NASDAQ$HOFT
Hooker Furnishings Corporation · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported a decrease in net sales and net income compared to the previous year, but sales improved compared to the last quarter.
Hooker Furnishings reported a decrease in consolidated net sales and net income for the first quarter of fiscal 2023 compared to the prior year, primarily due to COVID-related factory shutdowns in Asia. However, sales improved by 9% over the fourth quarter of fiscal 2022, and operating income improved compared to the operating loss last quarter. The company is optimistic about improving conditions as casegoods production in Asia has reached full capacity.
- Consolidated net sales decreased by 9.5% compared to a year ago.
- Consolidated net income decreased to $3.2 million, or $0.26 per diluted share, compared to $9.4 million, or $0.78 per diluted share in the prior year period.
- Sales improved by 9% over the fourth quarter of fiscal 2022.
- Asian casegoods production reached full capacity in April, expected to improve results.
Headline financials
Revenue & EPS history
Hooker Furnishings · Revenue · Quarterly
$147M
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
The company expects to be in a near-optimum shipping position throughout the second quarter and will feel the full benefit of Asian production levels being at 100% capacity.
Tailwinds
- Expect to be in a near-optimum shipping position throughout the second quarter.
- Will feel the full benefit of Asian production levels being at 100% capacity.
- Optimistic about the housing market.
- Strong levels of employment.
- Two largest generation groups in prime household formation and furniture purchasing years.
Headwinds
- Seeing a leveling off of demand.
- Incoming orders are down from the meteoric levels experienced in the last 18 months.
- Watching inflationary pressures in the economy.
- Inflation affecting consumers more at the lower price points.
- Continued supply chain disruptions and high transit costs.
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 2023
-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% | — | — |
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