.5 million, a $1.5 million or 22% increase compared to net income in the fourth quarter a year ago. Earnings per share for the quarter were $0.71 per diluted share, an increase of 20%.
Consolidated net sales for the fiscal 2021 fourth quarter were $155.3 million.
Net income was $8.5 million, a $1.5 million or 22% increase compared to the fourth quarter a year ago.
Earnings per share for the quarter were $0.71 per diluted share, an increase of 20%.
The company ended the year with orders almost 6% higher than the prior year and an order backlog more than double the same time a year ago.
Hooker Furnishings
Hooker Furnishings
Hooker Furnishings Revenue by Segment
Revenue by Segment
Hooker Branded Revenue
CapyFin.comHome Meridian Revenue
CapyFin.comDomestic Upholstery Revenue
CapyFin.com Forward Guidance
Hooker Furniture Corporation is entering FY22 with confidence and a positive outlook for the company and the industry. Maximizing these high levels of demand and backlogs will be the operational priority in the near term, as the company also works to continue the momentum of improved profitability during the last two quarters.
Positive Outlook
- Demand is strong.
- The company is experiencing significantly increased order rates so far in FY 22 compared to last year this time.
- Sustainable positive market conditions for home furnishings, driven by the robust housing market.
- Favorable demographics.
- Positive economic outlook.
Challenges Ahead
- Global manufacturing capacities constraints.
- Raw material shortages.
- The cost and availability of shipping containers.
- Shortages of upholstery foam.
- Competition for the consumers’ discretionary spending such as travel, restaurants and entertainment will increase as COVID vaccinations roll out.
Revenue & Expenses
Visualization of income flow from segment revenue to net income