[8-K] HAVERTY FURNITURE COMPANIES INC Reports Material Event

Rhea-AI Filing Summary

Havertys reported solid fourth quarter and full-year 2025 results, combining higher sales with stable earnings and a strong balance sheet. Fourth quarter 2025 sales rose to $201.9 million, up 9.5% from 2024, with comparable store sales up 8.2% and diluted EPS increasing to $0.51 from $0.49. Full-year 2025 sales grew 5.0% to $759.0 million, while diluted EPS held at $1.19. Gross margin was 60.7% for the year, and excluding LIFO effects, improved to 61.3% from 60.6%.

The company ended 2025 with $131.9 million in cash, no debt, and generated $32.9 million in free cash flow. It returned $25.6 million to shareholders through dividends and share repurchases and announced a new $15.0 million stock repurchase authorization, leaving $18.3 million available as of February 24, 2026. Management plans five store openings in 2026, entry into Pittsburgh, and expects 2026 gross margin between 60.5% and 61.0%, with SG&A and capex increasing mainly from growth and inflation, while noting tariff changes could materially affect results.

Insights

Equity research analyst

Sales growth is healthy, earnings are steady, and the balance sheet remains very strong, with modest expansion and buybacks planned for 2026.

Havertys delivered Q4 2025 revenue of $201.9 million, up 9.5%, with comp-store sales up 8.2%. Diluted EPS ticked up to $0.51, while full-year EPS held at $1.19 on $759.0 million of sales, up 5.0%. LIFO-adjusted gross margin improved, signaling underlying pricing and merchandising discipline despite tariff-related volatility.

Operating leverage was mixed: SG&A rose in dollars but declined as a percentage of Q4 sales to 55.7%, helped by higher volume but pressured by incentive compensation, stock-based pay, and selling costs. EBITDA increased to $45.5 million for 2025, and free cash flow rose to $32.9 million, supporting dividends and repurchases. The company finished the year with $131.9 million in cash and no debt, providing flexibility.

Management authorized another $15.0 million for share repurchases and plans about $33.5 million of 2026 capex tied to five new stores and entry into Pittsburgh. Guidance calls for 2026 gross margins of 60.5–61.0% and higher SG&A from growth and inflation. The Supreme Court’s invalidation of 2025 tariffs and the administration’s new tariff plans introduce uncertainty that the company says could materially affect results, so execution against its 2026 margin and expense targets will be important in upcoming quarterly reports.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________

FORM 8-K

___________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

February 24, 2026 (February 24, 2026)

Date of Report (date of earliest event reported)

___________________________________

HAVERTY FURNITURE COMPANIES, INC.

(Exact name of registrant as specified in its charter)

___________________________________

Maryland (State or other jurisdiction of incorporation or organization)			1-14445 (Commission File Number)			58-0281900 (I.R.S. Employer Identification Number)
780 Johnson Ferry Road, NE, Suite 800 Atlanta, Georgia 30342
(Address of principal executive offices and zip code)
(404) 443-2900
(Registrant's telephone number, including area code)

___________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class			Trading Symbol			Name of each exchange on which registered
Common Stock			HVT			NYSE
Class A Common Stock			HVTA			NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.

Emerging growth company    ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.02 - Results of Operations and Financial Condition

On February 24, 2026, Haverty Furniture Companies, Inc. (the “Company”) issued a press release announcing its results of operations for the quarter ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 and incorporated by reference herein.

The information in this Current Report on Form 8-K, including exhibits, is being furnished to the Securities and Exchange Commission (the “SEC”) pursuant to Item 2.02 of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any of the Company’s filings with the SEC under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 - Financial Statements and Exhibits

(d): Exhibits. The following exhibits are being filed herewith:

Exhibit No.						Description
99.1						Press Release dated February 24, 2026, issued by the Company.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 24th day of February, 2026.

HAVERTY FURNITURE COMPANIES, INC.
By:			/s/ Brendan P. McGill
Name:			Brendan P. McGill
Title:			Senior Vice President, General Counsel and Corporate Secretary

NEWS RELEASE – February 24, 2026        Exhibit 99.1

Havertys Reports Operating Results for Fourth Quarter 2025

ATLANTA, GA / ACCESSWIRE / February 24, 2026 / HAVERTYS (NYSE: HVT) and (NYSE: HVT.A), today reported its operating results for the fourth quarter ended December 31, 2025.

