11:10 AM EST, 03/07/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and first paragraph.)

Arhaus ( ARHS ) shares were up almost 17% in recent Thursday trading after posting better-than-expected Q4 adjusted net income and net revenue.

The company reported Q4 adjusted net income of $0.22 per diluted share, down from $0.34 a year earlier.

Analysts polled by Capital IQ expected $0.16.

Net revenue for the quarter ended Dec. 31 was $344 million, down from $356.3 million a year earlier.

Analysts surveyed by Capital IQ expected $335.5 million.

The home furnishings company said it expects Q1 net income of $1 million to $3 million on net revenue of $260 million to $270 million. Analysts polled by Capital IQ expect a net income of $17.6 million and revenue of $292.3 million.

Arhaus ( ARHS ) said it expects full-year 2024 net income of $95 million to $105 million on net revenue of $1.33 billion to $1.37 billion. Analysts surveyed by Capital IQ expect net income of $103.7 million on revenue of $1.33 billion.

The company also said its board has approved a special cash dividend of $0.50 per share, payable around April 4 to shareholders of record as of March 21.

Price: 14.96, Change: +2.14, Percent Change: +16.72