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Havertys increases quarterly dividend to 33 cents per share, up from 32 cents.
Havertys announced that its Board of Directors declared a 1c increase in the quarterly dividend, from 32c per share to 33c per share on the company's common stock. The quarterly dividend for the company's Class A common stock is also being increased from 30c to 31c per share. The dividend is payable on December 11 to stockholders of record at the close of business on November 25. Havertys Furniture has paid a cash dividend in each year since 1935.
Havertys Announces Q3 Earnings Per Share of 28 Cents, Exceeding Consensus Estimate of 24 Cents
Reports Q3 revenue $194.5M, consensus $182.98M. Comparable store sales increased 7.1%. Steven Burdette, president and CEO said, "Our third-quarter results were highlighted by a strong Labor Day weekend performance, double-digit growth in written and delivered sales, and our first quarter of positive written and delivered comp-store sales in several years. Our strategic marketing investments continue to drive increased customer traffic, resulting in higher average tickets, solid conversion rates, and strong gross margins."
Havertys reports Q1 EPS 23c, consensus 14c
Reports Q1 revenue $181.6M, consensus $177.81M. Comparable store sales decreased 4.8%. Steven Burdette, president and CEO said, "We are pleased to report solid first quarter results with improved gross margins, earnings, and expense control, despite facing several headwinds, including a weak housing market, atypical winter weather in the South, low consumer confidence, and significant shifts in trade policy."
Havertys reports Q4 EPS 49c, consensus 15c
Reports Q4 revenue $184.35M, consensus $179.84M. Comparable store sales decreased 13.7%. Steven Burdette, president and CEO, said, "Our team remained disciplined in managing our operations and executing our growth strategies, even amidst the housing slowdown. We achieved our goal of opening five net new stores in 2024, with a notable return to the Houston, TX market after approximately 40 years, where we now have two stores."
Havertys sees FY24 effective tax rate 28%, CapEx $33M
The company expects retail square footage will increase approximately 3.4% in 2024 over 2023.
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