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 Interiors reported its fiscal 2023 third quarter results, ending March 31, 2023. The company achieved consolidated net sales of $186.3 million, a decrease of 5.7% year-over-year, with retail and wholesale sales declining 9.5% and 5.7%, respectively. Gross margin stood at 59.9%, down from 60.4% due to a shift in sales mix. Operating margin was 15.5%, and adjusted diluted EPS fell by 7.5% to $0.86. Despite these declines, the company reported cash flow from operations of $33.4 million, a 93.2% increase. A dividend increase of 13% to $0.36 per share was announced. With no debt, cash and investments totaled $156.2 million.
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