Haverty Furniture Companies (HVT) Q3 2025 earnings summary

Executive summary

• Q3 2025 net sales rose 10.6% year-over-year to $194.5 million, with comparable store sales up 7.1% despite a soft housing market.

• Gross profit margin for Q3 2025 was 60.3%, up slightly from 60.2% in Q3 2024, driven by product selection and pricing.

• SG&A expenses increased 11.3% in Q3 2025, mainly due to higher advertising, administrative, and occupancy costs.

• Net income for Q3 2025 was $4.7 million, or $0.28 per diluted share, compared to $4.9 million, or $0.29 per share, in Q3 2024.

• Store count increased to 129 with a new Houston location; several additional store openings planned through 2026.

Financial highlights

• Nine-month net sales increased 3.4% year-over-year to $557.1 million.

• EBITDA for the nine months ended September 30, 2025, was $30.0 million, up from $27.7 million in 2024.

• Cash and equivalents at quarter-end were $130.5 million, with $6.5 million in restricted cash and no funded debt.

• Net cash provided by operating activities was $45.3 million for the first nine months, up from $42.0 million in 2024.

• CapEx for Q3 was $3.6 million; $15.3 million invested in the first nine months; full-year CapEx planned at $24 million.

Outlook and guidance

• 2025 gross margin expected between 60.4% and 60.7%.

• SG&A expenses for 2025 projected at $296–$298 million, with variable SG&A at 18.6%–18.8% of sales.

• Planned CapEx for 2025 is $24 million, with $19.6 million for new/replacement stores and remodels.

• Effective tax rate for 2025 anticipated at 26.5%.

• Management is monitoring the impact of new and increased tariffs on imported goods and evaluating mitigation strategies.