Havertys Reports Operating Results for Fourth Quarter 2025

About this update from Haverty Furniture Companies, Inc.

ATLANTA, GA / ACCESS Newswire / February 24, 2026 / HAVERTYS (NYSE:HVT) and (NYSE:HVT.A), today reported its operating results for the fourth quarter ended December 31, 2025. Fourth quarter 2025 versus fourth quarter 2024: FY 2025 versus FY 2024: Stock Repurchase Program: Steven G. Burdette, President and CEO, said, "Our fourth quarter results were highlighted by our second consecutive quarter of growth in both written and delivered sales and comp-store sales. This sustained momentum reflects the effectiveness of our customer-first approach and strategic marketing investments, which continue to drive traffic and increase average tickets while maintaining strong gross margins, even as we navigate persistent industry headwinds. We are pleased to announce that we plan to enter our 18th state, in Pittsburgh, Pennsylvania, later this year, bringing our total planned store openings for 2026 to five locations. In 2025, we returned $25.6 million to our shareholders through $4.8 million in share repurchases and $20.8 million in quarterly dividends. Our disciplined capital management approach reflects our commitment to delivering long-term value while maintaining the financial strength needed to grow in a challenging environment. Our 2025 results demonstrate that our strategic initiatives and clear value proposition continue to resonate. We are encouraged by the positive momentum in our business and remain focused on delivering sustainable growth and long-term value for our customers and shareholders." Fourth Quarter ended December 31, 2025 Compared to Same Period of 2024 Balance Sheet and Cash Flow Expectations and Other Stock Repurchase Program The Company also reported today that, on February 20, 2026, its Board of Directors approved a new authorization under its stock repurchase program that permits the Company to purchase an additional $15.0 million of its common stock and Class A common stock. As of February 24, 2026, there is approximately $18.3 million remaining under the existing authorization. Shares may be repurchased, at the Company's discretion, from time-to-time in the open market. Key Results (amounts in millions, except per share amounts) HAVERTY FURNITURE COMPANIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) HAVERTY FURNITURE COMPANIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) HAVERTY FURNITURE COMPANIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) GAAP to Non-GAAP Reconciliation We report our financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). We supplement the reporting of our financial information under GAAP with certain non-GAAP financial information. The non-GAAP information presented provides additional useful information but should not be considered in isolation or as substitutes for the related GAAP measures. We believe that EBITDA is a meaningful measure to share with investors because it allows comparison of operational performance for the comparable period. Additionally, we believe that gross profit margin, excluding the impact of LIFO, is a meaningful measure to share because it removes the volatility created by LIFO adjustments resulting from the tariff-related U.S. policy changes in 2025. Reconciliation of GAAP measures to EBITDA Gross profit margin, excluding the impact of LIFO Comparable Store Sales Comparable-store or "comp-store" sales is a measure which indicates the performance of our existing stores and website by comparing the sales growth for stores and online for a particular month over the corresponding month in the prior year. Stores are considered non-comparable if they were not open during the corresponding month or if the selling square footage has been changed significantly. Cost of Goods Sold and SG&A Expense We include substantially all our occupancy and home delivery costs in SG&A expense as well as a portion of our warehousing expenses. Accordingly, our gross profit may not be comparable to those entities that include these costs in cost of goods sold. We classify our SG&A expenses as either variable or fixed and discretionary. Our variable expenses are comprised of selling and delivery costs. Selling expenses are primarily compensation and related benefits for our commission-based sales associates, the discount we pay for third party financing of customer sales and transaction fees for credit card usage. We do not outsource delivery, so these costs include personnel, fuel, and other expenses related to this function. Fixed and discretionary expenses are comprised of rent, depreciation and amortization and other occupancy costs for stores, warehouses and offices, and all advertising and administrative costs. Conference Call Information The company invites interested parties to listen to the live webcast of the conference call on February 24, 2026 at 10:00 a.m. ET at its website, ir.havertys.com. If you cannot listen live, a replay will be available on the day of the conference call at the website at approximately 12:00 p.m. ET. About Havertys Havertys (NYSE:HVT) and (NYSE:HVT.A), established in 1885, is a full-service home furnishings retailer with 129 showrooms in 17 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle to upper-middle price ranges. Additional information is available on the Company's website havertys.com. Safe Harbor This press release contains, and the conference call may contain forward-looking statements subject to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are subject to risks and uncertainties and change based on various important factors, many of which are beyond our control. All statements in the future tense and all statements accompanied by words such as "expect," "likely," "outlook," "forecast," "preliminary," "would," "could," "should," "position," "will," "project," "intend," "plan," "on track," "anticipate," "to come," "may," "possible," "assume," and variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, our expectations for retail and operating margins, selling square footage and capital expenditures for 2026, our liquidity position to continue to fund our growth plans, and our efforts and initiatives to execute our strategic plan. We caution that our forward-looking statements involve risks and uncertainties, and while we believe that our expectations for the future are reasonable in view of currently available information you are cautioned not to place undue reliance on our forward-looking statements, and they should not be relied upon as a prediction of actual results. Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements include but are not limited to: competition from national, regional and local retailers of home furnishings; our ability to anticipate changes in consumer preferences; our ability to successfully implement our growth and other strategies; our ability to maintain and enhance our brand; importing merchandise from foreign sources; fluctuations and volatility in the cost of raw materials and components; our dependence on third-party producers to meet our requirements; our vendors' ability to meet our quality control standards or comply with changes to the legislative or regulatory framework regarding product safety; risks in our supply chain, including price, availability and quality of raw materials and components utilized in the products we sell and our ability to forecast our supply chain needs; our reliance on third-party transportation vendors for product shipments from our suppliers; the effects of labor disruptions or labor shortages; and our ability to attract and retain key employees; the rise of oil and gasoline prices; increased transportation costs; damage to one of our distribution centers; the vulnerability of our information technology infrastructure to cyber-attacks, breaches and other disruptions; changes in general domestic and international economic conditions such as inflation rates, interest rates, tax rates, unemployment rates, higher labor and healthcare costs, recessions, and changing government policies, laws and regulations; pending or unforeseen litigation; as well as other risks and uncertainties discussed in the Company's Annual Report on Form 10-K and from time to time in the Company's subsequent filings with the SEC. Forward-looking statements describe our expectations only as of the date they are made, and the Company undertakes no duty to update its forward-looking statements except as required by law. You are advised, however, to review any further disclosures we make on related subjects in our subsequent Forms 10-K, 10-Q, 8-K, and other reports filed with the SEC. Contact: Havertys 404-443-2900 Tiffany Hinkle AVP, Financial Reporting SOURCE: Haverty Furniture Companies, Inc. View the original press release on ACCESS Newswire

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