La-Z-Boy CFO Bob Lucian Says We Expect Delivered Sales To Be In The Range Of $505M-$535M And Non-GAAP Operating Margin To Be In The Range Of 7-8%" (Q4 Revenue Estimate $544.39M)
Portfolio Pulse from Benzinga Newsdesk
La-Z-Boy CFO Bob Lucian announced Q4 fiscal 2024 sales expectations of $505M-$535M, below the estimated $544.39M, with a Non-GAAP operating margin of 7-8%. This comes after Q3 results met sales guidance and margin expectations, excluding January's weather impacts. The company aims for prudent near-term planning while focusing on long-term investments and growth.
February 20, 2024 | 9:18 pm
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La-Z-Boy expects Q4 sales to fall below analyst estimates with projected sales of $505M-$535M against an expected $544.39M, and aims for a 7-8% Non-GAAP operating margin.
The projected sales figures for La-Z-Boy in Q4 are below the analyst estimates, which could lead to negative investor sentiment and potentially impact the stock price negatively in the short term. The company's focus on prudent planning and long-term growth, despite meeting Q3 targets, suggests a cautious approach to the current market conditions.
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