La-Z-Boy (LZB) Tops Q4 EPS by 15c, Offers Guidance

(Updated - June 21, 2022 4:24 PM EDT)

La-Z-Boy (NYSE: LZB) reported Q4 EPS of $1.07, $0.15 better than the analyst estimate of $0.92. Revenue for the quarter came in at $685 million versus the consensus estimate of $664.91 million.

Guidance:

La-Z-Boy sees Q1 revenue of $560 to $575 milion vs the consensus of $554.2 million.

• Bob Lucian, Chief Financial Officer of La-Z-Boy Incorporated, said, "We are pleased with our strong fourth quarter execution, as we leverage our manufacturing investments to service our large backlog. We expect current macroeconomic and geopolitical uncertainty and its effect on consumer sentiment will likely cause demand trends to remain volatile for the foreseeable future. We are beginning to increase investments in marketing to drive demand for our strong brands to leverage their power in the marketplace, controlling the controllables, and improving our agility to navigate global supply chain disruptions. Taking all known factors into consideration, we expect delivered sales for the fiscal 2023 first quarter to be up 7% to 10% versus the first quarter of fiscal 2022, in a range of $560 million to $575 million, and consolidated non-GAAP operating margin to be in a range of 6.5% to 7.5%."

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

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