NASDAQ$HOFT
Hooker Furnishings Corporation · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Hooker Furnishings reported a decrease in net sales and net income compared to the prior year period, but experienced growth in the Hooker Branded and Domestic Upholstery segments.
Hooker Furnishings reported consolidated net sales of $152.9 million for its fiscal 2023 second quarter, a 5.9% decrease compared to the previous year. Net income was $5.5 million, or $0.46 per diluted share, down from $7.5 million, or $0.62 per diluted share in the prior year period. The company saw sales increases in two of its three segments and anticipates growth in all three segments in the second half of the year.
- Consolidated net sales decreased by 5.9% to $152.9 million compared to the prior year.
- Consolidated net income decreased to $5.5 million, or $0.46 per diluted share, from $7.5 million, or $0.62 per diluted share in the prior year.
- Hooker Branded segment net sales increased by 5.8% due to increased inventory receipts and order fulfillment.
- Domestic Upholstery segment achieved a 62% increase in net revenues, driven by organic sales growth and the addition of Sunset West's results.
Headline financials
Revenue & EPS history
Hooker Furnishings · Revenue · Quarterly
$153M
Revenue by segment
Hooker Furnishings · $91.3M total across 2 segments · Q2 2023
- Hooker Branded$52.9M+7.3%57.9%
- Domestic Upholstery$38.4M+72.0%42.1%
Forward guidance
Hooker Furnishings is closely monitoring economic disrupters but sees reasons for optimism, anticipating a strong second half of the year with increased sales in all three segments.
Tailwinds
- The U.S. enjoys strong levels of employment.
- Household incomes are rising.
- Consumer spending shows continuing strength.
- Another sizeable generation enters into their prime furniture purchasing years.
- Strategic initiatives are expected to buoy organic growth.
Headwinds
- Economic disrupters like inflation are being closely monitored.
- Rising interest rates are a concern.
- A slowing housing market is being monitored.
- Incoming orders are down.
- Reduction of incoming orders from retailers is a result of right-sizing their inventories.
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 Q2 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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