Ethan Allen (ETH) Tops Q2 EPS by 31c
Get Alerts ETH Hot Sheet
Join SI Premium – FREE
Ethan Allen (NYSE: ETH) reported Q2 EPS of $0.57, $0.31 better than the analyst estimate of $0.26. Revenue for the quarter came in at $174.6 million versus the consensus estimate of $174.65 million.
Farooq Kathwari, Ethan Allen’s Chairman, President and CEO commented, “As we mentioned in our press release on January 13, 2020, the implementation of the Ethan Allen Member Program was expected to impact our sales and profitability during the initial year and, in particular, for the quarters ending December 31, 2019 and March 31, 2020. The Ethan Allen Member Program provides special members-only pricing, free shipping and white glove in-home delivery, complimentary interior design service, and in our U.S. design centers, access to special financing options.”
“We continue to strengthen our product offerings, projection and marketing. In January, we distributed 2.5 million copies of our direct mail magazine and launched a strong national radio program and digital advertising. Our plans for February and March are to continue our strong marketing in various mediums including television, digital, radio and print,” Mr. Kathwari continued.
“We are pleased that our unique vertical structure continues to provide strong operating leverage to allow us to consistently return value to our shareholders through regular quarterly dividends, periodic special cash dividends and share repurchases. During the second quarter we paid $5.6 million in cash dividends and repurchased 545,727 shares, representing 2.1% of our outstanding shares. On January 13, 2020, the Board of Directors increased the share repurchase authorization to three million shares and we plan to continue to strategically repurchase our shares. We continue to strengthen our talent, marketing, retail network, products, manufacturing, logistics and technology, while also maintaining our focus on good governance and social responsibility,” Mr. Kathwari concluded.
For earnings history and earnings-related data on Ethan Allen (ETH) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MarineMax (HZO) Misses Q2 EPS by 48c, provides guidance
- Caterpillar (CAT) tops earnings expectations but sales volume declines
- Keurig Dr Pepper Inc. (KDP) Tops Q1 EPS by 3c; confirms guidance
Create E-mail Alert Related Categories
EarningsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!