La-Z-Boy (LZB) Q4 Earnings and Revenues Surpass Estimates

Core Viewpoint - La-Z-Boy reported quarterly earnings that exceeded consensus estimates, but the company has faced challenges in revenue compared to the previous year Financial Performance - La-Z-Boy achieved quarterly earnings of $0.95 per share, surpassing the Zacks Consensus Estimate of $0.68 per share, though this is a decrease from $0.99 per share a year ago [2] - The company posted revenues of $553.54 million for the quarter ended April 2024, exceeding the Zacks Consensus Estimate by 6.70%, but down from $561.29 million in the same quarter last year [3] - The earnings surprise for the recent quarter was 39.71%, while the previous quarter saw a negative surprise of -10.67% [9] Market Performance - La-Z-Boy shares have declined approximately 8.7% since the beginning of the year, contrasting with the S&P 500's gain of 13.9% [4] - The current consensus EPS estimate for the upcoming quarter is $0.60 on revenues of $478.5 million, and for the current fiscal year, it is $2.80 on revenues of $2.06 billion [6] Industry Context - The Furniture industry, to which La-Z-Boy belongs, is currently ranked in the top 33% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom half [13] - Another company in the same industry, MillerKnoll, is expected to report revenues of $899.1 million, reflecting a 6% decline from the previous year [8]