BSET
Bassett Furniture
Q2 2025 Report
Bassett Furniture Industries Incorporated (BSET) Q2 2025 Financial Results Analysis...
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Executive Summary
Bassett Furniture Industries Incorporated (BSET) reported disappointing results for Q3 2024, characterized by a 13% year-over-year decline in revenue to $75.62 million. The company's performance was adversely impacted by the combination of a struggling housing market, a cyber-attack that hampered operations, and seasonal shutdowns. Despite challenges, improvements were observed in gross margins, reflecting effective cost management strategies. The leadership is cautiously optimistic moving forward, focusing on new product introductions and consolidating operations to pave the way for recovery as the market conditions improve. As the company enhances its customer engagement channels, the potential for future growth remains, albeit contingent upon broader economic shifts.
Key Performance Indicators
Revenue
75.62M
QoQ: -9.34% | YoY:-13.30%
Gross Profit
40.09M
53.02% margin
QoQ: -8.38% | YoY:-10.99%
Operating Income
-6.36M
QoQ: -115.71% | YoY:-67.11%
Net Income
-4.51M
QoQ: 37.44% | YoY:-73.87%
EPS
-0.51
QoQ: 37.80% | YoY:-70.00%
Revenue Trend
Margin Analysis
Key Insights
- **Revenue**: $75.62 million (YoY -13.3%, QoQ -9.34%)
- **Gross Profit**: $40.09 million with a margin of 53.0%, reflecting an improvement of 1.4% from the previous year.
- **Operating Loss**: $(6.36) million, compared to $(3.2) million in Q3 2023.
- **Net Income**: $(4.51) million, translating to an EPS of $(0.51).
- **Current Ratio**: 1.88, indicating a healthy liquidity position.