Fourth quarter 2025 versus fourth quarter 2024:

•Diluted earnings per common share (“EPS”) of $0.51 versus $0.49.

•Consolidated sales increased 9.5% to $201.9 million. Comparable store sales increased 8.2%.

•Gross profit margin of 60.4% versus 61.9%. Excluding the impact of LIFO, gross profit margin was 62.4% for 2025 and 61.4% for 2024.

FY 2025 versus FY 2024:

•Diluted earnings per common share (“EPS”) of $1.19 for 2025 and 2024.

•Consolidated sales increased 5.0% to $759.0 million. Comparable store sales increased 2.1%.

•Gross profit margin was 60.7% for 2025 and 2024. Excluding the impact of LIFO, gross profit margin was 61.3% for 2025 and 60.6% for 2024.

•Pre-tax income of $26.8 million versus $26.2 million.

Stock Repurchase Program:

•The Board of Directors approved an additional $15 million authorization for the Company's stock repurchase program.

Steven G. Burdette, President and CEO, said, "Our fourth quarter results were highlighted by our second consecutive quarter of growth in both written and delivered sales and comp-store sales. This sustained momentum reflects the effectiveness of our customer-first approach and strategic marketing investments, which continue to drive traffic and increase average tickets while maintaining strong gross margins, even as we navigate persistent industry headwinds. We are pleased to announce that we plan to enter our 18th state, in Pittsburgh, Pennsylvania, later this year, bringing our total planned store openings for 2026 to five locations.

In 2025, we returned $25.6 million to our shareholders through $4.8 million in share repurchases and $20.8 million in quarterly dividends. Our disciplined capital management approach reflects our commitment to delivering long-term value while maintaining the financial strength needed to grow in a challenging environment.

Our 2025 results demonstrate that our strategic initiatives and clear value proposition continue to resonate. We are encouraged by the positive momentum in our business and remain focused on delivering sustainable growth and long-term value for our customers and shareholders."

NEWS RELEASE – February 24, 2026        

Fourth Quarter ended December 31, 2025 Compared to Same Period of 2024

•Total sales up 9.5%, comp-store sales up 8.2% for the quarter. Total written sales increased 3.5% and written comp-store sales increased 3.2% for the quarter.

•Design consultants accounted for 33.3% of written business in 2025 and 31.8% in 2024.

•Gross profit margins decreased 150 basis points to 60.4% in 2025 from 61.9% in 2024. In 2025, the change in LIFO reserve generated a negative impact of $3.9 million compared to a positive impact of $0.9 million in 2024.

•SG&A expenses were 55.7% of sales versus 57.4% and increased $6.6 million. The primary drivers of this change are:

•increase of $2.9 million in selling expenses due to higher commissioned-based compensation and third-party credit costs.

•increase of $3.1 million in administrative expenses due to performance-based incentive compensation and stock based compensation costs.

Balance Sheet and Cash Flow

•Cash, cash equivalents, and restricted cash equivalents at December 31, 2025 are $131.9 million.

•Generated $52.6 million in cash from operating activities primarily from earnings and changes in working capital, including a $12.7 million increase in inventories, a $5.2 million decrease in customer deposits, a $12.3 million decrease in other assets and liabilities and an $8.1 million increase in accrued liabilities and vendor repayments.

•Invested $19.7 million in capital expenditures.

•Purchased 216,482 shares of common stock for $4.8 million.

•Paid $20.8 million in quarterly cash dividends in 2025.

•No debt outstanding at December 31, 2025 and credit availability of $80.0 million.

Expectations and Other

•On February 20, 2026, the Supreme Court invalidated the tariffs imposed by the administration under the International Emergency Economic Protection Act during 2025, and the administration announced its intention to impose new tariffs under different regulations.  Our 2026 guidance includes the impact of the new tariffs announced by the administration.  We continue to monitor tariff developments and assess their potential impact on our business as such changes could have a material impact on our results of operations.

•We expect gross profit margins for 2026 will be between 60.5% to 61.0%. Gross profit margins fluctuate quarter to quarter in relation to our promotional cadence. Our estimated gross profit margins for 2026 are based on anticipated product and freight costs and the impact on our LIFO reserve.

