Loading...
Loading...
- Hooker Furniture Corp HOFT reported second-quarter FY22 sales growth of 25% year-on-year, to $162.5 million, beating the analyst consensus of $159.1 million.
- Net sales from Hooker Branded segment increased by 29% Y/Y, Home Meridian rose 23%, and Domestic Upholstery gained 28.7%.
- The gross profit rose 17.5% Y/Y to $31.7 million, and the margin contracted 120 basis points to 19.5%.
- The operating margin was 6%, and operating income for the quarter rose 29% to $9.7 million.
- The company held $37.4 million in cash and equivalents as of August 1, 2021. Inventories at Q2 end stood at $103.6 million.
- EPS of $0.62 missed the analyst consensus of $0.65.
- "While industry-wide demand continues to be high, we're facing significant headwinds on the supply side that will impact us in the short term," said CEO Jeremy Hoff.
- The company's quarterly cash dividend of $0.18 per share is payable on September 30, 2021, to shareholders of record on September 16, 2021.
- Price Action: HOFT shares are trading lower by 3.82% at $29.70 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in