La-Z-Boy Inc is a well-known manufacturer and retailer of upholstered furniture, including recliners, sofas, and other home furnishings
The company is recognized for its commitment to comfort and quality, offering a range of products that combine innovative design with functionality. With a focus on both style and comfort, La-Z-Boy operates a network of company-owned and independent retail stores, as well as an extensive online presence, making its products accessible to a wide array of customers. The brand is synonymous with relaxation and has built a reputation for excellence in both craftsmanship and customer service.
Looking back on home furnishings stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Leggett & Platt (NYSELEG) and its peers.
La-Z-Boy has had an impressive run over the past six months as its shares have beaten the S&P 500 by 9.2%. The stock now trades at $43.09, marking a 15.2% gain. This was partly thanks to its solid quarterly results, and the run-up might have investors contemplating their next move.
Furniture company La-Z-Boy (NYSELZB) reported Q3 CY2024 results exceeding the market’s revenue expectations, with sales up 1.9% year on year to $521 million. Guidance for next quarter’s revenue was better than expected at $515 million at the midpoint, 0.5% above analysts’ estimates. Its non-GAAP profit of $0.71 per share was 10.4% above analysts’ consensus estimates.
The La-Z-Boy brand is a household name synonymous with comfort and quality, which has recently reported its Q4 results. The quarter highlighted its resilient performance and strategic outlook despite a challenging macroeconomic environment.
U.S. stocks could claw back their losses, although nervousness is palpable as traders play the waiting game ahead of Federal Reserve Chair Jerome Powell’s Jackson Hole address on Friday.
La-Z-Boy Inc (NYSELZB) expected to release Q1 earnings on Aug. 20. Analysts predict earnings at 60 cents/share, down from 62 cents last year. Dividend yield at 1.86%, need $64,365 for $100/monthly or $321,825 for $500/monthly. Stock price and dividend payment affect yield.
The gravity-defying climb faces risk, as the index futures trade narrowly mixed in early trading on Tuesday. That said, the recent gains could keep traders wary of a potential pullback.
Tech optimism hasn’t worn out yet, with the Nasdaq futures pointing to a strong start for these stocks, while the Dow and S&P 500 futures were modestly lower.
