“Where Are the Numbers?” Doug Bergeron Calls on Ethan Allen to Release First Quarter Results Before November 4 Board Vote
Key Highlights
- ➤Ethan Allen has not announced fiscal Q1 2027 results release date before November 4 vote
- ➤FY2026 operating margin 7.8%, down from 17.3% in FY2023
- ➤Regular dividend consumed approximately 97% of adjusted EPS in FY2026
- ➤Cash dividends exceeded free cash flow, with $46 million paid versus $41 million generated
- ➤Doug Bergeron beneficially owns approximately 5.2% and seeks board changes
Expert Statements
Doug Bergeron, Significant shareholder of Ethan Allen Interiors Inc.
“Where are the numbers? Shareholders are on the verge of deciding who will oversee Ethan Allen’s next chapter, yet the Board of Directors (the “Board”) has not told them if, or when, they will see the Company’s latest financial results.”
Doug Bergeron, Significant shareholder of Ethan Allen Interiors Inc.
“For each of the past ten years, Ethan Allen announced the release date for its fiscal first quarter results no later than October 18.(1) This year, with the Annual Meeting just over two weeks away, shareholders have heard nothing.”
Doug Bergeron, Significant shareholder of Ethan Allen Interiors Inc.
“However, this election is not about a single quarter. After 20 years of deteriorating performance, including four consecutive quarters of fixed-cost deleveraging from declining sales, shareholders should have no reason to trust the Chairman and CEO and the incumbent Board’s promises of sustainable growth.”
Doug Bergeron, Significant shareholder of Ethan Allen Interiors Inc.
“The Board’s October 15 investor presentation only reinforces our concerns about its pattern of selective financial disclosures, misleading representations and lack of accountability.”
Doug Bergeron, Significant shareholder of Ethan Allen Interiors Inc.
“First, the Board selects the numbers it wants shareholders to see. Now, it has not even said when they will see the latest results.”
Doug Bergeron, Significant shareholder of Ethan Allen Interiors Inc.
“Shareholders deserve the full picture, not selective disclosures and more promises from a Board that has allowed the decline to continue under the same Chairman and CEO.”
Doug Bergeron, Significant shareholder of Ethan Allen Interiors Inc.
“On November 4, shareholders have an opportunity to demand a new standard of transparency, accountability and leadership by electing a Board with the experience and a credible plan to restore growth and drive long-term value creation.”
“Where Are the Numbers?” Doug Bergeron Calls on Ethan Allen to Release First Quarter Results Before November 4 Board Vote
Company Has Yet to Announce an Earnings Release Date, Departing from a Decade of Consistent Disclosure Practice
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