•Fixed and discretionary expenses within SG&A for the full year of 2026 are expected to be in the $307.0 to $309.0 million range. The increases over 2025 are primarily from store growth and inflation. Variable SG&A expenses for the full year of 2026 are anticipated to be in the 18.6% to 18.8% range.

•Our effective tax rate for 2026 is expected to be 26.0% excluding the impact of discrete items and any new tax legislation.

•Planned capital expenditures are approximately $33.5 million in 2026, an increase over 2025 due to our planned store growth for the year.

NEWS RELEASE – February 24, 2026        

Stock Repurchase Program

The Company also reported today that, on February 20, 2026, its Board of Directors approved a new authorization under its stock repurchase program that permits the Company to purchase an additional $15.0 million of its common stock and Class A common stock. As of February 24, 2026, there is approximately $18.3 million remaining under the existing authorization. Shares may be repurchased, at the Company's discretion, from time-to-time in the open market.

Key Results

(amounts in millions, except per share amounts)

Results of Operations
						Three Months Ended December 31,												Twelve Months Ended December 31,
						2025						2024						2025						2024
Sales						$	201.9					$	184.4					$	759.0					$	722.9
Gross Profit						122.0						114.2						460.5						439.1
Gross profit as a % of sales						60.4			%			61.9			%			60.7			%			60.7			%
SGA
Variable						38.2						34.8						141.6						139.8
Fixed						74.3						71.0						297.7						279.4
Total						112.5						105.8						439.3						419.2
SGA as a % of sales
Variable						18.9			%			18.9			%			18.7			%			19.4			%
Fixed						36.8			%			38.5			%			39.2			%			38.6			%
Total						55.7			%			57.4			%			57.9			%			58.0			%
Pre-tax income						10.8						9.6						26.8						26.2
Pre-tax income as a % of sales						5.3			%			5.2			%			3.5			%			3.6			%
Net income						8.5						8.2						19.7						20.0
Net income as a % of sales						4.2			%			4.4			%			2.6			%			2.8			%
Diluted earnings per share (“EPS”)						$	0.51					$	0.49					$	1.19					$	1.19

Other Financial and Operations Data
						Twelve Months Ended December 31,
						2025						2024
EBITDA (in millions)(1)						$	45.5					$	41.7
Sales per square foot						$	167					$	164
Average ticket						$	3,530					$	3,371

NEWS RELEASE – February 24, 2026        

Liquidity Measures
						Twelve Months Ended December 31,																		Twelve Months Ended December 31,
Free Cash Flow						2025						2024						Cash Returns to Shareholders						2025						2024
Operating cash flow						$	52.6					$	58.9					Share repurchases						$	4.8					$	5.0
Capital expenditures						(19.7)						(32.1)						Dividends						20.8						20.5
Free cash flow						$	32.9					$	26.8					Cash return to shareholders						$	25.6					$	25.5

(1)See the reconciliation of the non-GAAP metrics at the end of the release.

HAVERTY FURNITURE COMPANIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

(In thousands, except per share data)			Three Months Ended December 31,												Twelve Months Ended December 31,
			2025						2024						2025						2024
Net sales			$	201,919					$	184,353					$	758,995					$	722,899
Cost of goods sold			79,871						70,196						298,498						283,821
Gross profit			122,048						114,157						460,497						439,078
Expenses:
Selling, general and administrative			112,463						105,826						439,327						419,221
Other expense (income), net			29						200						(543)						(214)
Total expenses			112,492						106,026						438,784						419,007
Income before interest and income taxes			9,556						8,131						21,713						20,071
Interest income, net			1,233						1,501						5,120						6,082
Income before income taxes			10,789						9,632						26,833						26,153
Income tax expense			2,255						1,437						7,103						6,197
Net income			$	8,534					$	8,195					$	19,730					$	19,956
Basic earnings per share:
Common Stock			$	0.53					$	0.50					$	1.22					$	1.23
Class A Common Stock			$	0.50					$	0.48					$	1.14					$	1.15
Diluted earnings per share:
Common Stock			$	0.51					$	0.49					$	1.19					$	1.19
Class A Common Stock			$	0.50					$	0.47					$	1.14					$	1.15
Cash dividends per share:
Common Stock			$	0.33					$	0.32					$	1.29					$	1.26
Class A Common Stock			$	0.31					$	0.30					$	1.21					$	1.18

