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Ethan Allen Reports First Quarter Results

ETD
  • Ethan Allen Interiors Inc. reported first-quarter 2027 net sales of $129.6 million, a decrease from $147.0 million in the prior year period.
  • Consolidated gross margin stood at 59.6%, while operating and adjusted operating margins were 1.3% and 2.2%, respectively.
  • Diluted earnings per share were $0.07, with adjusted diluted earnings per share at $0.10.
  • Retail written orders declined 1.2% year-over-year due to lower design center traffic, a soft housing market, global unrest, election uncertainty, and tariffs.
  • Wholesale written orders decreased 1.3% year-over-year for similar macroeconomic reasons.
  • Retail written orders rose 13.2% sequentially from the prior quarter, with momentum continuing into October.
  • The company ended the quarter with $92.2 million in cash, no outstanding debt, and $121.5 million in credit availability.
  • Total cash dividends of $92.2 million were paid, consisting of special dividends totaling $3.25 per share plus a regular quarterly dividend of $0.39 per share.
  • Capital expenditures totaled $3.4 million, funding new retail design centers, manufacturing equipment, and technology upgrades.
  • New tariffs under Section 301 of the Trade Act of 1974, ranging from 10% to 12.5%, became effective on July 24, 2026, impacting margins.
  • The company opened new design centers in Aventura, FL, and Victoria Gardens, CA, bringing the total North American locations to 172.
  • Additional design centers are planned for fiscal 2027 in Burlington, VT, Huntersville, NC, and Naples, FL.
  • SG&A expenses decreased 5.8% year-over-year due to reduced headcount, lower variable expenses, cost controls, and reduced marketing costs.
  • Net merchandise inventory increased 3.6% to $153.8 million, reflecting new product introductions and price increases.
  • Customer deposits from undelivered orders rose to $74.3 million, up from $62.7 million at the end of the previous quarter.
  • The company's Silao, Mexico upholstery operation received the Great Place to Work certification for the ninth consecutive year.
  • Five directors were elected to the Board of Directors at the November 4, 2026, annual stockholder meeting.
  • The company anticipates higher marketing expenses for the remainder of fiscal 2027.
Company
Ethan Allen
Keywords
NYSE:ETD, Ethan Allen, Earnings, NYSE: ETD, ETD, home furnishings, interior design, MANUFACTURING, furniture, craftsmanship, decor