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

Havertys (NYSE: HVT, HVT.A) will participate in the inaugural Shareholder Equity Conference on July 12, 2021, at 3:10 p.m. ET. The virtual event, hosted by Asbury Investor Relations and Stockperks, allows retail investors to interact with management during a fireside chat format. Interested parties can access a live stream of the presentation on Havertys' website and an archived replay will be available for 90 days post-event. Established in 1885, Havertys serves customers in 16 states with a variety of home furnishings.

Havertys (NYSE: HVT, HVT-A) announced a 13.6% increase in its quarterly cash dividend, raising it from $0.22 to $0.25 per share for common stock and from $0.20 to $0.23 for Class A common stock. The dividend, which reflects strong operating results, will be paid on June 16, 2021, to shareholders on record as of June 1. This marks the continuation of Havertys' commitment to return value to its shareholders, having paid dividends annually since 1935.

HAVERTYS (NYSE: HVT, HVT-A) reported a robust first quarter for 2021, with diluted earnings per share reaching $1.04 compared to $0.09 in 2020. Consolidated sales surged 31.8% to $236.5 million, while comparable store sales rose 11.5%. Gross profit margins improved to 57.1% due to pricing discipline. The company generated $19.6 million in cash from operations, and total cash and equivalents reached $210.1 million. Despite ongoing supply chain challenges, demand remains strong, though future consumer spending may shift.

Havertys (NYSE: HVT, HVT-A) is set to release its Q1 2021 financial results on April 27, 2021, after market close. Following this, a conference call for investors and analysts will be held on April 28, 2021, at 10:00 a.m. ET. The call will be accessible via live audiocast on their website, with a replay available until May 8, 2021. Havertys, a home furnishings retailer established in 1885, operates 121 showrooms across 16 states, offering a diverse range of quality products at middle to upper-middle price points.

On February 23, 2021, Havertys (NYSE: HVT, HVT-A) announced key promotions in its leadership team, with Steven Burdette becoming president on March 1, 2021. He brings over 37 years of experience with Havertys, previously serving as executive vice president of operations. The board declared a cash dividend of $0.22 per common share and $0.20 per Class A common share, payable on March 25, 2021, to shareholders of record as of March 12, 2021. Havertys has consistently paid dividends since 1935. This strategic leadership change aims to enhance the company's growth.

Havertys reported robust performance for Q4 and FY 2020, showcasing diluted EPS of $1.37 for Q4 2020, significantly up from $0.31 in Q4 2019. Consolidated sales grew by 12.9% to $241.3 million in Q4, while annual sales decreased 6.7% to $748.3 million due to mid-year operational pauses. Adjusted EPS reached $1.37 for Q4 and $1.88 for FY. Despite challenges in merchandise availability, the company maintained a strong balance sheet, returning $70 million to shareholders through dividends and stock repurchases. Future gross profit margins are projected between 55.3% and 55.8% for 2021.

Havertys (NYSE: HVT and HVT.A) will announce its fourth quarter and full-year 2020 financial results on February 17, 2021, after market close. A conference call for investors and analysts is scheduled for February 18, 2021, at 10:00 a.m. (ET) to discuss the results. The live audiocast can be accessed via Havertys' website, with a replay available until February 25, 2021. The company, established in 1885, is a retailer in the home furnishings sector, operating 120 showrooms across 16 states.Forward-looking statements will cover various operational aspects, including the impact of the COVID-19 pandemic.

Havertys (NYSE: HVT, HVT-A) reported a 3.9% increase in third-quarter sales for 2020, reaching $217.5 million, compared to $209.3 million in Q3 2019. Notably, comparable store sales increased by 4.0%. Total written sales surged 22.8% year-over-year. Despite a 13.9% decline in sales for the first nine months of 2020 due to store closures amid the pandemic, demand has remained strong since reopening. The company aims to match delivery capacity with heightened demand, although product availability is currently constrained in certain categories.

HAVERTYS (NYSE: HVT, HVT-A) has appointed Derek G. Schiller, current President and CEO of the Atlanta Braves, to its board of directors. Schiller has over 17 years of experience with the Braves, where he manages critical business operations including corporate partnerships and ticket sales. His leadership was pivotal in developing Truist Park and The Battery Atlanta. Havertys is a home furnishings retailer operating 120 showrooms across 16 states, catering to middle and upper-middle price ranges.