Furniture company La-Z-Boy (NYSE:LZB) will be announcing earnings results today. Here's what you need to know.
La-Z-Boy missed analysts' revenue expectations by 4.3% last quarter, reporting revenues of $500.4 million, down 12.6% year on year. It was a weak quarter for the company, with a miss of analysts' revenue and earnings estimates.
Is La-Z-Boy a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting La-Z-Boy's revenue to decline 8% year on year to $516.4 million, improving from the 18% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.70 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. La-Z-Boy has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 3% on average.
Looking at La-Z-Boy's peers in the home furnishings segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Tempur Sealy's revenues decreased 1.5% year on year, missing analysts' expectations by 1.3%, and Purple reported revenues up 12.5%, falling short of estimates by 1.7%. Tempur Sealy traded up 3.9% following the results while Purple was down 9.5%.
Read our full analysis of Tempur Sealy's results here and Purple's results here.
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