Welcome to our dedicated page for Ethan Allen Interiors news (Ticker: ETD), a resource for investors and traders seeking the latest updates and insights on Ethan Allen Interiors stock.
Ethan Allen Interiors Inc. (ETD) is a prominent U.S.-based company specializing in the manufacturing and retailing of high-quality home furnishings and accessories. Established in 1932 and operating under the Ethan Allen brand name since 1937, the company has built a reputation for providing a comprehensive range of home decorating and design solutions. Through its wholly-owned subsidiary, Ethan Allen Global, Inc., and its extensive retail network, the company caters to diverse markets across North America, Europe, Asia, and the Middle East.
The company's operations are divided into two main segments: Wholesale and Retail. The Wholesale unit encompasses various product categories including case goods, upholstered products, and home accents, with upholstered products being the primary revenue driver. The Retail segment, however, generates the majority of the company's overall revenue and includes over 300 design centers worldwide. Notably, most of Ethan Allen's products are manufactured in its U.S. facilities, ensuring stringent quality control and supporting the local economy.
In recent developments, Ethan Allen Interiors Inc. reported its financial and operational results for the fiscal 2024 first quarter ended September 30, 2023. The company continues to show resilience and adaptability in the competitive home furnishings market. It maintains a strong financial position with strategic partnerships and innovative product offerings that cater to changing consumer preferences.
For investors and stakeholders seeking the latest updates and performance metrics, Ethan Allen provides detailed financial information and reconciliations of non-GAAP financial measures. Key contacts for investor relations, such as Matt McNulty, the Senior Vice President, Chief Financial Officer, and Treasurer, are readily available for inquiries at IR@ethanallen.com.
Overall, Ethan Allen Interiors Inc. stands out as a leader in the home furnishings industry, committed to delivering exceptional quality and design while navigating the evolving market landscape with strategic acumen.
Ethan Allen recently hosted its 2024 International Convention at its headquarters, both in-person and livestreamed globally. Under the theme 'Focused on the Future', the event commemorated the company's 92-year legacy while outlining current and future initiatives across manufacturing, logistics, technology, marketing, and retail sectors.
Led by Chairman, President and CEO Farooq Kathwari, the convention emphasized five key focus areas: talent, service, marketing, technology, and social responsibility. The event, attended by approximately 4,000 participants, featured the annual Spirit Awards ceremony, recognizing interior designers for sales achievement and design excellence.
The convention served as a platform for team members worldwide to reconnect and review the company's yearly progress, highlighting Ethan Allen's position as home to one of the world's largest interior design networks and its successful blend of technology with personal service.
Ethan Allen has been recognized by the Sustainable Furnishings Council (SFC) and the National Wildlife Federation (NWF) for its sustainable wood-sourcing practices, earning the 'Most Improved' designation for 2024. The company primarily uses certified sustainable wood in its furniture manufacturing and implements efficient recycling practices at its Vermont facility, where wood chips and sawdust are converted into power for kilns and electricity generation.
The company is also Verified Sustainable by Appalachian Hardwood Manufacturers Inc. (AHMI), confirming its responsible sourcing from Appalachian forests. CEO Farooq Kathwari emphasized the company's ongoing commitment to sustainable operations and manufacturing.
Ethan Allen's upholstery operations in Silao, Mexico, has received the Great Place to Work® Mexico certification for the seventh consecutive year. The facility provides comprehensive employee benefits including transportation, complimentary meals, and on-site medical services with access to various health screenings. The operation has also been recognized as 'Empresa Socialmente Responsible' by Mexican corporate responsibility organizations. The facility maintains strong community involvement through initiatives like blood drives and holiday gift distributions.
