Curated News
By: NewsRamp Editorial Staff
April 21, 2025
Stonegate Capital Partners Updates Coverage on Hooker Furniture Corporation (NASDAQ: HOFT)
TLDR
- HOFT outperformed revenue estimates by 3.3% with a 7.9% y/y gain, showing growth potential.
- HOFT focused on reducing fixed costs by 10%, realizing $10.0M savings through strategic initiatives.
- HOFT aims to grow sustainably by improving operations, reducing debt, and increasing liquidity for future stability.
- HOFT's streamlined supply chain and improved warehousing in Vietnam lead to faster lead times and increased throughput.
Impact - Why it Matters
This news highlights HOFT's financial performance, cost-saving initiatives, and strategic measures to navigate challenging market conditions. Investors and stakeholders can gain insights into the company's resilience, focus on operational efficiency, and commitment to long-term growth.
Summary
Stonegate Capital Partners updates their coverage on Hooker Furniture Corporation (NASDAQ: HOFT), reporting revenue, operating income, and adj EPS of $104.5M, ($2.7)M, and ($0.22), respectively, slightly above consensus estimates. Despite challenging macroeconomic conditions, HOFT focuses on reducing fixed costs by 10% and targeting an additional $10.0M in cost savings through various initiatives.
HOFT maintains its commitment to dividend payment, funding capital allocation priorities with $6.3M in cash and strengthening its balance sheet by reducing debt levels. The company also reports a backlog of ~$52.6M, decreased from the previous quarter but still elevated from pre-pandemic levels.
Source Statement
This curated news summary relied on this press release disributed by Reportable. Read the source press release here, Stonegate Capital Partners Updates Coverage on Hooker Furniture Corporation (NASDAQ: HOFT)
