Why Ethan Allen Interiors Stock Popped 12% After Earnings Preannouncement

Share of furniture maker Ethan Allen Interiors (NYSE: ETH) rushed out of the doors Tuesday morning and are up 12% already as of 10 a.m. EDT. The company's shares were buoyed by a business update and earnings preannouncement that was released last night, in which Ethan Allen predicted its fiscal first-quarter 2021 sales and earnings will both come in significantly higher than analysts had been expecting.  

Specifically, Ethan Allen said sales for the quarter will exceed $151 million (analysts had predicted $137.8 million), and that adjusted earnings will range from $0.34 to $0.36 per diluted share -- versus the $0.02 loss that analysts guessed.

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Source Fool.com