Ethan Allen Interiors Says Manufacturing Plant In Orleans, Vermont, Resumes Operations Following July Flooding; Expects $15M Impact To Q1 Sales Due To Production Delays
Portfolio Pulse from Benzinga Newsdesk
Ethan Allen Interiors has resumed operations at its manufacturing plant in Orleans, Vermont, following flooding in July. The company expects a $15M impact to Q1 sales due to production delays. Ethan Allen is working through insurance to recover a portion of the losses, which will be included in the fiscal 2024 first quarter financial results.
September 19, 2023 | 8:50 pm
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Ethan Allen Interiors expects a $15M impact to Q1 sales due to production delays caused by flooding. The company is working to recover a portion of the losses through insurance.
The flooding has caused significant production delays, which will negatively impact Ethan Allen's Q1 sales. This is likely to negatively affect the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100