Ethan Allen Stock Soars on Q1 Earnings Guidance

Ethan Allen (NYSE:ETH) stock is up about 8.2% on Thursday following the company’s late-week announcement that it was previewing what its quarterly earnings and revenue figures may look like.

Ethan Allen Stock
Source: Amazon

The furniture chain said that for its first quarter of fiscal 2019, it projects that its earnings will be in the range of 32 cents to 33 cents per share, which is in line with what Wall Street is calling for at 32 cents per share, according to data compiled by Thomson Reuters.

Ethan Allen added that for the period, it sees its revenue as being roughly around $187.8 million, which would also top the $184.84 million that analysts are calling for, according to data compiled by Thomson Reuters. The figure would also mark a 3.6% increase compared to what the company brought in during the year-ago quarter.

“We are well positioned to continue growing our sales and profits,” said Ethan Allen CEO M. Farooq Kathwari. “Our retail network, product and marketing programs have been substantially strengthened.”

“We increased advertising by 12.8% during the quarter as we launched our new artisan inspired products in September with a 116-page direct mail magazine and an aggressive advertising campaign in digital, print and other mediums,” he continued. “We plan to continue our strong marketing programs as we move forward.”

ETH stock is up about 8.2% on Thursday afternoon following the news.

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