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 Inc. (NYSE: ETD) announced the acquisition of assets from Dimension Wood Products, enhancing its vertical integration. This strategic purchase aims to bolster control over raw materials and labor costs while ensuring high-quality standards. Dimension Wood Products, a supplier since 1981, specializes in wood frames and machined parts for upholstery. CEO Farooq Kathwari underscored that this move will strengthen operational capabilities. Ethan Allen operates nine manufacturing facilities across North America, producing approximately 75% of its products domestically.
Ethan Allen has launched its seventh Design Center in Connecticut, located in Westport. The center emphasizes the company's unique American style and includes complimentary interior design services enhanced by 3D digital design tools. Clients can collaborate with professional designers in a high-tech environment, viewing realistic 3D floor plans. According to CEO Farooq Kathwari, the Design Center enables flexibility for clients, supporting virtual appointments, while showcasing Ethan Allen's extensive range of products, 75% of which are made in North America.
Ethan Allen Interiors reported a strong performance for Q2 FY2022, with net sales increasing by 16.4% to $208.1 million. The gross margin rose to 58.8%, and adjusted EPS reached $0.95, marking a 37.7% increase. The company generated $5.7 million in operating cash flow, and ended the quarter with $105.2 million in cash and no debt. Challenges such as supply chain issues and inflation were acknowledged, but Ethan Allen maintained a positive outlook, citing strong demand and strategic pricing. A 16% increase in dividends was also announced.
Ethan Allen Interiors Inc. (NYSE: ETD) announced the election of María Eugenia (Gina) Casar to its Board of Directors on January 25, 2022. Casar brings extensive expertise in finance and ESG, having served in senior roles at the United Nations and various organizations. The Board also declared a quarterly cash dividend of $0.29 per share, payable on February 23, 2022, to shareholders of record by February 8, 2022. CEO Farooq Kathwari expressed confidence in their growth potential, thanks to their skilled team and strong distribution network.
Ethan Allen Interiors Inc. (NYSE: ETD) will release its financial results for fiscal 2022 Q2 on January 27, 2022, after market close. A conference call to discuss these results will take place at 5:00 PM ET the same day, accessible via the company’s Investor Relations website. Ethan Allen is a premier home furnishings brand, known for its vertically integrated model from design to delivery, with 75% of products made in North America. The company operates nine manufacturing facilities in the U.S., Mexico, and Honduras.
Ethan Allen Interiors Inc. (NYSE: ETD) has announced key leadership promotions to enhance its operations. Corey Whitely has been elevated to Executive Vice President of Operations, overseeing manufacturing, logistics, and technology. Amy Franks has been promoted to Executive Vice President of Retail Network & Business Development, while Matthew McNulty is now Senior Vice President, Treasurer, and Chief Financial Officer. The company's Chairman, Farooq Kathwari, emphasized their 90 years of consistent profitability, attributing success to a unified brand and a talented team across various sectors.
Ethan Allen Interiors Inc. (NYSE: ETD) declared a quarterly cash dividend of $0.29 per share, a 16% increase from previous payouts. The dividend will be paid on January 5, 2022 to shareholders recorded as of December 14, 2021. Chairman Farooq Kathwari emphasized the company's robust balance sheet and operational success as key factors for this decision. The company anticipates continued growth in sales and profitability due to its talented team, strong retail network, and vertical integration, with 75% of products made in North America.
Ethan Allen has reported strong financial results for the first quarter of fiscal 2022 ending September 30, 2021. Sales jumped by 20.7% to $182.3 million, with retail net sales increasing 31.3%. The company achieved a gross margin of 59.9% and an operating margin of 15.0%. Diluted EPS rose to $0.79, a 113.5% increase from last year. Additionally, Ethan Allen paid a special cash dividend of $0.75 per share and a regular dividend of $0.25 per share, ending the quarter with $93.7 million in cash and no debt.
Ethan Allen Interiors Inc. (NYSE: ETD) will announce its fiscal 2022 first-quarter results on October 27, 2021, after market close. A conference call for analysts will follow at 5:00 PM ET, which will be accessible via the Company’s Investor Relations website. Ethan Allen is a premier interior design firm and retailer with around 300 design centers globally and a significant online presence. It operates nine manufacturing facilities in North America, producing about 75% of its products domestically.
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