La-Z-Boy (LZB) Tops Q2 EPS by 12c

La-Z-Boy (NYSE: LZB) reported Q2 EPS of $0.85, $0.12 better than the analyst estimate of $0.73. Revenue for the quarter came in at $576 million versus the consensus estimate of $540.04 million.

Outlook:

Bob Lucian, Chief Financial Officer of La-Z-Boy Incorporated, said, "Demand trends remain strong, our backlog is high and we expect delivered sales to continue to strengthen, particularly in the fourth quarter as new production cells come online. At the same time, we expect continued supply chain disruptions, including a temporary, but significant, slowdown in our casegoods business due to COVID-related shutdowns in Vietnam. Quarterly trends will also be impacted by our third and fourth quarters containing 12 and 14 production weeks, respectively, compared to 13 production weeks in our second quarter. Taking all of these factors into consideration, we continue to expect sales and margin momentum to accelerate, particularly in the fourth quarter, and we continue to expect to deliver full-year consolidated operating margin at or near double digits."

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

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