DOW vs. BITCOIN: Which One Could Reach 40,000 in the Next 12 Months?

Louis Navellier and Matt McCall reveal their #1 picks for the coming bull market for FREE.

La-Z-Boy Earnings: LZB Stock Falls 8% on Q2 Miss

LZB missed EPS and revenue estimates for Q2

La-Z-Boy (NYSE:LZB) earnings for the furniture company’s fiscal second quarter of 2020 have LZB stock taking a beating after the markets closed Wednesday. That’s thanks to its Non-GAAP earnings per share of 52 cents. This is below Wall Street’s estimate of 54 cents for the quarter. Revenue of $447.21 million didn’t help by missing analysts’ estimates of $454.39 million.

La-Z-Boy Earnings: LZB Stock Falls 8% on Q2 Miss
Source: JHVEPhoto / Shutterstock.com

The La-Z-Boy earnings report for fiscal Q2 2020 also includes the following.

  • Adjusted EPS increasing 8.33% YoY from 48 cents.
  • Revenue coming in 1.79% higher than $439.33 million in the same period of the year prior.
  • Operating income of $29.60 million is 3.86% better than $28.50 million in the fiscal second quarter of 2019.
  • There’s also a net income of $22.90 million in the current La-Z-Boy earnings report.
  • This is a 12.35% increase over the company’s net income of $20.35 million reported during the same time last year.

Kurt Darrow, Chairman, President and Chief Executive Officer of La-Z-Boy, says this about the LZB stock earnings.

“As evidenced by solid written same-store sales across the La-Z-Boy Furniture Galleries® network and the sixth consecutive quarter of delivered same-store sales growth for our company-owned Retail segment, the La-Z-Boy brand continues to exhibit strength and relevance in today’s challenging home furnishings environment.”

Leaders will be going over the La-Z-Boy earnings report in a conference call. It will take place on Thursday, Nov. 21, 2019, at 8:30 a.m. Eastern Time.

LZB stock was down 7.71% in after-hours trading on Wednesday. The stock also closed out the day down roughly 1%.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/11/la-z-boy-earnings-blast-lzb-stock/.

©2020 InvestorPlace Media, LLC