NASDAQ$HOFT
Hooker Furnishings Corporation · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Hooker Furnishings exceeded pre-pandemic growth pace with sales and profitability gains in the first quarter.
Hooker Furniture Corporation reported record-high sales and earnings for its fiscal 2022 first quarter, with net sales of $162.9 million and net income of $9.4 million, or $0.78 per diluted share. The company surpassed its goal to return to the growth trajectory it was on prior to the global pandemic, with sales up 20% compared to the first quarter two years ago.
- Consolidated net sales increased by 56% compared to the year-ago period, reaching $162.9 million.
- Net income for the first quarter was $9.4 million, or $0.78 per diluted share, representing record-high earnings for the company’s fiscal first quarter.
- The Hooker Branded Segment led the way with an 89% sales increase, while the Home Meridian and Domestic Upholstery segments both reported 46% sales increases.
- Consolidated operating income for the quarter was $12.2 million, a significant improvement compared to the prior year period's operating loss.
Headline financials
Revenue & EPS history
Hooker Furnishings · Revenue · Quarterly
$163M
Revenue by segment
Hooker Furnishings · $69.5M total across 3 segments · Q1 2027
- Hooker Branded$35.3M—50.9%
- Domestic Upholstery$28.4M—40.8%
- All Other$5.77M—8.3%
Forward guidance
Hooker Furniture is cautiously optimistic given strong orders and backlogs, but acknowledges industry-wide supply chain, logistics, and raw materials shortages and inflation. They believe they have mitigated these dynamics as much as possible through surcharges and price increases, yet these supply-side factors are unpredictable and often involve unexpected changes occurring almost daily.
Tailwinds
- Ongoing strong housing market.
- Favorable demographics with the Millennial generation engaging in household formation and home furnishing purchases.
- Consolidated orders and backlogs are more than double historical norms.
- Expect demand for home furnishings will settle into a higher level of demand than pre-pandemic.
- Company is strongly positioned to win in this environment.
Headwinds
- Industry-wide supply chain shortages.
- Industry-wide logistics shortages.
- Industry-wide raw materials shortages.
- Industry-wide inflation.
- Increased competition for consumers’ discretionary income from industries such as travel, apparel, and in-person events as COVID-19 vaccinations continue to roll out.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2022
-0.3%
Avg return
Earnings day
+0.4%
Avg return
5 days after
-0.6%
Avg return
30 days after
50%
33 / 66 earnings
Positive
+23.1%
Q4 2017
Best reaction
-22.6%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | +22.2% | +23.3% | — | |
| Q4 2026 | -13.5% | -7.4% | -9.7% | |
| Q3 2026 | -4.4% | +0.1% | +8.3% | |
| Q2 2026 | -1.1% | -7.5% | -18.5% | |
| Q1 2026 | -1.0% | +0.6% | +3.8% | |
| Q4 2025 | +14.8% | +21.5% | +28.8% | |
| Q3 2025 | -7.4% | -7.1% | -25.3% | |
| Q2 2025 | +1.2% | +3.7% | +8.1% | |
| Q1 2025 | -14.9% | -15.2% | -24.0% | |
| Q4 2024 | -10.7% | -11.9% | -11.1% | |
| Q3 2024 | +15.7% | +17.9% | +20.1% | |
| Q2 2024 | -12.1% | -10.3% | -11.5% | |
| Q1 2024 | +3.6% | +7.5% | +12.0% | |
| Q4 2023 | -5.5% | -4.5% | -2.2% | |
| Q3 2023 | +3.7% | +1.4% | +11.5% | |
| Q2 2023 | -1.0% | -0.1% | -14.1% | |
| Q1 2023 | -5.0% | -8.3% | -7.8% | |
| Q4 2022 | +0.8% | -0.1% | -6.3% | |
| Q3 2022 | -7.6% | -8.6% | -9.9% | |
| Q2 2022 | -9.9% | -10.2% | -13.1% | |
| Q1 2022 | +7.4% | +6.8% | -7.9% | |
| Q4 2021 | -6.7% | -6.4% | +3.0% | |
| Q3 2021 | +1.4% | +2.5% | -1.9% | |
| Q2 2021 | +6.8% | +5.9% | +1.7% | |
| Q1 2021 | +1.6% | +1.8% | +7.7% | |
| Q4 2020 | -11.2% | -14.8% | -17.2% | |
| Q3 2020 | +1.2% | +2.6% | +5.4% | |
| Q2 2020 | +4.7% | +14.2% | +16.7% | |
| Q1 2020 | -22.6% | -26.2% | -20.7% | |
| Q4 2019 | -5.2% | -5.8% | -4.6% | |
| Q3 2019 | +1.5% | +3.1% | +3.1% | |
| Q2 2019 | -10.3% | -13.1% | -27.9% | |
| Q1 2019 | +21.3% | +23.4% | +27.0% | |
| Q4 2018 | +5.9% | +3.6% | +0.8% | |
| Q3 2018 | -14.0% | -19.8% | -21.3% | |
| Q2 2018 | +10.3% | +6.6% | +19.0% | |
| Q1 2018 | -7.5% | -5.5% | -8.0% | |
| Q4 2017 | +23.1% | +30.7% | +45.3% | |
| Q3 2017 | +9.5% | +21.5% | +27.9% | |
| Q2 2017 | +6.8% | +3.8% | +2.7% | |
| Q1 2017 | -6.7% | -2.1% | -12.8% | |
| Q4 2016 | -19.9% | — | — | |
| Q3 2016 | -5.5% | — | — | |
| Q2 2016 | -3.9% | — | — | |
| Q1 2016 | +3.9% | — | — | |
| Q4 2015 | +14.1% | — | — | |
| Q3 2015 | +4.6% | — | — | |
| Q2 2015 | +0.3% | — | — | |
| Q1 2015 | +18.2% | — | — | |
| Q4 2014 | -0.7% | — | — | |
| Q3 2014 | +0.6% | — | — | |
| Q2 2014 | -3.6% | — | — | |
| Q1 2014 | -6.9% | — | — | |
| Q4 2013 | +3.7% | — | — | |
| Q3 2013 | +2.0% | — | — | |
| Q2 2013 | +4.1% | — | — | |
| Q1 2013 | -0.1% | — | — | |
| Q4 2012 | +5.0% | — | — | |
| Q3 2012 | -0.3% | — | — | |
| Q2 2012 | +4.9% | — | — | |
| Q1 2011 | -5.7% | — | — | |
| Q1 2012 | -3.5% | — | — | |
| Q4 2011 | -8.2% | — | — | |
| Q2 2011 | -8.2% | — | — | |
| Q3 2011 | +1.1% | — | — | |
| Q4 2010 | +1.1% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro