La-Z-Boy Q1 Adj. EPS $0.62 Beats $0.55 Estimate, Sales $482.00M Beat $474.58M Estimate
Portfolio Pulse from Benzinga Newsdesk
La-Z-Boy reported Q1 earnings of $0.62 per share, beating the analyst consensus estimate of $0.55 by 12.73%. However, this is a 31.87% decrease from the same period last year. The company also reported quarterly sales of $482.00 million, beating the estimate of $474.58 million by 1.56%, but this is a 20.21% decrease from last year.
August 22, 2023 | 8:16 pm
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NEUTRAL IMPACT
La-Z-Boy's Q1 earnings and sales exceeded estimates, but both showed a significant decrease compared to the same period last year.
While La-Z-Boy beat estimates for Q1, the significant YoY decrease in both earnings and sales could potentially offset any positive impact from beating estimates. The market's reaction will likely depend on whether investors focus more on the beat or the YoY decrease.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100