La-Z-Boy (LZB) Reports Q2: Everything You Need to Know Before Earnings Announce

Furniture company La-Z-Boy (NYSE:LZB) is set to report earnings tomorrow afternoon. Here’s what you need to know.

La-Z-Boy beat analyst revenue expectations by 7.2% in the latest quarter, reporting revenue of $553.5 million, down 1.4% year over year. It was an outstanding quarter for the company, with an impressive beat on analyst earnings estimates and a narrow beat on analyst wholesale revenue estimates.

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Analysts are expecting La-Z-Boy revenue to be flat year over year at $482.2 million for the quarter, an improvement from a 20.3% decline in the same quarter last year. Adjusted earnings are expected to be $0.60 per share.

Most analysts covering the company have reaffirmed their estimates over the past 30 days, suggesting they expect the company to maintain its earnings trajectory. La-Z-Boy has missed Wall Street revenue estimates just once in the past two years, beating revenue expectations by an average of 3.6%.

Looking at La-Z-Boy’s competitors in the home furnishings segment, some have already reported second-quarter results, giving us a hint of what to expect. Mohawk Industries’ revenue fell 5.1% year over year, missing analysts’ expectations of a 1.2% drop, and Leggett & Platt saw revenue decline 7.6%, in line with consensus estimates. Mohawk Industries saw a 19.3% increase after the results, while Leggett & Platt also rose 1%.

Read our full analysis of Mohawk Industries results here and Leggett & Platt results here.

Growth stocks have been quite volatile since the start of 2024, and while some home improvement stocks have fared slightly better, they haven’t been spared, with shares down an average of 3.2% over the past month. La-Z-Boy’s share price has remained flat over that same time frame, trending toward earnings with an average analyst price target of $45 (up from the current share price of $42.36).

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