Ethan Allen Interiors Inc Down 8.11% To $25.85 After Earnings Miss

Ethan Allen Interiors Inc (ETD) missed earnings projections on 10/25/2023 for Q1 2024.

Wall Street earnings per share (EPS) projections for Ethan Allen Interiors Inc were at $0.72. The company missed those estimates with an EPS of $0.63. The earnings per share of $0.63 (which represents a -13% EPS surprise) led to the company's profits falling 43% compared to last year when the firm reported an EPS of $1.11. The decline in Ethan Allen Interiors Inc's annual growth rate represents how the business isn't performing well amid current economic conditions.

Revenues were downbeat at $163.9 million. That represents a 23.60% decrease in revenues from the year-ago report and is 2.56% lower than consensus estimates set at $168.2 million.

The stock is down 8.11% to $25.85 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Ethan Allen Interiors Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 50. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Ethan Allen Interiors Inc. is a U.S.-based company that manufactures and retails home furnishings and accessories. The firm conducts activities through its wholly owned subsidiary, Ethan Allen Global, Inc., which operates through its own subsidiaries. The company does business across North America, Europe, Asia, and the Middle East. The vast majority of the firm's products are produced in its U.S. plants. The company's activities are divided between its Wholesale unit that includes case goods, upholstered products, and home accents, and its Retail segment. The majority of revenue within Wholesale is generated by upholstered products, and the majority of revenue for the overall company is derived from the Retail segment.