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Jan 27, 2024
La-Z-Boy Q3 2024 Earnings Report
La-Z-Boy reported Q3 2024 results, with sales decreasing due to pandemic backlog delivery and weather impacts, but gross margin expanded across all segments.
Key Takeaways
La-Z-Boy Incorporated reported a 13% decrease in sales to $500 million compared to the previous year, impacted by winter weather events. GAAP diluted EPS was $0.66, and Non-GAAP diluted EPS was $0.67. The company acquired six independent La-Z-Boy Furniture Galleries® stores and has plans for an additional two-store acquisition.
Consolidated delivered sales were $500 million, down 13% year-over-year but up 5% versus the pre-pandemic third quarter.
Winter weather events in January impacted results.
GAAP diluted EPS was $0.66, and Non-GAAP diluted EPS was $0.67.
Six independent La-Z-Boy Furniture Galleries® stores were acquired, with plans for two more.
Revenue by Segment
Forward Guidance
For the fourth quarter of fiscal 2024, the company expects delivered sales to be in the range of $505-535 million and Non-GAAP operating margin to be in the range of 7-8%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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