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 content disributed by Reportable. Read the original source here, Stonegate Capital Partners Updates Coverage on Hooker Furniture Corporation (NASDAQ: HOFT)
