Haverty Furniture Companies (HVT) Q4 2025 earnings summary

Executive summary

• Q4 2025 net sales rose 9.5% year-over-year to $201.9 million, with comparable sales up 8.2%.

• Diluted EPS for Q4 increased to $0.51 from $0.49, and full-year EPS remained steady at $1.19.

• Full-year 2025 net sales increased 5% to $759 million, with comps up 2.1%.

• Strategic initiatives and marketing investments drove traffic and higher average tickets, supporting growth despite industry headwinds.

• Five new store openings are planned for 2026, including entry into Pennsylvania and Pittsburgh.

Financial highlights

• Q4 gross margin was 60.4%, down from 61.9% last year; adjusted gross margin (excluding LIFO) was 62.4%.

• Q4 pre-tax income was $10.8 million (5.3% margin), up from $9.6 million (5.2% margin) last year.

• Q4 net income was $8.5 million, or $0.51 per diluted share, up from $8.2 million or $0.49 per share.

• Full-year pre-tax profit was $26.8 million, flat with last year.

• EBITDA for 2025 was $45.5 million, up from $41.7 million in 2024.

Outlook and guidance

• 2026 gross margin expected between 60.5% and 61%, factoring in new tariffs and LIFO estimates.

• Fixed and discretionary SG&A for 2026 projected at $307–309 million, mainly due to store growth and inflation.

• Variable SG&A costs expected to remain flat as a percentage of sales (18.6–18.8%).

• CapEx planned at $33.5 million for 2026, with $27.2 million for new stores and remodels.

• Effective tax rate for 2026 anticipated at 26%.