La-Z-Boy Earnings: Here’s Why the Stock is Down Now
La-Z-Boy Inc. (NYSE:LZB) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.89%.
La-Z-Boy Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 66.67% to $0.30 in the quarter versus EPS of $0.18 in the year-earlier quarter.
Revenue: Rose 9.81% to $359.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: La-Z-Boy Inc. reported adjusted EPS income of $0.30 per share. By that measure, the company beat the mean analyst estimate of $0.28. It beat the average revenue estimate of $357.67 million.
Quoting Management: Kurt L. Darrow, Chairman, President and Chief Executive Officer of La-Z-Boy, said, “We are pleased with our results for the quarter and full year and believe they demonstrate the successful execution and effectiveness of our strategic plan to operate as an efficient integrated retailer, through which we are enjoying a double-digit wholesale/retail margin. For the year, we increased sales, delivered a significant increase in our consolidated operating income, achieved profitability in our retail segment, strengthened our balance sheet, and reinstated our dividend. We believe many growth opportunities exist to maximize our business model, making for an exciting future in which we plan to leverage the solid strategic and operating platforms we have established over the past several years.”
Key Stats (on next page)…