La-Z-Boy Q3 2024 Earnings Report
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.
La-Z-Boy
La-Z-Boy
La-Z-Boy 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