Q4 2024 Ethan Allen Interiors Inc Earnings Call Transcript
Key Points
- Ethan Allen Interiors Inc (ETD) reported strong gross margins of 60.8% for the fiscal year 2024.
- The company ended the fiscal year with a robust cash position of $195.8 million and no outstanding debt.
- Adjusted operating margin for the fourth quarter improved to 13.1%, reflecting strong expense management.
- The company declared a special cash dividend of $0.40 per share in addition to the regular quarterly cash dividend.
- Ethan Allen Interiors Inc (ETD) was named America's Premium Retailer by Newsweek for the second time.
- Fiscal 2024 consolidated net sales totaled $646.2 million, reflecting a reduction in net sales compared to the prior year.
- Retail segment orders for the quarter were down 1.3%, indicating a decline in demand.
- Adjusted operating margin for the fiscal year was 12.1%, down from 16.9% last year.
- SG&A expenses increased as a percentage of net sales, rising to 47.7% from 45.1% last year due to lower sales volume relative to fixed costs.
- International sales were significantly impacted during the COVID period, with some regions experiencing a decline of up to 30%.
Good afternoon, and welcome to the Ethan Allen fiscal 2024 fourth quarter analyst conference call. (Operator Instructions) Please note this conference is being recorded. It is now my pleasure to introduce your host, Matt McNulty, Senior Vice President, Chief Financial Officer, and Treasurer. Thank you. You may begin.
Thank you, operator. Good afternoon and thank you for joining us today to discuss Ethan Allenâs fiscal 2024 fourth-quarter and full-year results.
With me today is Farooq Kathwari, our Chairman, President and CEO. Mr. Kathwari will open and close our prepared remarks, while Iâll speak to our financial performance midway through. After our prepared remarks, we will then open the call for your questions.
Before we begin, Iâd like to remind the audience that this call is being recorded and webcast live under the News and Events tab on the Investor Relations page of our website. A replay of todayâs call will also be made available on
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
