La-Z-Boy (LZB) Q3 Earnings: What To Expect
Stock Story
Published Feb 19, 2024 02:00AM ET
Updated Feb 19, 2024 06:31AM ET
La-Z-Boy (LZB) Q3 Earnings: What To Expect
Furniture company La-Z-Boy (NYSE:LZB) will be reporting earnings tomorrow after the bell. Here's what to look for.
Last quarter La-Z-Boy reported revenues of $511.4 million, down 16.3% year on year, beating analyst revenue expectations by 1.8%. It was a solid quarter for the company, with a decent beat of analysts' revenue estimates.
Is La-Z-Boy buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting La-Z-Boy's revenue to decline 8.1% year on year to $526.2 million, a deceleration on the 0.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.74 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 3.6%.
Looking at La-Z-Boy's peers in the home furnishings segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Mohawk Industries (NYSE:MHK)'s revenues decreased 1.4% year on year, beating analyst estimates by 1.8% and Tempur Sealy (NYSE:TPX) reported revenue decline of 1.4% year on year, missing analyst estimates by 0.4%. Mohawk Industries traded up 0.3% on the results, and Tempur Sealy was down 2.1%.
Read the full analysis of Mohawk Industries's and Tempur Sealy's results on StockStory.
Investors in the home furnishings segment have had steady hands going into the earnings, with the stocks down on average 0.1% over the last month. La-Z-Boy is up 6.5% during the same time, and is heading into the earnings with analyst price target of $43, compared to share price of $38.0.
Get The News You Want
Written By: Stock Story
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.