Ethan Allen Interiors Reports Fourth Quarter Fiscal Year 2023 Earnings
August 27, 2023
🌥️Earnings Overview
On August 2, 2023, ETHAN ALLEN INTERIORS ($NYSE:ETD) reported their fourth quarter fiscal year 2023 earnings results, ending June 30, 2023. Total revenue for the quarter decreased 18.4% compared to the same period in the previous year, amounting to USD 187.4 million. Net income for the quarter was USD 25.4 million, representing a 19.4% year-over-year decrease.
Stock Price
The company’s stock opened at $31.0 and closed at $30.6, effectively ending the day down from its previous closing price of $31.3. Despite the drop in earnings, the company still remains one of the most successful home interior suppliers in the country. Ethan Allen Interiors provides furniture, home decor, and accessories to clients around the world. Through their efforts, Ethan Allen has become one of the most respected names in home interior design and furnishings. The company’s fourth quarter report showed that Ethan Allen’s sales were flat compared to the same period last year, with a slight decrease in overall net income. This was likely due to a combination of increased competition from other furniture suppliers and a temporarily slower economy.
Despite these challenges, Ethan Allen Interiors remains committed to providing customers with high-end furnishings and excellent customer service. Ethan Allen Interiors is confident that with the right strategies in place, they will be able to weather any downturns in the economy and remain a leader in home interior design and furnishings. Despite the dip in their fourth quarter earnings, the company remains optimistic about the future and is already working on ways to boost their revenues and improve customer experiences. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for ETD. More…
| Total Revenues | Net Income | Net Margin |
| 791.38 | 105.81 | 13.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for ETD. More…
| Operations | Investing | Financing |
| 103.71 | -13.97 | -49 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for ETD. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 745.45 | 274.45 | 18.58 |
Key Ratios Snapshot
Some of the financial key ratios for ETD are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.3% | 125.6% | 16.9% |
| FCF Margin | ROE | ROA |
| 11.2% | 18.1% | 11.2% |
Analysis
At GoodWhale, we have conducted an analysis of ETHAN ALLEN INTERIORS’ fundamentals and the results are quite impressive. The Star Chart shows that ETHAN ALLEN INTERIORS is strong in asset and profitability, but weak in dividend and growth. We have classified ETHAN ALLEN INTERIORS as a ‘rhino’, which is a type of company that has achieved moderate revenue or earnings growth. We believe that value and income-oriented investors may find ETHAN ALLEN INTERIORS attractive due to its fundamental strength and steady dividend yield. Moreover, ETHAN ALLEN INTERIORS has a high health score of 10/10 with regard to its cashflows and debt, making it capable of safely riding out any crisis without the risk of bankruptcy. More…
Peers
The company offers a wide range of furniture products, including bedroom, dining room, and living room furniture, as well as office, outdoor, and home accents. Ethan Allen Interiors Inc operates through a network of company-owned stores and licensed dealers. Traeger Inc, Whirlpool Corp, and Tempur Sealy International Inc are all major competitors of Ethan Allen Interiors Inc.
– Traeger Inc ($NYSE:COOK)
Traeger Inc has a market cap of 438.66M as of 2022, a Return on Equity of -26.37%. The company manufactures and sells wood pellet grills and related products.
– Whirlpool Corp ($NYSE:WHR)
Whirlpool Corporation is an American multinational manufacturing and marketing company of home appliances, headquartered in Benton Harbor, Michigan. The company has annual revenue of approximately $21 billion, 92,000 employees, and more than 70 manufacturing and technology research centers around the world.
– Tempur Sealy International Inc ($NYSE:TPX)
Tempur Sealy International Inc is a leading manufacturer, marketer and distributor of bedding products. The company’s products include mattresses, pillows, cushions, and other sleep-related accessories. Tempur Sealy International Inc has a market cap of 5.09B as of 2022, a Return on Equity of -287.04%. The company’s products are sold through a network of retailers, including department stores, mass merchandisers, specialty bedding retailers, and its own direct-to-consumer website. Tempur Sealy International Inc is headquartered in Lexington, Kentucky.
Summary
ETHAN ALLEN INTERIORS reported their fourth quarter of fiscal year 2023 earnings on August 2, 2023. Total revenue decreased by 18.4% compared to the previous year, amounting to USD 187.4 million. Net income for the quarter was USD 25.4 million, a decrease of 19.4% from the same period in the prior year.
Investors should consider that the company’s revenue and net income have both significantly dropped. In light of this, careful analysis should be done before investing in ETHAN ALLEN INTERIORS as there may be a risk of further declining profits in the future.
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