Ethan Allen Q3 2023 Earnings Report
Key Takeaways
Ethan Allen reported consolidated net sales of $186.3 million, a gross margin of 59.9%, an operating margin of 15.5%, and a net income of $22.4 million for Q3 2023. The adjusted diluted earnings per share was $0.86. The company had $156.2 million in cash and investments with no debt. The board approved a 13% increase to the regular quarterly cash dividend to $0.36 per share.
Consolidated net sales decreased by 5.7% to $186.3 million.
Retail segment written orders increased 3.6% compared with the pre-pandemic third quarter of fiscal 2019.
Consolidated gross margin decreased to 59.9% from 60.4% a year ago.
The Board approved an increase to the regular quarterly cash dividend to $0.36 per share, a 13% increase.
Ethan Allen
Ethan Allen
Forward Guidance
Ethan Allen is confident in their investments but remains cognizant of the slower economic environment, maintaining a cautiously optimistic outlook.