Financial Performance - Diluted earnings per share ("EPS") for Q3 2025 was $0.28, a slight decrease from $0.29 in Q3 2024[4] - Consolidated sales increased by 10.6% to $194.5 million compared to $175.9 million in the same quarter last year[4] - Comparable store sales rose by 7.1% for the quarter, indicating positive momentum in customer traffic and sales performance[4] - Gross profit margin improved to 60.3% in Q3 2025 from 60.2% in Q3 2024[4] - Net income for the nine months ended September 30, 2025, was $11,196,000, a decrease of 4.8% compared to $11,759,000 in 2024[14] - EBITDA for the nine months ended September 30, 2025, increased to $29,981,000, up 8.4% from $27,666,000 in 2024[16] - Net cash provided by operating activities was $45,285,000, an increase of 7.8% compared to $41,989,000 in the same period of 2024[14] Business Operations - Total written business increased by 10.0%, while comparable store written business grew by 8.0% for the quarter[8] - SG&A expenses were 57.8% of sales, up from 57.4%, with a total increase of $11.4 million primarily due to higher advertising and administrative costs[8] - The company plans to open five net new stores in 2026, resuming store count growth[3] - Comparable-store sales growth is a key performance indicator for the company, reflecting the performance of existing stores and online sales[17] Cash and Investments - Cash, cash equivalents, and restricted cash equivalents at September 30, 2025, totaled $137.0 million[8] - Cash, cash equivalents, and restricted cash equivalents at the end of the period increased to $136,977,000 from $127,365,000 in 2024, reflecting a growth of 7.3%[14] - Capital expenditures for the nine months ended September 30, 2025, were $15,277,000, a decrease of 37.1% from $24,285,000 in 2024[14] - The company paid dividends totaling $15,534,000 during the nine months ended September 30, 2025, compared to $15,295,000 in 2024, marking a slight increase[14] - The company repurchased $2,000,000 in common stock during the nine months ended September 30, 2025[14] Future Outlook - Expected gross profit margins for 2025 are projected to be between 60.4% to 60.7%, an increase from prior guidance[8] - The effective tax rate for 2025 is anticipated to be 26.5%, excluding the impact from discrete items and new tax legislation[8] - The company anticipates continued focus on retail and operating margins, with plans for capital expenditures in 2025[23] - Forward-looking statements indicate potential risks including competition, changes in consumer preferences, and supply chain vulnerabilities[24]
Haverty Furniture(HVT_A) - 2025 Q3 - Quarterly Results