Furniture company La-Z-Boy (NYSE: LZB) will be reporting results tomorrow after market hours. Here’s what you need to know.
La-Z-Boy beat analysts’ revenue expectations by 2.8% last quarter, reporting revenues of $521 million, up 1.9% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates.
Is La-Z-Boy a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting La-Z-Boy’s revenue to grow 3.1% year on year to $515.8 million, a reversal from the 12.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.67 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. La-Z-Boy has missed Wall Street’s revenue estimates four times over the last two years.
Looking at La-Z-Boy’s peers in the consumer discretionary segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Mohawk Industries posted flat year-on-year revenue, beating analysts’ expectations by 4.1%, and Leggett & Platt reported a revenue decline of 5.3%, topping estimates by 2.8%. Mohawk Industries traded down 1.4% following the results while Leggett & Platt was up 4.5%.
Read our full analysis of Mohawk Industries’s results here and Leggett & Platt’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices up 1.1% on average over the last month. La-Z-Boy’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $46 (compared to the current share price of $45.46).
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