La-Z-Boy Q1 2025 Earnings Report
Key Takeaways
La-Z-Boy Incorporated reported first quarter results for the period ended July 27, 2024, with sales totaling $496 million, a 3% increase year-over-year. GAAP diluted EPS was $0.61 and Non-GAAP diluted EPS was $0.62. Operating cash flow doubled to $52 million compared to the previous year.
Consolidated delivered sales increased by 3% year-over-year, reaching $496 million.
Wholesale segment sales grew by 5% due to external customer growth.
GAAP diluted EPS was $0.61, and Non-GAAP diluted EPS was $0.62.
Operating cash flow doubled, generating $52 million for the quarter.
La-Z-Boy
La-Z-Boy
La-Z-Boy Revenue by Segment
Forward Guidance
The company expects sales in the second quarter of fiscal 2025 to improve modestly versus the first quarter, supported by seasonality, with sales expected to be in the range of $495-515 million and Non-GAAP operating margin to be in the range of 6-7%.
Positive Outlook
- Sales expected to improve modestly versus the first quarter
- Supported by seasonality
- Company continues to invest in Century Vision strategy
- Building the business for the long term
Challenges Ahead
- Overall macroeconomic environment remains challenging
- Consumer spending environment remains challenging
- Industry will remain under pressure in the near term
- Market contends with still high interest rates
- Muted housing turnover
Revenue & Expenses
Visualization of income flow from segment revenue to net income