Ethan Allen (NYSE: ETD) reported fiscal 2025 first quarter results with consolidated net sales of $154.3 million, down from $163.9 million year-over-year. The company maintained a strong gross margin of 60.8% and operating margin of 11.4%. Adjusted diluted EPS was $0.58. The company ended the quarter with $186.4 million in total cash and investments, up $23.2 million from last year, with no debt. During Q1, ETD paid $20.2 million in cash dividends, including a special dividend. The company's North Carolina distribution center was impacted by Hurricane Helene, resulting in a $0.3 million loss. Written orders declined in both retail (-6.8%) and wholesale (-4.8%) segments.
Ethan Allen Interiors Inc. (NYSE: ETD) has announced the release date for its fiscal 2025 first quarter financial and operating results. The company will disclose these results after the market closes on Wednesday, October 30, 2024. Following the earnings release, Ethan Allen will host a conference call with investors and analysts at 5:00 PM (Eastern Time) to discuss the outcomes.
The conference call will be webcast live from the company's Investor Relations website. For those who wish to participate in the call, the following details are provided:
- U.S. Participants: 877-705-2976
- International Participants: 201-689-8798
- Meeting Number: 13748634
An archived recording of the call will be available on the company's website for up to six months for those unable to listen live.
Ethan Allen's distribution center in Old Fort, North Carolina, has been impacted by flooding from Hurricane Helene, causing a pause in daily shipping operations due to road access for tractor trailers. Recovery efforts have begun, including restoring electricity and internet connectivity. The company's major upholstery operations in central North Carolina were not significantly affected and are operating normally.
CEO Farooq Kathwari expressed concern for those impacted and reaffirmed Ethan Allen's commitment to supporting the western North Carolina community. The company is rerouting shipments through its logistics network to minimize service disruptions. Ethan Allen's vertically integrated structure and strong North American manufacturing base, producing 75% of its products, provides flexibility in managing operations during this challenging time.
Ethan Allen (NYSE: ETD) reported fiscal 2024 and Q4 results, declaring special and regular dividends. Despite lower demand, consolidated gross margin remained strong at 60.8%. Q4 highlights include:
- Net sales of $168.6 million, down 10.0%
- Operating margin of 13.4%; adjusted 13.1%
- Diluted EPS of $0.72; adjusted $0.70
- Cash and investments of $195.8 million, up from $172.7 million last year
Full year 2024 results:
- Net sales of $646.2 million, down 18.3%
- Diluted EPS of $2.49 vs $4.13 last year
- Generated $80.2 million cash from operations
The company announced a $0.40 per share special dividend and a $0.39 regular quarterly dividend, both payable August 29, 2024.
Ethan Allen Interiors has been named America's Best Premium Furniture Retailer for the second consecutive year by Newsweek and Statista Inc. The recognition, announced on July 17, 2024, is based on an independent survey of over 7,000 U.S. customers across 40 retail categories.
Customers evaluated retailers on prices, selection, atmosphere, customer service, and accessibility. Ethan Allen's top ranking reflects its commitment to exceptional quality and unique blend of technology and personal service. This achievement coincides with the company's 92nd year in business.
Farooq Kathwari, Ethan Allen's Chairman, President and CEO, attributed this success to the hard work of associates across their vertically integrated enterprise and their position as an interior design destination.
Ethan Allen announced that its financial and operating results for the fiscal 2024 fourth quarter and full year will be released after market close on July 31, 2024. Following the release, a conference call will be held at 5:00 PM ET to discuss these results.
The call will be webcast live on the company's Investor Relations website and will be available for replay for up to six months. Participants in the U.S. can dial 877-705-2976, while international participants can dial 201-689-8798. The meeting number is 13746761.
Ethan Allen will celebrate its annual Ethan Allen Day on June 21, 2024, at its headquarters and across North America. The event, which began in 2016 when Vermont declared June 23 as Ethan Allen Day, honors the company's 92-year heritage and commitment to American manufacturing. Founded in 1932, Ethan Allen produces 75% of its home furnishings in North America, including all upholstery. The celebration will also include partnerships with local charities to collect nonperishable goods for communities in need. Ethan Allen is recognized as America's #1 Premium Furniture Retailer and among America's Top 10 Retailers by Newsweek.
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