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Mar 31, 2022
Ethan Allen Q3 2022 Earnings Report
Reported double-digit growth in sales, income, and earnings per share.
Key Takeaways
Ethan Allen reported an 11.7% increase in sales to $197.7 million, with gross margin increasing to 60.4% and operating margin rising to 16.5%, resulting in diluted EPS of $0.97, a 59.0% increase. The company ended the quarter with a strong balance sheet, including $104.6 million in cash and investments and no debt.
Consolidated net sales increased 11.7% to $197.7 million.
Retail net sales increased 17.9% to $166.7 million.
Wholesale net sales increased 12.3% to $121.0 million.
Diluted EPS increased 59.0% to $0.97 compared to $0.61.
Ethan Allen
Ethan Allen
Forward Guidance
Ethan Allen expects to see softening consumer interest in home furnishings and remains focused on maintaining strong marketing programs, differentiation of relevant offerings, strong and talented associates, and control over manufacturing and logistics. They remain cautiously optimistic.
Positive Outlook
- Maintaining strong marketing programs
- Differentiation of relevant offerings
- Strong and talented associates
- Control over our manufacturing
- Control over our logistics
Challenges Ahead
- Record inflation
- Rising interest rates
- Supply chain challenges
- Global unrest
- Softening consumer interest in home furnishings