La-Z-Boy Inc. (NYSE:LZB) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.69%.
La-Z-Boy Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 125% to $0.18 in the quarter versus EPS of $0.08 in the year-earlier quarter.
Revenue: Rose 5.77% to $318.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: La-Z-Boy Inc. reported adjusted EPS income of $0.18 per share. By that measure, the company beat the mean analyst estimate of $0.15. It missed the average revenue estimate of $323.02 million.
Quoting Management: Kurt L. Darrow, Chairman, President and Chief Executive Officer of La-Z-Boy, said, “The momentum in our business continued through what is typically a seasonally slower quarter and we are pleased with the improved year-over-year sales and earnings results. In addition to harnessing the power of our brand, our efforts to broaden our consumer base with product introductions of compelling, stylish, on-trend furniture are enabling us to gain market share. At the same time, our results demonstrate the strength of our integrated retail strategy and the efficiencies of our manufacturing platform, both of which position us well for ongoing growth and profitability.”
Key Stats (on next page)…
Revenue decreased 11.3% from $359.54 million in the previous quarter. EPS decreased 40% from $0.30 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.25 to a profit $0.26. For the current year, the average estimate has moved up from a profit of $1.10 to a profit of $1.12 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)