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Ahead of the investors meeting, Ethan Allen Interiors Inc. (NYSE: ETH) provided downbeat earnings expectations for the first quarter. As a result, shares of the company will likely come under pressure when the market opens.
The company expects adjusted EPS of $0.42-$0.43 for the first quarter. This is not only lower than last year's $0.46, but also came in below the Street estimates of $0.51 a share.
Ethan Allen sees net sales growing at a pace of 1.5 percent driven by comparable sales growth of 5.7 percent in the same period. Street analysts' are looking for revenue growth of 3.5 percent.
Referring to the investors meeting, the company's chairman and CEO Farooq Kathwari said, "We look forward to discussing our progress and initiatives at the forthcoming Investor Meeting. Topics will include the repositioning of our offerings, our expanded marketing, investments in new Design Centers around the country, investments in technology, and the launch of the Ethan Allen | Disney magical home program in November 2016."
The company will announce its first quarter results on October 25.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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