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Hooker Furnishings (HOFT) investor relations material

Hooker Furnishings Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary11 Sep, 2025

Executive summary

  • Q2 FY26 consolidated net sales were $82.1M, down 13.6% year-over-year, mainly due to a 44.5% decline at Home Meridian from macro pressures, tariffs, and a major customer bankruptcy.

  • Consolidated net loss for Q2 was $3.3M ($0.31 per share); six-month net loss was $6.3M ($0.60 per share).

  • Multi-phase cost reduction plan targets $25M in annualized savings by FY27, with $3.7M realized in H1 FY26 and $2M in restructuring costs in Q2.

  • Hooker Branded achieved breakeven, and Domestic Upholstery reduced operating loss by nearly 70% year-over-year, reflecting efficiency gains.

  • Order momentum: Q2 orders up 11% at Hooker Branded and 2% at Domestic Upholstery; backlog up 7% year-over-year.

Financial highlights

  • Q2 gross profit was $16.8M (20.5% margin), down from $20.9M (22.0%) year-over-year; six-month gross profit was $35.8M (21.4% margin).

  • Q2 operating loss was $4.4M, up from $3.1M last year; six-month operating loss was $8.0M.

  • Cash flow from operations was $18.1M in H1 FY26; cash and equivalents at $821K, with $5.6M in outstanding loans and $57.7M in credit availability.

  • Inventory reduced from $70.8M at year-end to $58.5M at quarter-end.

  • Dividend maintained at $0.23 per share in Q2.

Outlook and guidance

  • Cost reduction initiatives are expected to yield $25M in annualized savings by FY27, with $15M in FY26; further $2M in restructuring charges anticipated in H2 FY26.

  • HMI's fixed cost structure expected to be aligned for sustainable business by end of Q3 2026, with most cost reductions in place.

  • Management expects improved performance at Home Meridian by year-end, barring new tariffs or disruptive events.

  • Focus remains on cost control, new product launches (Margaritaville), and leveraging the Vietnam warehouse for growth and efficiency.

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Frequently asked questions

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. The company offers dining, bedroom, home entertainment, home office, occasional tables and chairs, accent furniture, rugs and lighting products. Hooker Furnishings Corporation's products are distributed through retail home furnishings stores and interior designers as well as through hospitality sources.

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