Ethan Allen Interiors Inc Stock Price, News & Analysis

Ethan Allen Interiors reported strong financial results for Q3 2022, with net sales rising 11.7% to $197.7 million and a gross margin of 60.4%. Diluted EPS surged 59% to $0.97. The company maintains a robust balance sheet with $104.6 million in cash and no debt. Despite strong performance, challenges like inflation and supply chain issues were acknowledged. Ethan Allen's Board declared a 10% increase in the quarterly dividend to $0.32 per share, reflecting confidence in long-term growth amidst market uncertainties.

Ethan Allen Interiors Inc. (NYSE:ETD) has announced a 10% increase in its regular quarterly cash dividend, now at $0.32 per share, payable on May 25, 2022. Shareholders on record by May 10, 2022 will receive this dividend. Chairman Farooq Kathwari highlighted the company's strong balance sheet and vertical integration, with 75% of products made in North America, as key factors enabling this return to shareholders. The company is set to release its fiscal 2022 third quarter financial results on April 28, 2022.

Ethan Allen has launched a new Design Center in Walnut Creek, CA, enhancing client experience through collaboration with professional interior designers. This location showcases the company’s extensive product portfolio using advanced 3D technology for realistic previews. The center aims to improve customer service with complimentary design consultations either in-person or virtually. With 75% of products manufactured in North America, Ethan Allen emphasizes value and competitive delivery in challenging market conditions. The Walnut Creek center operates seven days a week, offering personalized service and a wide range of furnishings.

Ethan Allen Interiors Inc. (NYSE: ETD) will release its financial results for Q3 of fiscal 2022 on April 28, 2022, after market close. A conference call for analysts to discuss these results will take place at 5:00 PM ET the same day, accessible via the Company's Investor Relations website. The Company, a leader in interior design and home furnishings, operates ten manufacturing facilities in North America, with approximately 75% of products made or assembled locally. For further details, visit www.ethanallen.com.

Ethan Allen Interiors Inc. (NYSE: ETD) announced the acquisition of assets from Dimension Wood Products, enhancing its vertical integration. This strategic purchase aims to bolster control over raw materials and labor costs while ensuring high-quality standards. Dimension Wood Products, a supplier since 1981, specializes in wood frames and machined parts for upholstery. CEO Farooq Kathwari underscored that this move will strengthen operational capabilities. Ethan Allen operates nine manufacturing facilities across North America, producing approximately 75% of its products domestically.

Ethan Allen has launched its seventh Design Center in Connecticut, located in Westport. The center emphasizes the company's unique American style and includes complimentary interior design services enhanced by 3D digital design tools. Clients can collaborate with professional designers in a high-tech environment, viewing realistic 3D floor plans. According to CEO Farooq Kathwari, the Design Center enables flexibility for clients, supporting virtual appointments, while showcasing Ethan Allen's extensive range of products, 75% of which are made in North America.

Ethan Allen Interiors reported a strong performance for Q2 FY2022, with net sales increasing by 16.4% to $208.1 million. The gross margin rose to 58.8%, and adjusted EPS reached $0.95, marking a 37.7% increase. The company generated $5.7 million in operating cash flow, and ended the quarter with $105.2 million in cash and no debt. Challenges such as supply chain issues and inflation were acknowledged, but Ethan Allen maintained a positive outlook, citing strong demand and strategic pricing. A 16% increase in dividends was also announced.

Ethan Allen Interiors Inc. (NYSE: ETD) announced the election of María Eugenia (Gina) Casar to its Board of Directors on January 25, 2022. Casar brings extensive expertise in finance and ESG, having served in senior roles at the United Nations and various organizations. The Board also declared a quarterly cash dividend of $0.29 per share, payable on February 23, 2022, to shareholders of record by February 8, 2022. CEO Farooq Kathwari expressed confidence in their growth potential, thanks to their skilled team and strong distribution network.