Core Viewpoint - La-Z-Boy Incorporated (LZB) reported solid first-quarter fiscal 2025 results, with earnings meeting expectations and revenues exceeding estimates, driven by increased delivered volume in the Wholesale segment [1][4]. Financial Performance - Adjusted earnings for the quarter were 62 cents per share, aligning with the Zacks Consensus Estimate and the previous year's figures [4]. - Consolidated delivered sales reached $496 million, surpassing the consensus estimate of $486 million by 1.9% and increasing 3% from $482 million in the prior-year quarter [4]. Segment Performance - **Retail Segment**: Delivered sales decreased 3% to $202 million due to component shortages affecting backlog deliveries. However, written sales increased 4% year over year, driven by growth in new and acquired stores [5][6]. - **Wholesale Segment**: Sales rose 5% year over year to $351 million, supported by increased delivered volume to external customers, although partially offset by lower intercompany sales [7]. - **Corporate & Other**: Sales declined 3.4% year over year to $39 million, with Joybird's written sales increasing 9% year over year, while delivered sales fell 3% to $35 million [8]. Financial Position - As of July 27, 2024, the company had $342.3 million in cash and equivalents, a slight increase from $341.1 million at the end of fiscal 2024. Net cash from operations for the quarter was $52 million, compared to $26 million in the prior-year period [9]. Future Guidance - For the second quarter of fiscal 2025, the company anticipates delivered sales between $495 million and $515 million, compared to $511 million in the same quarter last year. The non-GAAP operating margin is expected to be in the range of 6-7%, down from 7.9% in the prior year [10]. Strategic Focus - The company remains committed to long-term investments despite short-term challenges in the furniture industry, aiming for modest sales improvement in the second quarter supported by seasonality. The Century Vision strategy focuses on expanding the Retail segment through enhanced in-store execution, new store openings, and acquisitions of independent La-Z-Boy Furniture Galleries [2][3].

La-Z-Boy (LZB) came out with quarterly earnings of $0.62 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this furniture company would post earnings of $0.68 per share when it actually produced earnings of $0.95, delivering a surprise of 39.71%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. La-Z-Boy, which belongs to ...

Financial Performance - Consolidated delivered sales for the first quarter of Fiscal 2025 were $496 million, up 3% compared to the prior year[1]. - GAAP diluted EPS decreased to $0.61 from $0.63, while Non-GAAP diluted EPS remained at $0.62[6]. - Operating cash flow for the quarter was $52 million, doubling from $26 million in the same period last year[8]. - Sales for the quarter ended July 27, 2024, were $495,532, an increase of 2% from $481,651 in the same quarter last year[19]. - Gross profit for the quarter was $213,343, compared to $205,728 in the prior year, reflecting a gross margin improvement[19]. - Operating income decreased to $32,370 from $34,526 year-over-year, indicating a decline of approximately 6%[19]. - Net income attributable to La-Z-Boy Incorporated was $26,159, down from $27,479, representing a decrease of about 4.8%[19]. - Basic net income per share was $0.62, slightly down from $0.64 in the previous year[19]. - Consolidated operating income for the quarter was $32,370, a decrease of 6.3% from $34,526 in the same quarter last year[25]. - Non-GAAP operating income was $32,764, down from $33,751, reflecting a decline of 2.9% year-over-year[27]. - GAAP net income attributable to La-Z-Boy Incorporated was $26,159, compared to $27,479 in the previous year, representing a decrease of 4.8%[27]. - Diluted EPS for GAAP net income was $0.61, down from $0.63 in the same quarter last year[27]. - Non-GAAP net income attributable to La-Z-Boy was $26,453, slightly down from $26,945, a decrease of 1.8% year-over-year[27]. Segment Performance - Retail segment written sales increased 4%, but same-store sales decreased 3% due to lower traffic and softer demand[6]. - Wholesale segment sales rose 5% to $351 million, driven by higher delivered volume to external customers[7]. - Joybird's written sales increased 9%, while delivered sales decreased 3% to $35 million[7]. - Wholesale segment sales to external customers rose to $256,020, up 8.4% from $236,251 year-over-year[25]. - Retail segment sales decreased to $202,370, down 2.1% from $208,243 in the prior year[25]. - The wholesale segment's operating income margin was 6.8%, slightly down from 7.0% in the prior year[29]. - The retail segment's operating income margin decreased to 10.2% from 14.1% year-over-year[29]. Cash Flow and Shareholder Returns - La-Z-Boy returned approximately $42 million to shareholders, including $34 million in share repurchases and $8 million in dividends[8]. - The company ended the quarter with $342 million in cash and no external debt[8]. - Net cash provided by operating activities was $52,318, significantly higher than $25,913 in the same quarter last year[23]. - The company reported a net cash used for investing activities of $17,193, compared to $12,679 in the prior year[23]. Assets and Equity - Total current assets as of July 27, 2024, were $834,375, a decrease from $836,808 as of April 27, 2024[21]. - Total assets increased to $1,917,615 from $1,913,442, showing a slight growth[21]. - Total equity decreased to $1,010,476 from $1,013,360, indicating a slight decline in shareholder equity[21]. Future Outlook - The company expects second quarter sales to be in the range of $495-515 million, with Non-GAAP operating margin projected between 6-7%[2].

