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Sep 30, 2022
Haverty Furniture Q3 2022 Earnings Report
Havertys' earnings increased due to sales growth and improved gross margin.
Key Takeaways
Havertys reported a strong third quarter with increased sales and improved gross margin, resulting in higher earnings per share. The company saw a rise in consolidated sales and comparable store sales, along with a higher gross profit margin.
Diluted earnings per share increased to $1.46 from $1.31.
Consolidated sales rose by 5.4% to $274.5 million.
Comparable store sales increased by 6.3%.
Gross profit margin improved to 57.1% from 56.8%.
Forward Guidance
The last quarter of 2022 will be challenging as consumers face continued inflation, rising interest rates, market volatility, and geopolitical concerns. The company is well positioned to service its growing customer base, and will continue to use its financial strength to invest in growth initiatives to drive the business in 2023 and beyond.
Challenges Ahead
- Consumers face continued inflation.
- Rising interest rates may impact consumer spending.
- Market volatility creates uncertainty.
- Geopolitical concerns could affect the business environment.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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