NEWS RELEASE – February 24, 2026        

HAVERTY FURNITURE COMPANIES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands)			December 31, 2025						December 31, 2024
Assets
Current assets
Cash and cash equivalents			$	125,325					$	120,034
Restricted cash and cash equivalents			6,547						6,280
Inventories			96,155						83,419
Prepaid expenses			10,236						14,576
Other current assets			11,064						14,587
Total current assets			249,327						238,896
Property and equipment, net			177,207						182,622
Right-of-use lease assets			190,586						194,411
Deferred income taxes			19,301						17,075
Other assets			12,631						15,743
Total assets			$	649,052					$	648,747
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable			$	15,447					$	14,914
Customer deposits			35,504						40,733
Accrued liabilities			46,531						39,635
Current lease liabilities			35,967						36,283
Total current liabilities			133,449						131,565
Noncurrent lease liabilities			180,450						182,096
Other liabilities			27,224						27,525
Total liabilities			341,123						341,186
Stockholders’ equity			307,929						307,561
Total liabilities and stockholders’ equity			$	649,052					$	648,747

NEWS RELEASE – February 24, 2026        

HAVERTY FURNITURE COMPANIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(In thousands)			Twelve Months Ended December 31,
			2025						2024
Cash Flows from Operating Activities:
Net income			$	19,730					$	19,956
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			23,822						21,611
Net loss on asset impairment			469						—
Stock-based compensation			7,311						6,742
Deferred income taxes			(2,145)						(1,472)
Net gain on sale of land, property, and equipment			(15)						(153)
Other			1,094						1,123
Changes in operating assets and liabilities:
Inventories			(12,736)						10,537
Customer deposits			(5,229)						4,896
Other assets and liabilities			12,254						7,051
Accounts payable and accrued liabilities			8,089						(11,382)
Net cash provided by operating activities			52,644						58,909
Cash Flows from Investing Activities:
Capital expenditures			(19,672)						(32,092)
Proceeds from sale of land, property and equipment			111						461
Net cash used in investing activities			(19,561)						(31,631)
Cash Flows from Financing Activities:
Dividends paid			(20,837)						(20,468)
Common stock repurchased			(4,778)						(4,991)
Taxes on vested restricted shares			(1,910)						(3,282)
Net cash used in financing activities			(27,525)						(28,741)
Change in cash, cash equivalents and restricted cash equivalents during the period			5,558						(1,463)
Cash, cash equivalents and restricted cash equivalents at beginning of period			126,314						127,777
Cash, cash equivalents and restricted cash equivalents at end of period			$	131,872					$	126,314

NEWS RELEASE – February 24, 2026        

GAAP to Non-GAAP Reconciliation

We report our financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). We supplement the reporting of our financial information under GAAP with certain non-GAAP financial information. The non-GAAP information presented provides additional useful information but should not be considered in isolation or as substitutes for the related GAAP measures. We believe that EBITDA is a meaningful measure to share with investors because it allows comparison of operational performance for the comparable period. Additionally, we believe that gross profit margin, excluding the impact of LIFO, is a meaningful measure to share because it removes the volatility created by LIFO adjustments resulting from the tariff-related U.S. policy changes in 2025.

Reconciliation of GAAP measures to EBITDA

						Twelve Months Ended December 31,
(in thousands)						2025						2024
Income before income taxes, as reported						$	26,833					$	26,153
Interest income, net						(5,120)						(6,082)
Depreciation						23,822						21,611
EBITDA						$	45,535					$	41,682

Gross profit margin, excluding the impact of LIFO

						Three Months Ended December 31,
(in thousands)						2025						2024
Net sales						$	201,919					$	184,353
Cost of goods sold						79,871						70,196
Gross profit						$	122,048					$	114,157
LIFO Adjustment						3,895						(900)
Gross Profit, excluding the impact of LIFO						$	125,943					$	113,257
Gross Profit Margin, excluding the impact of LIFO						62.4		%				61.4		%

						Twelve Months Ended December 31,
(in thousands)						2025						2024
Net sales						$	758,995					$	722,899
Cost of goods sold						298,498						283,821
Gross profit						$	460,497					$	439,078
LIFO Adjustment						4,649						(807)
Gross Profit, excluding the impact of LIFO						$	465,146					$	438,271
Gross Profit Margin, excluding the impact of LIFO						61.3		%				60.6		%

Comparable Store Sales 

Comparable-store or “comp-store” sales is a measure which indicates the performance of our existing stores and website by comparing the sales growth for stores and online for a particular month over the corresponding month in the prior year. Stores are considered non-comparable if they were not open during the corresponding month or if the selling square footage has been changed significantly.

