Ethan Allen Interiors Inc. Files 10-Q for Period Ending December 31, 2023
Ticker: ETD · Form: 10-Q · Filed: Jan 24, 2024 · CIK: 896156
| Field | Detail |
|---|---|
| Company | Ethan Allen Interiors INC (ETD) |
| Form Type | 10-Q |
| Filed Date | Jan 24, 2024 |
| Risk Level | low |
| Pages | 14 |
| Reading Time | 16 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: 10-Q, Ethan Allen, Financials, Quarterly Report, Furniture
TL;DR
<b>Ethan Allen Interiors Inc. filed its Q2 2024 10-Q report, detailing financial performance for the period ending December 31, 2023.</b>
AI Summary
ETHAN ALLEN INTERIORS INC (ETD) filed a Quarterly Report (10-Q) with the SEC on January 24, 2024. Ethan Allen Interiors Inc. reported financial results for the second quarter and first half of fiscal year 2024. The filing covers the period from October 1, 2023, to December 31, 2023, and the six months ended December 31, 2023. The company operates in the Wood Household Furniture sector. The filing includes segment information for Retail and Wholesale. The report is a 10-Q filing, indicating it's a quarterly report.
Why It Matters
For investors and stakeholders tracking ETHAN ALLEN INTERIORS INC, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data, allowing for an assessment of the company's recent performance and trends. Understanding the segment performance (Retail vs. Wholesale) is crucial for identifying growth drivers and potential challenges within Ethan Allen's business model.
Risk Assessment
Risk Level: low — ETHAN ALLEN INTERIORS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical reporting.
Analyst Insight
Monitor future filings for revenue trends in the Retail and Wholesale segments and any changes in inventory management.
Key Numbers
- 2023-12-31 — Period End Date (Conformed period of report)
- 2024-01-24 — Filing Date (Filed as of date)
- Q2 2024 — Fiscal Quarter (Indicates the quarter being reported)
- 06-30 — Fiscal Year End (Company's fiscal year end)
Key Players & Entities
- ETHAN ALLEN INTERIORS INC (company) — Filer name
- 2023-12-31 (date) — Conformed period of report
- 2024-01-24 (date) — Filed as of date
- 2037438000 (phone_number) — Business phone
- 06811 (zip_code) — Business address zip
- 0000896156 (company_id) — Central Index Key
- 2511 (sic_code) — Standard Industrial Classification
- DE (state) — State of incorporation
Forward-Looking Statements
- Ethan Allen's net sales will continue to face headwinds in the next quarter due to ongoing weak consumer demand for home furnishings. (Ethan Allen Interiors Inc.) — medium confidence, target: 2024-03-31
FAQ
When did ETHAN ALLEN INTERIORS INC file this 10-Q?
ETHAN ALLEN INTERIORS INC filed this Quarterly Report (10-Q) with the SEC on January 24, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by ETHAN ALLEN INTERIORS INC (ETD).
Where can I read the original 10-Q filing from ETHAN ALLEN INTERIORS INC?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by ETHAN ALLEN INTERIORS INC.
What are the key takeaways from ETHAN ALLEN INTERIORS INC's 10-Q?
ETHAN ALLEN INTERIORS INC filed this 10-Q on January 24, 2024. Key takeaways: Ethan Allen Interiors Inc. reported financial results for the second quarter and first half of fiscal year 2024.. The filing covers the period from October 1, 2023, to December 31, 2023, and the six months ended December 31, 2023.. The company operates in the Wood Household Furniture sector..
Is ETHAN ALLEN INTERIORS INC a risky investment based on this filing?
Based on this 10-Q, ETHAN ALLEN INTERIORS INC presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical reporting.
What should investors do after reading ETHAN ALLEN INTERIORS INC's 10-Q?
Monitor future filings for revenue trends in the Retail and Wholesale segments and any changes in inventory management. The overall sentiment from this filing is neutral.
How does ETHAN ALLEN INTERIORS INC compare to its industry peers?
Ethan Allen Interiors Inc. operates in the Wood Household Furniture, (No Upholstered) industry, classified under SIC code 2511.
Are there regulatory concerns for ETHAN ALLEN INTERIORS INC?
The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting under the Securities Exchange Act of 1934.
Industry Context
Ethan Allen Interiors Inc. operates in the Wood Household Furniture, (No Upholstered) industry, classified under SIC code 2511.
Regulatory Implications
The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting under the Securities Exchange Act of 1934.
What Investors Should Do
- Review the full 10-Q for detailed financial statements and management's discussion and analysis.
- Analyze segment revenues for Retail and Wholesale to understand business unit performance.
- Compare current quarter and year-to-date results to prior periods for trend analysis.
Year-Over-Year Comparison
This is the initial filing analyzed for the specified period; no prior filing data is available for comparison within this context.
Filing Stats: 4,060 words · 16 min read · ~14 pages · Grade level 20 · Accepted 2024-01-24 16:30:43
Key Financial Figures
- $0.01 — 2(b) of the Act:   Common Stock, $0.01 par value   ETD   New
Filing Documents
- eth20231231_10q.htm (10-Q) — 1689KB
- ex_617222.htm (EX-31.1) — 13KB
- ex_617223.htm (EX-31.2) — 13KB
- ex_617224.htm (EX-32.1) — 6KB
- ex_617225.htm (EX-32.2) — 6KB
- image01.jpg (GRAPHIC) — 5KB
- 0001437749-24-002064.txt ( ) — 7439KB
- eth-20231231.xsd (EX-101.SCH) — 62KB
- eth-20231231_def.xml (EX-101.DEF) — 416KB
- eth-20231231_lab.xml (EX-101.LAB) — 344KB
- eth-20231231_pre.xml (EX-101.PRE) — 454KB
- eth-20231231_cal.xml (EX-101.CAL) — 55KB
- eth20231231_10q_htm.xml (XML) — 1271KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION      
Financial Statements
Item 1. Financial Statements 2     CONSOLIDATED BALANCE SHEETS  2     CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) 3     CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) 4     CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Unaudited) 5     NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 6    
Management’s Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 19    
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 33    
Controls and Procedures
Item 4. Controls and Procedures 34    
- OTHER INFORMATION
PART II - OTHER INFORMATION      
Legal Proceedings
Item 1. Legal Proceedings 35    
Risk Factors
Item 1A. Risk Factors 35    
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35    
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 35    
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 35    
Other Information
Item 5. Other Information 35    
Exhibits
Item 6. Exhibits 36    
SIGNATURES
SIGNATURES 36       1     
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION  
Financial Statements
Item 1. Financial Statements   ETHAN ALLEN INTERIORS INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands, except par value)         December 31, 2023     June 30, 2023       (Unaudited)           ASSETS               Current assets                 Cash and cash equivalents   $ 55,051     $ 62,130   Investments     97,679       110,577   Accounts receivable, net     6,831       11,577   Inventories, net     140,939       149,195   Prepaid expenses and other current assets     25,459       25,974   Total current assets     325,959       359,453   Property, plant and equipment, net     219,492       222,167   Goodwill     25,388       25,388   Intangible assets     19,740       19,740   Operating lease right-of-use assets     113,699       115,861   Deferred income taxes     832       640   Other assets     17,065       2,204   TOTAL ASSETS   $ 722,175     $ 745,453                     LIABILITIES                 Current liabilities                 Accounts payable and accrued expenses   $ 24,069     $ 28,565   Customer deposits     63,098       77,765 &#