Ethan Allen Interiors posts Q2 sales drop
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Ethan Allen Interiors reported a year-over-year decline in fiscal Q2 net sales, missing analyst expectations at $149.9 million. However, adjusted EPS of $0.44 exceeded the forecast of $0.38. The company announced a quarterly cash dividend of $0.39 per share and maintained strong gross margins of 60.9%. Despite a 17.9% drop in retail orders, Ethan Allen remains cautiously optimistic about its operations, emphasizing the benefits of North American manufacturing. Analysts currently rate the stock as a 'hold' with a median price target of $28.00, reflecting a 15.2% upside from its recent trading price.
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