HVT · Haverty Furniture Companies

The thesis

Haverty Furniture Companies' shares are more likely to lag the S&P 500 over the next three months. Order growth slowed sharply in the third quarter, and the earnings that remain lean on one-time tariff refunds. The fourth-quarter 2026 report, expected in early 2027, settles whether orders re-accelerate or keep fading.

The 4 November 2026 results showed third-quarter sales of $203.2 million, up 4.5% from $194.5 million a year earlier. Comparable-store sales rose 4.1%. Total written business (customer orders) rose 2.8% and comparable-store written business rose 2.3%, against 12.3% in the second quarter. Diluted earnings per share (EPS) were $0.39, including about $3.2 million of refunds of tariffs imposed under the International Emergency Economic Powers Act (IEEPA). Excluding the refunds, adjusted EPS was $0.25.

A Finviz summary put the consensus estimate at $0.42 and reported that the shares fell 11.15% on 5 November 2026. The shares closed at $25.99 on 12 November 2026, 15.1% below the $30.60 52-week high set on 2 November 2026, with a three-month price change of −8.6%.

Bullish and bearish views on Haverty Furniture Companies, Inc.

The bull case on Haverty Furniture Companies, Inc. (HVT), in brief: orders are still growing. The bear case: order growth fell by more than four-fifths.

Bull case

• Orders are still growing. Comparable-store written business rose 2.3% in the third quarter and total written business rose 2.8%, per the 4 November 2026 release.
• Delivered sales beat the year-ago level. Third-quarter sales of $203.2 million compare with $194.5 million a year earlier, per the 4 November 2026 release. Comparable-store sales rose 4.1%.
• The balance sheet carries no debt. Cash, cash equivalents and restricted cash were $127.0 million on 30 September 2026, with no debt and $100 million of credit availability, per the 4 November 2026 release. The company repurchased about 723,000 shares for $16.6 million in the first nine months.
• The dividend was kept. On 6 November 2026 the board declared $0.33 per common share (HVT) and $0.31 per Class A share (HVT.A), payable 9 December 2026 to holders of record on 23 November 2026, per the company announcement.
• Store growth continues. The release guides to five fourth-quarter openings, including Pittsburgh as an 18th state, for 133 stores at year-end.

Bear case

• Order growth fell by more than four-fifths. Comparable-store written business slowed to 2.3% from 12.3% between the second and third quarters, per the 4 August 2026 and 4 November 2026 releases. Finviz also reported mid-single-digit traffic declines and slower average-ticket growth.
• Earnings fell short without refunds. Adjusted EPS of $0.25 compares with the $0.42 consensus Finviz cited on 4 November 2026. Excluding refunds, third-quarter gross margin was 60.7%, against 62.3% as reported.
• Costs are rising faster than guided. Selling, general and administrative expense (SG&A) was 58.6% of sales against 57.8% a year earlier, per the 4 November 2026 release. The company raised its 2026 variable SG&A guide to 19.2%–19.4% of sales, citing delivery, transportation and third-party credit costs.
• The gross-margin raise comes from refunds. Full-year gross margin guidance rose to 61.3%–61.5% from 60.5%–61.0%, which management attributed to the refunds, per the 4 November 2026 release. The guide excludes future refunds on indirectly sourced products.
• Adjusted earnings sit below the dividend. Adjusted EPS of $0.25 is below the $0.33 quarterly common dividend declared 6 November 2026. Reported EPS of $0.39 covers it.

Price setup

The shares closed at $25.99 on 12 November 2026, below the 50-day average of $27.85 and above the 200-day average of $24.71 (both from adjusted daily closes). The close on 6 November 2026 was $25.14, the lowest of the six sessions since the report, and the shares have since held between $25.99 and $26.22.

The 52-week high is $30.60, an intraday level set on 2 November 2026, two days before the results. The 52-week closing low is $20.25, set on 5 May 2026. The shares sit about 28% above that low and 15.1% below the high.

Director Clarence H. Smith sold 20,991 shares at $28.16 on 17 August 2026, per an SEC Form 4 filed 19 August 2026. No later insider transactions appear in SEC filings.

Catalysts ahead

• 23 November 2026: Record date for the $0.33 common and $0.31 Class A dividend. Shows the board kept the payout even though adjusted third-quarter EPS of $0.25 was below it.
• 9 December 2026: Payment date for the fourth-quarter 2026 dividend. Confirms the cash payout continues while cash stands at $127.0 million with no debt.
• ~February 2027 (est.): Fourth-quarter 2026 earnings release; the company has not announced a date. Settles whether comparable-store written business re-accelerates from 2.3% and whether SG&A stays inside the raised guide.

What would change the view

A daily close above $29.43, the close on 3 November 2026 before the third-quarter results, which would show the shares leading again. Fourth-quarter comparable-store written business growth above the 12.3% second-quarter rate would also show the shares leading.

What it trades with

Havertys sells mid-to-upper-priced home furnishings, so its orders follow housing turnover and consumer spending on big-ticket goods. Container freight rates and fuel costs affect its delivery and transportation expense directly, per the 4 November 2026 release. HVT and HVT.A are separate share classes with different dividends, and every price level here refers to HVT. Peers in home furnishings and housing-related retail move with the same demand and tariff conditions.