Haverty Furniture Companies, Inc. Stock Price, News & Analysis

HAVERTYS (NYSE:HVT and HVT.A) will announce its Q1 2023 financial results on May 2, 2023, post-market. A conference call for investors and analysts is scheduled for May 3, 2023, at 10:00 a.m. ET, where operational results will be discussed. Interested parties can access the live webcast on Havertys' official website, which will also be available for replay from 1:00 p.m. ET on the same day. Established in 1885, Havertys operates 123 showrooms across the Southern and Midwestern U.S., offering a broad selection of quality home furnishings.

Havertys (NYSE:HVT and HVT.A) has appointed Katie R. Mendolera as senior vice president of strategic development and real estate, effective March 24, 2023. Mendolera brings extensive experience from her previous role at Truist Securities, where she specialized in corporate banking for retail and consumer sectors. In her new position, she will manage real estate operations focusing on store expansion and strategic development. Her prior involvement with Havertys includes significant transactions, such as a $70 million sale-leaseback of distribution facilities. Mendolera succeeds Rawson Haverty, Jr., who retires after a 40-year tenure with the company.

Havertys (NYSE:HVT, HVT.A) declared a cash dividend of $0.28 per share for its common stock and $0.26 for Class A common stock. This dividend will be paid on March 27, 2023, to shareholders on record as of March 10, 2023. As a testament to financial stability, Havertys has consistently paid dividends annually since 1935, underscoring a long-standing commitment to returning value to its shareholders. The company operates 123 showrooms across 16 states, offering a diverse selection of home furnishings.

Havertys (NYSE:HVT, HVT.A) reported strong financial results for Q4 and FY 2022, highlighting continued growth despite economic challenges. Q4 2022 earnings per share (EPS) increased to $1.42 from $1.35, with consolidated sales rising 5.5% to $280.6 million. For FY 2022, EPS reached $5.24 compared to $4.90 the previous year, and sales hit a record $1.047 billion, marking the second consecutive year above $1 billion. Gross profit margin improved to 57.7%. However, the company acknowledged inflation and rising interest rates affecting operating costs and expressed caution about the consumer spending environment. Shareholders received $63.9 million in returns through dividends and share repurchases.

Havertys (HVT, HVT.A) announced its participation in the Sidoti December Virtual Investor Conference on December 7, 2022. CEO Clarence H. Smith and CFO Richard B. Hare will present and engage in one-on-one meetings with investors. The presentation starts at 9:15 AM ET and will be accessible live. Registration for the event is free, enabling investors to directly interact with Havertys management. Established in 1885, Havertys is a home furnishings retailer with 122 showrooms across the Southern and Midwestern U.S.