Havertys experienced a decline in financial performance in Q4 2024, with diluted EPS falling to $0.49 from $0.90 and consolidated sales decreasing by 12.5% to $184.4 million. Despite the downturn, the company maintained discipline in operations, opened five new stores, and returned $25.5 million in capital to shareholders.
Diluted earnings per common share decreased to $0.49 in Q4 2024 from $0.90 in Q4 2023.
Consolidated sales for Q4 2024 were $184.4 million, a 12.5% decrease from $210.7 million in Q4 2023.
Gross profit margin slightly decreased to 61.9% in Q4 2024 from 62.4% in Q4 2023.
The company returned $25.5 million of capital to shareholders in 2024 through share repurchases and dividends.
Havertys anticipates gross profit margins for 2025 to be between 60.0% and 60.5%. Fixed and discretionary SG&A expenses are expected to be in the range of $291.0 million to $293.0 million, with variable SG&A expenses between 19.0% and 19.3% of sales. The effective tax rate is projected at 26.5%, and planned capital expenditures are approximately $27.1 million.
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