Financial Performance - Consolidated delivered sales for the first quarter of fiscal 2025 were $496 million, reflecting a 3% increase compared to the prior year [1][7] - The GAAP diluted earnings per share (EPS) was $0.61, down from $0.63 in the previous year, while Non-GAAP diluted EPS remained stable at $0.62 [1][7][28] - Operating cash flow for the quarter was $52 million, doubling the amount from the same period last year [1][10] Segment Performance - The Wholesale segment saw sales increase by 5% to $351 million, driven by higher delivered volume to external customers [9][26] - The Retail segment experienced a 4% increase in written sales, but same-store sales decreased by 3% due to lower traffic and softer demand [2][8] - The Retail segment's delivered sales decreased by 3% to $202 million, impacted by the prior year's backlog deliveries [8][9] Operating Margins - The GAAP operating margin for the consolidated results was 6.5%, down from 7.2% in the previous year, while the Non-GAAP operating margin decreased to 6.6% from 7.0% [1][7][30] - The Retail segment's GAAP operating margin was 10.2%, down from 14.1%, reflecting fixed cost deleverage [8][30] - The Wholesale segment's Non-GAAP operating margin increased to 6.9%, up 10 basis points from the previous year [9][30] Cash Flow and Shareholder Returns - The company generated $52 million in operating cash flow and returned approximately $42 million to shareholders, including $34 million in share repurchases and $8 million in dividends [10][11] - The company declared a quarterly cash dividend of $0.20 per share, payable on September 16, 2024 [11] Strategic Outlook - The company remains committed to its Century Vision strategy, focusing on long-term growth through investments in retail execution and store expansion [3][4] - Despite current macroeconomic challenges, the company expects modest sales growth in the second quarter of fiscal 2025, projecting sales between $495 million and $515 million [4][10]

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies. Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use fundamental analysis and ...

MONROE, Mich., Aug. 06, 2024 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE:LZB) will report its Fiscal 2025 First Quarter results for the period ended July 27, 2024 after the close of trading on the New York Stock Exchange on Tuesday, August 20, 2024, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Wednesday, August 21, 2024. The dial-in phone number for the live conference call will be (888) 506-0062 for persons calling from within the U.S. or Canada, and ...

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits. One company to watch right now is LaZBoy (LZB) . LZB is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A. The stock holds a P/E ratio of 13, while its industry has an average P/E of 13.79. Over the past 52 weeks ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Bel ...

La-Z-Boy is one of 281 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #15 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst. The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics ...

Core Viewpoint - La-Z-Boy is strategically expanding its store network through acquisitions and organic growth, which has led to significant increases in operating income and a solid financial profile despite industry challenges [2][5][9]. Financial Performance - In FY2024, La-Z-Boy spent $39.4 million to acquire 11 Furniture Galleries stores and opened six new company-owned stores, with total capital expenditures of $53.6 million [2]. - Operating income rose from $30.4 million in FY2011 to $158.0 million in FY2024, reflecting a compound annual growth rate (CAGR) of 13.5% [2]. - The company's five-year average return on equity is 14.4% [2]. - La-Z-Boy's stock has appreciated approximately 64% over the past decade, with a current dividend yield of 2.22% [5]. Store Network Expansion - The total retail network expanded from 304 to 355 Furniture Galleries stores and from 526 to 528 Comfort Studios from FY2011 to FY2024 [6]. - La-Z-Boy now owns 187 Furniture Galleries stores, more than double the number from FY2011, with plans to continue acquiring 5-10 stores annually until at least FY2027 [6]. Industry Context - La-Z-Boy's revenue declined by 12.9% in FY2024, which is less severe compared to competitors experiencing declines over 20% [11]. - The company is positioned well to navigate current industry headwinds, leveraging a strong balance sheet with no interest-bearing debt and significant cash reserves of $347.9 million [11]. Future Outlook - The fair value estimate for La-Z-Boy's stock is $50.33, indicating a potential upside of 40% from the current stock price [4]. - Future growth is projected at 2% for FY2025, with a rebound to 7.5% growth in FY2026 as industry conditions improve [8]. - The company aims to achieve a double-digit operating margin as it continues to expand its retail network and acquire stores [18].