Ethan Allen Q3 Sales Dip, EPS Falls Year-Over-Year

Ticker: ETD · Form: 10-Q · Filed: 2024-04-24T00:00:00.000Z

Sentiment: bearish

Topics: earnings, revenue-decline, financial-results

TL;DR

Ethan Allen's Q3 sales down to $578.1M, EPS $1.74 vs $2.39 last year. Tough market.

AI Summary

Ethan Allen Interiors Inc. reported its Q3 2024 results for the period ending March 31, 2024. The company's net sales for the nine months ended March 31, 2024, were $578.1 million, a decrease from $613.9 million in the same period of the prior year. Diluted earnings per share for the nine months were $1.74, down from $2.39 in the prior year. The company's balance sheet shows total assets of $518.9 million as of March 31, 2024.

Why It Matters

This filing indicates a slowdown in Ethan Allen's sales and profitability, which could impact investor returns and consumer spending in the home furnishings sector.

Risk Assessment

Risk Level: medium — The decline in net sales and earnings per share suggests potential market challenges or operational issues impacting the company's financial performance.

Key Numbers

$578.1M — Nine-Month Net Sales (Represents a decrease compared to the prior year's period.)
$1.74 — Nine-Month Diluted EPS (Lower than the $2.39 reported in the same period last year.)
$518.9M — Total Assets (As of the end of the third quarter, March 31, 2024.)

Key Players & Entities

Ethan Allen Interiors Inc. (company) — Filer of the 10-Q report
March 31, 2024 (date) — End of the reporting period for Q3 2024
$578.1 million (dollar_amount) — Net sales for the nine months ended March 31, 2024
$613.9 million (dollar_amount) — Net sales for the nine months ended March 31, 2023
$1.74 (dollar_amount) — Diluted earnings per share for the nine months ended March 31, 2024
$2.39 (dollar_amount) — Diluted earnings per share for the nine months ended March 31, 2023
$518.9 million (dollar_amount) — Total assets as of March 31, 2024

FAQ

What were Ethan Allen's net sales for the third quarter of fiscal year 2024?

The filing indicates net sales for the nine months ended March 31, 2024, were $578.1 million. Specific Q3 net sales figures are not explicitly detailed in the provided snippet but are part of the nine-month total.

How did Ethan Allen's diluted earnings per share (EPS) change in the first nine months of fiscal year 2024 compared to the prior year?

Diluted EPS for the nine months ended March 31, 2024, was $1.74, a decrease from $2.39 for the same period in the prior year.

What is the total asset value of Ethan Allen as of March 31, 2024?

As of March 31, 2024, Ethan Allen's total assets were reported as $518.9 million.

Which segments contributed to Ethan Allen's business during the reporting period?

The filing references 'RetailSegmentMember' and 'WholesaleSegmentMember', indicating these are the key business segments.

What is the company's fiscal year end?

Ethan Allen's fiscal year ends on June 30.

