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Ethan Allen Interiors Inc. reports developments in interior design, home furnishings manufacturing and retail operations. The company operates Wholesale and Retail segments, sells custom furniture and artisan-crafted accents through design centers, and provides complimentary interior design service under the Ethan Allen brand.
Recurring updates cover fiscal results, operating cash flow, margins, inventories, regular dividends, design center activity, product introductions, marketing and technology initiatives, North American manufacturing, logistics and responsible wood sourcing. News also includes annual meeting and board-related developments tied to the company’s public-company governance.
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Ethan Allen Interiors reported its fiscal 2023 third quarter results, ending March 31, 2023. The company achieved consolidated net sales of $186.3 million, a decrease of 5.7% year-over-year, with retail and wholesale sales declining 9.5% and 5.7%, respectively. Gross margin stood at 59.9%, down from 60.4% due to a shift in sales mix. Operating margin was 15.5%, and adjusted diluted EPS fell by 7.5% to $0.86. Despite these declines, the company reported cash flow from operations of $33.4 million, a 93.2% increase. A dividend increase of 13% to $0.36 per share was announced. With no debt, cash and investments totaled $156.2 million.
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Ethan Allen Interiors Inc. (NYSE: ETD) will announce its financial results for the third quarter of fiscal 2023, ending March 31, 2023, post-market on April 26, 2023. A subsequent conference call for investors is scheduled for 5:00 PM ET to discuss these results, accessible via the Company's Investor Relations website. The call can be joined by U.S. participants at 877-705-2976 or by international participants at 201-689-8798, using meeting number 13736909. Additionally, an archived recording will be available on the website for six months. Ethan Allen is recognized as a leading luxury home fashion brand, integrating product design with manufacturing and personalized service across its retail network.
Ethan Allen Interiors reported a 2.4% decline in consolidated net sales for the fiscal 2023 second quarter, totaling $203.2 million. Despite this, the company achieved a gross margin of 61.0%, up from 58.8% last year, and an operating margin of 18.2%. Adjusted diluted EPS rose by 15.8% to $1.10. The firm continues to maintain strong cash flow, ending the quarter with $140.4 million in cash and no debt. A quarterly cash dividend of $0.32 was declared, representing a 28.0% increase over the prior year. However, retail and wholesale written orders decreased compared to pre-pandemic levels.
Ethan Allen Interiors Inc. (NYSE: ETD) declared a quarterly cash dividend of $0.32 per share, set to be paid on February 21, 2023, for shareholders recorded by the close of business on February 7, 2023. Chairman Farooq Kathwari expressed satisfaction in continuing strong shareholder returns through cash dividends while maintaining a robust cash position. The company is recognized as a leading interior design brand with vertically integrated operations, providing high-quality home furnishings and design services globally.