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La-Z-Boy (LZB) Q3 Earnings: What To Expect

Published 02/19/2024, 02:00 AM
Updated 02/19/2024, 06:31 AM
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.

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