La-Z-Boy Q2 Adj EPS $0.74 Beats $0.62 Estimate, Sales $511.44M Beat $502.33M Estimate
Portfolio Pulse from Benzinga Newsdesk
La-Z-Boy Inc. reported Q2 adjusted earnings per share (EPS) of $0.74, surpassing the consensus estimate of $0.62 by 19.35%. However, this represents a 29.52% decrease from the $1.05 EPS reported in the same quarter last year. Sales for the quarter were $511.44 million, exceeding estimates by 1.81% but showing a 16.34% decline from the previous year's $611.33 million.
November 29, 2023 | 9:59 pm
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NEUTRAL IMPACT
La-Z-Boy exceeded Q2 EPS and sales estimates but reported significant declines from the previous year's figures. The mixed results show earnings resilience but also a concerning year-over-year revenue and profit drop.
While beating EPS and sales estimates is positive and could lead to short-term bullish sentiment, the substantial year-over-year declines in both earnings and sales may raise concerns about the company's growth trajectory and could temper investor enthusiasm. The mixed results present a neutral outlook as the market digests both the positive beat and the negative trend.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100