HAVERTY FURNITURE COMPANIES INC

Listed Company

HVTCIK 0000216085NYSEAcceleratedRetail-Furniture StoresMarylandFY ends Dec 31

Period

FY 2025

Revenue

$759.00M

Net Income

$19.73M

Total Assets

$649.05M

Equity

$307.93M

Shares Out

Op. Cash Flow

$52.64M

Business

HAVERTY FURNITURE COMPANIES INC is a specialty retailer of residential furniture and accessories operating a company-owned store network. It offers branded furniture, mattresses, custom upholstery, home accessories, free in-home design services, and third-party financing. Its operations comprise retail stores, a digital commerce channel integrated with stores, and logistics including three distribution centers and four home delivery centers that handle warehousing and “Top Drawer Delivery.” Havertys serves customers across 17 states in the Southern and Midwest U.S., selling through its stores, website, and its delivery network.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net Sales	759	723	862	1,047	1,013
Cost of goods sold (exclusive of depreciation and amortization)	298	284	339	443	438
Gross profit	460	439	523	604	575
Total selling, general and administrative	439	419	456	486	456
Other (income) expense, net	−543,000	−214,000	77,000	44,000	54,000
Total expenses	439	419	456	486	456
Income before interest and income taxes	22	20	67	118	118
Interest income, net	5	6	6	2	—
Income before income taxes	27	26	73	120	119
Income tax expense	7	6	16	30	28
Net income	20	20	56	89	91
Defined benefit pension plan adjustments; net of tax (benefit) expense of $(81), $38 and $(76)	−242,000	114,000	−227,000	2	267,000
Comprehensive income	19	20	56	91	91

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	125	120	121	123	166
Restricted cash equivalents	7	6	7	7	7
Inventories	96	83	94	118	112
Prepaid expenses	10	15	17	10	12
Other current assets	11	15	13	18	12
Total current assets	249	239	252	276	309
Property and equipment, net	177	183	172	137	126
Right-of-use lease assets	191	194	202	207	222
Deferred income taxes	19	17	16	16	16
Other assets	13	16	13	12	12
Total assets	649	649	654	649	686
Accounts payable	15	15	19	23	31
Customer deposits	36	41	36	48	99
Accrued liabilities	47	40	46	49	47
Current lease liabilities	36	36	37	34	34
Total current liabilities	133	132	138	154	210
Noncurrent lease liabilities	180	182	180	187	197
Other liabilities	27	28	27	18	23
Total liabilities	341	341	346	360	430
Preferred Stock, Authorized 1,000 shares; Issued: None	—	—	—	—	—
Additional paid-in capital	123	117	113	109	103
Retained earnings	418	419	419	398	343
Accumulated other comprehensive loss	−1	−869,000	−983,000	−756,000	−2
Treasury stock at cost Common Stock (2025 15,699; 2024 15,496) and Convertible Class A Common Stock (2025 and 2024 522)	−265	−260	−255	−249	−219
Total stockholders equity	308	308	308	289	256
Total liabilities and stockholders equity	649	649	654	649	686

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	24	22	19	17	16
Net loss on asset impairment	469,000	0	0	—	0
Stock-based compensation	7	7	8	7	8
Deferred income taxes	−2	−1	−1	584,000	234,000
Net (gain) loss on sale of land, property and equipment	−15,000	−153,000	71,000	128,000	−77,000
Other	1	1	1	960,000	869,000
Inventories	−13	11	24	−6	−22
Customer deposits	−5	5	−12	−51	13
Other assets and liabilities	12	7	9	−923,000	−3
Accounts payable and accrued liabilities	8	−11	−7	−6	−6
Net cash provided by operating activities	53	59	97	51	97
Capital expenditures	−20	−32	−53	−28	−34
Proceeds from sale of property and equipment	111,000	461,000	53,000	86,000	88,000
Net cash used in investing activities	−20	−32	−53	−28	−34
Dividends paid	−21	−20	−35	−34	−52
Common stock repurchased	−5	−5	−7	−30	−42
Taxes on vested restricted shares	−2	−3	−4	−2	−3
Net cash used in financing activities	−28	−29	−46	−66	−97
cash equivalents	6	−1	−2	−43	−34
Cash paid during the period for federal income taxes, net of refunds	6	3	20	—	—
Cash paid during the period for state income taxes, net of refunds	1	602,000	3	—	—
Cash paid for interest	162,000	163,000	162,000	127,000	126,000

Filings

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