La-Z-Boy (NYSE: LZB) reported Q4 EPS of $0.99, $0.27 better than the analyst estimate of $0.72. Revenue for the quarter came in at $561 million versus the consensus estimate of $533.03 million.

GUIDANCE:

La-Z-Boy sees Q1 2024 revenue of $470-490 million, versus the consensus of $522 million.

• Bob Lucian, Chief Financial Officer of La-Z-Boy Incorporated, said, "Excluding the impact of delivering backlog sales (approximately $300 million), normalized La-Z-Boy consumer demand in fiscal 2023 was 17% higher that it was in pre-pandemic fiscal 2019. In fiscal 2024, we expect to grow ahead of the industry from this normalized base, with the back half of our fiscal year stronger than the front half, in line with pre-pandemic seasonality trends. For our first quarter of fiscal 2024, which is generally the lowest sales quarter in the fiscal year, we expect sales to be in the range of $470 to $490 million and operating margin to be in the range of 6.5% to 7.5%.

For earnings history and earnings-related data on La-Z-Boy (LZB) click here.