NYSE$HVT
Haverty Furniture Companies Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Reported a strong quarter with increased sales and earnings per share.
Havertys reported a 1.0% increase in consolidated sales, reaching $238.9 million. The company's diluted earnings per share increased to $1.11, driven by a gross profit margin of 59.0% due to merchandise mix and pricing strategies.
- Consolidated sales increased by 1.0% to $238.9 million.
- Comparable store sales increased by 0.2%.
- Gross profit margin improved to 59.0% from 57.1% due to merchandise mix and pricing.
- Diluted earnings per share increased to $1.11 from $1.04.
Headline financials
Revenue & EPS history
Haverty Furniture · Revenue · Quarterly
$239M
Forward guidance
Havertys expects gross profit margins for 2022 to be between 57.7% to 58.0%. Fixed and discretionary expenses within SG&A for the full year of 2022 are expected to be in the $295.0 to $298.0 million range. Variable SG&A expenses for the full year of 2022 are anticipated to be in the 18.0% to 18.2% range. The effective tax rate for 2022 is expected to be 25%. Planned capital expenditures are approximately $37.0 million in 2022.
Tailwinds
- Gross profit margins are expected to be between 57.7% and 58.0% for the year.
- The company plans to increase retail square footage by 1%.
- The company plans to open four stores.
- The company has $12.5 million remaining for purchases of common stock.
- Effective tax rate for 2022 is expected to be 25%.
Headwinds
- Fixed and discretionary expenses within SG&A are expected to be in the $295.0 to $298.0 million range for the year.
- Variable SG&A expenses are anticipated to be in the 18.0% to 18.2% range for the year.
- The company plans to close two stores.
- Capital expenditures are planned for the conversion of the home delivery center in Virginia.
- Capital expenditures are planned for additional spend on information technology.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
+0.3%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+2.3%
Avg return
30 days after
56%
36 / 64 earnings
Positive
+15.5%
Q2 2020
Best reaction
-18.9%
Q1 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +7.3% | +4.9% | +11.4% | |
| Q4 2025 | +2.1% | -5.9% | -15.6% | |
| Q3 2025 | +7.8% | +11.1% | +17.7% | |
| Q1 2025 | +8.7% | +3.8% | +15.4% | |
| Q4 2024 | +9.1% | +8.3% | -1.6% | |
| Q3 2024 | -8.8% | -9.9% | -2.8% | |
| Q2 2024 | +3.4% | -2.4% | -4.2% | |
| Q1 2024 | -7.4% | -4.3% | -7.8% | |
| Q4 2023 | -6.8% | -3.3% | -9.1% | |
| Q3 2023 | +6.6% | +14.2% | +23.6% | |
| Q2 2023 | -7.9% | -5.6% | -12.1% | |
| Q1 2023 | -13.8% | -12.8% | -12.8% | |
| Q4 2022 | +1.7% | +3.8% | -15.5% | |
| Q3 2022 | +4.1% | +16.5% | +18.5% | |
| Q2 2022 | +4.7% | +5.2% | -3.7% | |
| Q1 2022 | +8.7% | +9.5% | +11.0% | |
| Q4 2021 | -2.6% | -4.2% | +5.8% | |
| Q3 2021 | -9.6% | -4.4% | -1.7% | |
| Q2 2021 | -5.2% | -6.3% | -6.0% | |
| Q1 2021 | +13.2% | +13.1% | +13.1% | |
| Q4 2020 | +1.0% | +5.7% | +14.4% | |
| Q3 2020 | +7.7% | +10.7% | +20.1% | |
| Q2 2020 | +15.5% | +23.1% | +38.7% | |
| Q1 2020 | +4.5% | +8.8% | +7.5% | |
| Q4 2019 | -15.0% | -14.2% | -38.9% | |
| Q3 2019 | -14.5% | -12.2% | -5.2% | |
| Q2 2019 | -1.9% | -3.2% | +5.5% | |
| Q1 2019 | -18.9% | -19.3% | -25.8% | |
| Q4 2018 | +5.9% | +6.7% | +4.5% | |
| Q3 2018 | -0.2% | +4.2% | +6.8% | |
| Q2 2018 | +3.8% | +5.8% | +10.3% | |
| Q1 2018 | +9.1% | +7.2% | +10.2% | |
| Q4 2017 | -5.1% | +0.0% | -11.2% | |
| Q3 2017 | +4.8% | +2.1% | +0.6% | |
| Q2 2017 | +6.8% | +3.9% | +0.7% | |
| Q1 2017 | +3.9% | +3.0% | -2.8% | |
| Q4 2016 | +8.6% | +2.9% | +4.0% | |
| Q3 2016 | +3.6% | +8.3% | +19.3% | |
| Q2 2016 | +8.9% | +10.9% | +8.5% | |
| Q1 2016 | -3.6% | — | — | |
| Q4 2015 | -2.4% | — | — | |
| Q3 2015 | +3.0% | — | — | |
| Q2 2015 | -0.1% | — | — | |
| Q1 2015 | -1.5% | — | — | |
| Q4 2014 | -6.3% | — | — | |
| Q3 2014 | -4.4% | — | — | |
| Q2 2014 | +0.1% | — | — | |
| Q1 2014 | -3.3% | — | — | |
| Q4 2013 | +1.7% | — | — | |
| Q3 2013 | -3.2% | — | — | |
| Q2 2013 | +1.4% | — | — | |
| Q1 2013 | +1.6% | — | — | |
| Q4 2012 | +0.9% | — | — | |
| Q3 2012 | -1.7% | — | — | |
| Q2 2012 | -0.6% | — | — | |
| Q1 2011 | +0.2% | — | — | |
| Q1 2012 | +1.5% | — | — | |
| Q4 2011 | +1.7% | — | — | |
| Q3 2010 | +3.1% | — | — | |
| Q3 2011 | +3.1% | — | — | |
| Q2 2011 | -6.3% | — | — | |
| Q4 2010 | -3.7% | — | — | |
| Q2 2010 | -1.0% | — | — | |
| Q1 2010 | -2.6% | — | — |
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