Ethan Allen Q1 2022 Earnings Report
Key Takeaways
Ethan Allen reported a strong first quarter for fiscal year 2022, with a 20.7% increase in sales, a gross margin of 59.9%, and an operating margin of 15.0%. Diluted EPS was $0.79, and adjusted EPS was $0.80, a 122.2% increase compared to the prior year. The company ended the quarter with $93.7 million in cash and no bank debt.
Consolidated net sales increased 20.7% to $182.3 million.
Retail net sales increased 31.3% to $155.0 million.
Wholesale net sales increased 12.4% to $109.4 million.
Adjusted diluted EPS increased 122.2% to $0.80 compared to $0.36.
Ethan Allen
Ethan Allen
Ethan Allen Revenue by Segment
Forward Guidance
Ethan Allen announced plans to further expand manufacturing production, including new job openings and increases in wages to reaffirm the Company’s commitment to its North American manufacturing