$HVT-A

HAVERTY FURNITURE COMPANIES INC

CIK:0000216085|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Net sales	$ 194,941	$ 181,025	$ 383,991	$ 362,592
Cost of goods sold (exclusive of depreciation and amortization)	75,210	70,923	148,043	141,407
Gross profit	119,731	110,102	235,948	221,185
Expenses:
Selling, general and administrative	113,163	107,333	224,439	214,535
Other (income) expense, net	74	(65)	21	(223)
Total expenses	113,237	107,268	224,460	214,312
Income before interest and income taxes	6,494	2,834	11,488	6,873
Interest income, net	923	1,492	1,889	2,746
Income before income taxes	7,417	4,326	13,377	9,619
Income tax expense	2,111	1,637	3,810	3,152
Net income	5,306	2,689	9,567	6,467
Other comprehensive income	0	0	0	0
Comprehensive income	$ 5,306	$ 2,689	$ 9,567	$ 6,467
Common Stock
Basic earnings per share:
Basic earnings per share (in dollars per share)	$ 0.33	$ 0.17	$ 0.60	$ 0.40
Diluted earnings per share:
Diluted earnings per share (in dollars per share)	0.32	0.16	0.58	0.39
Cash dividends per share:
Cash dividends per share (in dollars per share)	0.33	0.32	0.66	0.64
Class A Common Stock
Basic earnings per share:
Basic earnings per share (in dollars per share)	0.31	0.15	0.56	0.37
Diluted earnings per share:
Diluted earnings per share (in dollars per share)	0.31	0.15	0.56	0.37
Cash dividends per share:
Cash dividends per share (in dollars per share)	$ 0.31	$ 0.30	$ 0.62	$ 0.60

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities:
Net income	$ 9,567	$ 6,467
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	12,340	11,831
Share-based compensation expense	4,493	3,986
Other	585	1,156
Changes in operating assets and liabilities:
Inventories	(4,347)	(9,851)
Customer deposits	7,833	(1,382)
Other assets and liabilities	(8,050)	658
Accounts payable and accrued liabilities	(1,058)	512
Net cash provided by operating activities	21,363	13,377
Cash Flows from Investing Activities:
Capital expenditures	(13,148)	(11,702)
Proceeds from sale of land, property, and equipment	54	19
Net cash used in investing activities	(13,094)	(11,683)
Cash Flows from Financing Activities:
Dividends paid	(10,629)	(10,353)
Common stock repurchased	(16,568)	(2,000)
Taxes on vested restricted shares	(1,984)	(1,884)
Net cash used in financing activities	(29,181)	(14,237)
Decrease in cash, cash equivalents, and restricted cash equivalents during the period	(20,912)	(12,543)
Cash, cash equivalents, and restricted cash equivalents at beginning of period	131,872	126,314
Cash, cash equivalents, and restricted cash equivalents at end of period	$ 110,960	$ 113,771

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 104,295	$ 125,325
Restricted cash and cash equivalents	6,665	6,547
Inventories	100,502	96,155
Prepaid expenses	17,393	10,236
Other current assets	8,448	11,064
Total current assets	237,303	249,327
Property and equipment, net	178,806	177,207
Right-of-use lease assets	205,422	190,586
Deferred income taxes	20,011	19,301
Other assets	14,514	12,631
Total assets	656,056	649,052
Current liabilities
Accounts payable	20,627	15,447
Customer deposits	43,337	35,504
Accrued liabilities	41,168	46,531
Current lease liabilities	35,220	35,967
Total current liabilities	140,352	133,449
Noncurrent lease liabilities	195,493	180,450
Other liabilities	26,139	27,224
Total liabilities	361,984	341,123
Capital Stock, par value $1 per share
Preferred Stock, Authorized – 1,000 shares; Issued: None
Additional paid-in capital	126,678	123,373
Retained earnings	416,791	417,853
Accumulated other comprehensive loss	(1,111)	(1,111)
Less treasury stock at cost – Common Stock (2026 – 16,403 and 2025 – 15,699 shares) and Convertible Class A Common Stock (2026 and 2025 – 522 shares)	(280,805)	(264,551)
Total stockholders’ equity	294,072	307,929
Total liabilities and stockholders’ equity	656,056	649,052
Common Stock
Capital Stock, par value $1 per share
Common Stock/Convertible Class A Common Stock	30,787	30,633
Class A Common Stock
Capital Stock, par value $1 per share
Common Stock/Convertible Class A Common Stock	$ 1,732	$ 1,732