Reports Q4 revenue $344M, consensus $334.53M. CEO John Reed commented, “…we delivered another outstanding year in 2023, with record net revenue of approximately $1.3B, net income of $125M, and adjusted EBITDA of $203M. We ended the year with over $223M in cash and cash equivalents and a debt-free balance sheet…Our growth momentum and strategic investments continue in 2024, when we expect to add approximately nine to eleven new Showrooms: four to six Traditional Showroom formats, two Design Studios, and three outlets, along with several renovation, relocation and expansion projects…Given our strong cash generation and balance sheet strength, I am pleased to announce our Board of Directors approved a special cash dividend of 50c per share payable on or about April 4, 2024, to shareholders of record at the close of business on March 21, 2024. We are very pleased to be able to return value to our shareholders while retaining the balance sheet strength that will allow us to continue investing in the growth of Arhaus”.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ARHS:
- Arhaus Announces Fourth Quarter and Full Year 2023 Financial Results
- Arhaus price target raised to $14.50 from $13.50 at BofA
- Arhaus price target raised to $15 from $13 at Telsey Advisory
- TD Cowen home improvement analyst to hold an analyst/industry conference call
- Arhaus Unveils Second Volume of Its Editorial Series Storied, ‘Bellissimo Segreto’
