Havertys Q1 Sales Rise 4.1% to $189.1M, EPS Hits $0.26
First quarter net income rose to $4.3M (EPS $0.26) from $3.8M ($0.23 EPS) as consolidated sales grew 4.1% to $189.1M and comparable store sales climbed 4.3%. Design consultants drove 35.3% of written business and Havertys ended the quarter debt-free with $114.1M cash.
1. First Quarter Financial Results
Havertys delivered first quarter net income of $4.3 million versus $3.8 million a year ago, translating to diluted EPS of $0.26 versus $0.23. Consolidated sales increased 4.1% to $189.1 million, comparable store sales rose 4.3%, and gross profit margin expanded to 61.5% from 61.2%.
2. Design Program Growth
The company’s design consultants accounted for 35.3% of written business, up from 33.2% a year earlier, with average ticket values more than double the overall average. Management highlighted Presidents' Day demand and higher average tickets as key drivers of this program’s momentum.
3. Balance Sheet Highlights
Havertys closed the quarter with $114.1 million in cash and equivalents, zero funded debt, and $80.0 million in unused credit capacity. During the quarter, the company invested $7.0 million in capital expenditures, repurchased 91,000 shares for $2.0 million, and paid $5.3 million in dividends.
4. Outlook and Guidance
Full-year 2026 guidance remains unchanged, with gross profit margins expected between 60.5% and 61.0%, fixed SG&A expenses of $307.0M–$309.0M, and variable SG&A at 18.6%–18.8% of sales. Planned capital expenditures total approximately $34.0 million, and the company continues to monitor tariff developments.