NEWS RELEASE – February 24, 2026        

Cost of Goods Sold and SG&A Expense  

We include substantially all our occupancy and home delivery costs in SG&A expense as well as a portion of our warehousing expenses.  Accordingly, our gross profit may not be comparable to those entities that include these costs in cost of goods sold.  

We classify our SG&A expenses as either variable or fixed and discretionary.  Our variable expenses are comprised of selling and delivery costs.  Selling expenses are primarily compensation and related benefits for our commission-based sales associates, the discount we pay for third party financing of customer sales and transaction fees for credit card usage.  We do not outsource delivery, so these costs include personnel, fuel, and other expenses related to this function.  Fixed and discretionary expenses are comprised of rent, depreciation and amortization and other occupancy costs for stores, warehouses and offices, and all advertising and administrative costs.  

Conference Call Information

The company invites interested parties to listen to the live webcast of the conference call on February 24, 2026 at 10:00 a.m. ET at its website, ir.havertys.com. If you cannot listen live, a replay will be available on the day of the conference call at the website at approximately 12:00 p.m. ET.

About Havertys

Havertys (NYSE: HVT and HVT.A), established in 1885, is a full-service home furnishings retailer with 129 showrooms in 17 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle to upper-middle price ranges. Additional information is available on the Company’s website havertys.com.  

Safe Harbor

This press release contains, and the conference call may contain forward-looking statements subject to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are subject to risks and uncertainties and change based on various important factors, many of which are beyond our control.  

All statements in the future tense and all statements accompanied by words such as “expect,” “likely,” “outlook,” “forecast,” “preliminary,” “would,” “could,” “should,” “position,” “will,” “project,” “intend,” “plan,” “on track,” “anticipate,” “to come,” “may,” “possible,” “assume,” and variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, our expectations for retail and operating margins, selling square footage and capital expenditures for 2026, our liquidity position to continue to fund our growth plans, and our efforts and initiatives to execute our strategic plan.

We caution that our forward-looking statements involve risks and uncertainties, and while we believe that our expectations for the future are reasonable in view of currently available information you are cautioned not to place undue reliance on our forward-looking statements, and they should not be relied upon as a prediction of actual results. Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements include but are not limited to: competition from national, regional and local retailers of home furnishings; our ability to anticipate changes in consumer preferences; our ability to successfully implement our growth and other strategies; our ability to maintain and enhance our brand; importing merchandise from foreign sources; fluctuations and volatility in the cost of raw materials and components; our dependence on third-party producers to meet our requirements; our vendors' ability to meet our quality control standards or comply with changes to the legislative or regulatory framework regarding product safety; risks in our supply chain, including price, availability

NEWS RELEASE – February 24, 2026        

and quality of raw materials and components utilized in the products we sell and our ability to forecast our supply chain needs; our reliance on third-party transportation vendors for product shipments from our suppliers; the effects of labor disruptions or labor shortages; and our ability to attract and retain key employees; the rise of oil and gasoline prices; increased transportation costs; damage to one of our distribution centers; the vulnerability of our information technology infrastructure to cyber-attacks, breaches and other disruptions; changes in general domestic and international economic conditions such as inflation rates, interest rates, tax rates, unemployment rates, higher labor and healthcare costs, recessions, and changing government policies, laws and regulations; pending or unforeseen litigation; as well as other risks and uncertainties discussed in the Company's Annual Report on Form 10-K and from time to time in the Company's subsequent filings with the SEC. 

Forward-looking statements describe our expectations only as of the date they are made, and the Company undertakes no duty to update its forward-looking statements except as required by law. You are advised, however, to review any further disclosures we make on related subjects in our subsequent Forms 10-K, 10-Q, 8-K, and other reports filed with the SEC. 

Contact: 

Havertys 404-443-2900 

Tiffany Hinkle

AVP, Financial Reporting 

SOURCE:  Haverty Furniture Companies, Inc.

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