Hooker Furnishings (NASDAQ:HOFT – Get Free Report) released its earnings results on Thursday. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17, FiscalAI reports. The firm had revenue of $69.45 million during the quarter, compared to the consensus estimate of $66.31 million. Hooker Furnishings had a negative return on equity of 0.71% and a negative net margin of 8.84%.
Here are the key takeaways from Hooker Furnishings’ conference call:
- Hooker Furnishings reported net income of $1.1 million and operating income of $1.6 million, a meaningful improvement from the prior year, as gross margin expanded 440 basis points and cost cuts flowed through the P&L.
- Quarterly sales were down 2.4% year over year, with weakness in Hooker Branded and Domestic Upholstery partly offset by strength in the hospitality business. Management said the demand backdrop remains pressured by soft housing activity and low consumer confidence.
- Hooker Branded delivered strong profitability despite lower sales, with gross margin improving 960 basis points and backlog rising nearly 30%. Management said retailer commitments for Margaritaville continue to exceed expectations, with meaningful shipments expected in the second half of fiscal 2027.
- Domestic Upholstery continued to feel the impact of weak demand, posting a segment operating loss of $689,000. Management said the business benefited from efficiency actions, but near-term results remain tied to the broader residential furnishings slowdown.
- The company ended the quarter with no debt, $10.6 million in cash, and reduced inventory, while still having $54.2 million of borrowing capacity. Hooker also repurchased shares during the quarter and reiterated its new capital-return framework of a smaller dividend plus buybacks.
Hooker Furnishings Price Performance
Shares of NASDAQ:HOFT opened at $15.55 on Friday. Hooker Furnishings has a one year low of $8.61 and a one year high of $16.41. The stock has a fifty day moving average of $13.04 and a 200-day moving average of $12.67. The company has a market capitalization of $167.63 million, a PE ratio of -6.12, a price-to-earnings-growth ratio of 1.31 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.60 and a current ratio of 3.37.
Hooker Furnishings Announces Dividend
Institutional Trading of Hooker Furnishings
Several large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Hooker Furnishings by 35.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 366,761 shares of the company’s stock valued at $4,141,000 after purchasing an additional 95,127 shares during the period. Cerity Partners LLC acquired a new stake in Hooker Furnishings during the 4th quarter valued at $117,000. LPL Financial LLC raised its stake in Hooker Furnishings by 16.6% during the 4th quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock valued at $132,000 after purchasing an additional 1,660 shares during the period. Geode Capital Management LLC raised its stake in Hooker Furnishings by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 120,645 shares of the company’s stock valued at $1,363,000 after purchasing an additional 1,100 shares during the period. Finally, Bank of America Corp DE raised its stake in Hooker Furnishings by 61.2% during the 3rd quarter. Bank of America Corp DE now owns 15,126 shares of the company’s stock valued at $154,000 after purchasing an additional 5,740 shares during the period. 73.60% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
HOFT has been the subject of a number of research analyst reports. Zacks Research upgraded Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Wall Street Zen upgraded Hooker Furnishings from a “sell” rating to a “hold” rating in a research report on Sunday, April 19th. Finally, Weiss Ratings downgraded Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.
View Our Latest Report on HOFT
About Hooker Furnishings
Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.
The company’s operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.
Read More
- Five stocks we like better than Hooker Furnishings
- Build On a Strong Earnings Season With These 3 ETFs
- Microsoft Just Gave Investors 3 Dates They Can’t Afford to Ignore
- NVIDIA’s Outlook Gains Momentum: Stock Price to Follow
- The World Cup Is Coming—These 3 Stocks Could Cash In
Receive News & Ratings for Hooker Furnishings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hooker Furnishings and related companies with MarketBeat.com's FREE daily email newsletter.
