HVT · Haverty Furniture Companies, Inc.

Haverty Furniture reported solid first-quarter results for 2026, with diluted EPS of $0.26 beating the prior year's $0.23. Consolidated sales increased 4.1% to $189.1 million, driven by a 4.3% rise in comparable store sales and a 6.4% increase in total written business. Gross profit margin expanded 30 basis points to 61.5%, supported by higher average tickets and strong demand during Presidents' Day. The design program continued to be a key differentiator, accounting for 35.3% of written business, up from 33.2% in the prior year, with designer average tickets more than double the overall average. SG&A expenses as a percentage of sales improved slightly to 58.9% from 59.0%, though absolute SG&A increased $4.1 million due to higher selling costs, administrative expenses, and occupancy costs. The company maintained a strong balance sheet with no funded debt, $114.1 million in cash, and $80.0 million in credit availability. Management provided full-year 2026 guidance, including gross profit margins of 60.5% to 61.0%, fixed and discretionary SG&A of $307-$309 million, variable SG&A of 18.6%-18.8%, an effective tax rate of 26.0%, and capital expenditures of approximately $34.0 million, reflecting increased investment in store growth. The company also noted it is monitoring tariff developments and has incorporated currently effective tariffs into its guidance.