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.
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.