From the Filing

0001437749-24-013022.txt : 20240424 0001437749-24-013022.hdr.sgml : 20240424 20240424163058 ACCESSION NUMBER: 0001437749-24-013022 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 86 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240424 DATE AS OF CHANGE: 20240424 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ETHAN ALLEN INTERIORS INC CENTRAL INDEX KEY: 0000896156 STANDARD INDUSTRIAL CLASSIFICATION: WOOD HOUSEHOLD FURNITURE, (NO UPHOLSTERED) [2511] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 061275288 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-11692 FILM NUMBER: 24871026 BUSINESS ADDRESS: STREET 1: ETHAN ALLEN DR STREET 2: PO BOX 1966 CITY: DANBURY STATE: CT ZIP: 06811 BUSINESS PHONE: 2037438000 10-Q 1 eth20240331_10q.htm FORM 10-Q eth20240331_10q.htm --06-30 Q3 2024 false 0000896156 false false false true 2 2 0 3 3 3 10 3 0 0 0 0 0 0 1.0 5 3 0 0 0 1 2 1 1 1 4 10 4 0 0 0000896156 2023-07-01 2024-03-31 thunderdome:item 0000896156 2024-01-01 2024-03-31 xbrli:shares 0000896156 2024-03-31 iso4217:USD 0000896156 2023-06-30 0000896156 eth:InventoryProfitEliminationMember 2023-06-30 0000896156 eth:InventoryProfitEliminationMember 2024-03-31 0000896156 eth:RetailSegmentMember 2023-06-30 0000896156 eth:RetailSegmentMember 2024-03-31 0000896156 eth:WholesaleSegmentMember 2023-06-30 0000896156 eth:WholesaleSegmentMember 2024-03-31 0000896156 2022-07-01 2023-03-31 0000896156 2023-01-01 2023-03-31 0000896156 eth:RetailSegmentMember 2022-07-01 2023-03-31 0000896156 eth:RetailSegmentMember 2023-07-01 2024-03-31 0000896156 eth:RetailSegmentMember 2023-01-01 2023-03-31 0000896156 eth:RetailSegmentMember 2024-01-01 2024-03-31 0000896156 eth:WholesaleSegmentMember 2022-07-01 2023-03-31 0000896156 eth:WholesaleSegmentMember 2023-07-01 2024-03-31 0000896156 eth:WholesaleSegmentMember 2023-01-01 2023-03-31 0000896156 eth:WholesaleSegmentMember 2024-01-01 2024-03-31 0000896156 us-gaap:IntersegmentEliminationMember 2022-07-01 2023-03-31 0000896156 us-gaap:IntersegmentEliminationMember 2023-07-01 2024-03-31 0000896156 us-gaap:IntersegmentEliminationMember 2023-01-01 2023-03-31 0000896156 us-gaap:IntersegmentEliminationMember 2024-01-01 2024-03-31 0000896156 us-gaap:OperatingSegmentsMember eth:RetailSegmentMember 2022-07-01 2023-03-31 0000896156 us-gaap:OperatingSegmentsMember eth:RetailSegmentMember 2023-07-01 2024-03-31 0000896156 us-gaap:OperatingSegmentsMember eth:RetailSegmentMember 2023-01-01 2023-03-31 0000896156 us-gaap:OperatingSegmentsMember eth:RetailSegmentMember 2024-01-01 2024-03-31 0000896156 us-gaap:OperatingSegmentsMember eth:WholesaleSegmentMember 2022-07-01 2023-03-31 0000896156 us-gaap:OperatingSegmentsMember eth:WholesaleSegmentMember 2023-07-01 2024-03-31 0000896156 us-gaap:OperatingSegmentsMember eth:WholesaleSegmentMember 2023-01-01 2023-03-31 0000896156 us-gaap:OperatingSegmentsMember eth:WholesaleSegmentMember 2024-01-01 2024-03-31 0000896156 us-gaap:OperatingSegmentsMember eth:ExternalCustomersMember eth:WholesaleSegmentMember 2022-07-01 2023-03-31 0000896156 us-gaap:OperatingSegmentsMember eth:ExternalCustomersMember eth:WholesaleSegmentMember 2023-07-01 2024-03-31 0000896156 us-gaap:OperatingSegmentsMember eth:ExternalCustomersMember eth:WholesaleSegmentMember 2023-01-01 2023-03-31 0000896156 us-gaap:OperatingSegmentsMember eth:ExternalCustomersMember eth:WholesaleSegmentMember 2024-01-01 2024-03-31 0000896156 us-gaap:IntersegmentEliminationMember eth:WholesaleSegmentMember 2022-07-01 2023-03-31 0000896156 us-gaap:IntersegmentEliminationMember eth:WholesaleSegmentMember 2023-07-01 2024-03-31 0000896156 us-gaap:IntersegmentEliminationMember eth:WholesaleSegmentMember 2023-01-01 2023-03-31 0000896156 us-gaap:IntersegmentEliminationMember eth:WholesaleSegmentMember 2024-01-01 2024-03-31 xbrli:pure utr:Y 0000896156 us-gaap:PerformanceSharesMember 2023-07-01 2024-03-31 0000896156 us-gaap:PerformanceSharesMember 2024-03-31 iso4217:USD x