HVT Stock Fair Value Calculator – HAVERTY FURNITURE COMPANIES Reports Fourth Quarter Earnings Results for 2022.

Earnings Overview

HAVERTY ($NYSE:HVT): On February 21, 2023, HAVRETY FURNITURE COMPANIES reported their earnings results for the fourth quarter of the fiscal year 2022 which had ended on December 31, 2022. Total revenue was USD 23.7 million, a decrease of 2.3% compared to the same period the previous year. However, net income for the quarter increased by 5.5%, amounting to USD 280.6 million year over year.

Transcripts Simplified

In the fourth quarter of 2022, net sales were $280.6 million, a 5.5% increase over the prior quarter. Comparable store sales increased 5.8%. Gross profit margins increased 60 basis points to 57% from 56.4%. SG&A expenses increased $10.5 million or 8.9% to $128.5 million. Other income and expense was negligible, but interest income increased $920,000. Income before taxes increased $400,000 to $32.5 million and net income was $23.7 million or $1.42 per diluted share on common stock compared to the prior year.

Inventories were up $6.3 million and customer deposits were down $50.9 million. Cash and cash equivalents totaled $123.1 million, with no debt on the balance sheet. The revolving credit facility was increased to $80 million and the term extended to October 2027. Share repurchases totaled $30 million and there is $20 million of authorization remaining in the buyback program. The company returned approximately $64 million to shareholders in the form of share repurchases, regular dividends, and special dividends.

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for HVT. More…

Key Ratios Snapshot

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Stock Price

The stock opened at $36.1 and closed at $35.0, a decrease of 4.0% from the previous closing price of 36.5. This was the fourth quarterly earnings report for the company since it went public in 2021. The company attributed this growth to strong demand in their online and direct-to-consumer channels.

Overall, HAVERTY FURNITURE COMPANIES reported a solid fourth quarter for 2022, with increased net sales and a strong focus on growing its digital presence. Going forward, the company plans to continue its investments in technology, digital marketing, and customer initiatives in order to further drive growth. Live Quote…

Analysis – HVT Stock Fair Value Calculator

At GoodWhale, our goal is to provide investors with independent and comprehensive analysis of stocks. Today, we will be analyzing the fundamentals of Haverty Furniture Companies. Our proprietary Valuation Line indicates that the fair value of Haverty Furniture Companies is around $32.7. This means that the stock is currently trading at $35.0, which is a fair price, but is slightly overvalued by 7.1%. Before making any investment decisions, it is wise to consider all available information, such as the company’s financials, competitive landscape, and most recent news. We encourage our readers to do their own research to assess how Haverty Furniture Companies’ stock might be a good fit for their portfolio. More…

Peers

The furniture market is highly competitive, with many companies vying for market share. Among these is Haverty Furniture Companies Inc, which competes with the likes of Maisons du Monde France SA, Temple & Webster Group Ltd, Arhaus Inc, and others. In order to succeed, Haverty Furniture must offer a unique and appealing product that resonates with consumers.

– Maisons du Monde France SA ($OTCPK:MDOUF)

With a market cap of 423.92M as of 2022, Maisons du Monde France SA is a large company with a ROE of 9.35%. The company specializes in selling furniture and home decor items.

– Temple & Webster Group Ltd ($ASX:TPW)

Temple & Webster Group Ltd is an online home furnishings and decor retailer based in Australia. As of 2022, the company had a market capitalization of 677 million Australian dollars and a return on equity of 8.34%. The company sells a range of home furnishings and decor products through its website, including furniture, homewares, and lighting. It also offers a home styling service, which provides customers with advice on how to style their homes.

– Arhaus Inc ($NASDAQ:ARHS)

Arhaus Inc. is a publicly traded company with a market capitalization of $1.17 billion as of 2022. The company’s return on equity, a measure of profitability, was 50.99% as of the same year. Arhaus is a retailer of home furnishing products, specializing in sofas, chairs, and other upholstered items. The company operates a chain of retail stores in the United States and also offers its products online.

Summary

Haverty Furniture Companies reported its fourth quarter of fiscal year 2022 earnings on February 21, 2023. Revenue was USD 23.7 million, a 2.3% decrease from the previous year.

However, net income increased 5.5% to USD 280.6 million year over year. Despite the revenue decline, the positive net income provides investors some confidence in the company’s performance. The stock price moved down the same day, however it is likely due to the revenue decline and investors may want to look more closely at the underlying factors such as cost reduction efforts and market conditions to make a more informed decision when considering investing in Haverty Furniture Companies.