Furniture company La-Z-Boy (NYSE: LZB) will be reporting earnings this Tuesday after market hours. Here’s what to look for.
La-Z-Boy beat analysts’ revenue expectations last quarter, reporting revenues of $541.6 million, up 3.8% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ adjusted operating income estimates but revenue guidance for next quarter missing analysts’ expectations.
Is La-Z-Boy a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting La-Z-Boy’s revenue to be flat year on year, slowing from the 3.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. La-Z-Boy has a history of exceeding Wall Street’s expectations.
Looking at La-Z-Boy’s peers in the consumer discretionary - home furnishings segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Lovesac posted flat year-on-year revenue, beating analysts’ expectations by 1.2%, and Somnigroup reported revenues up 12.3%, falling short of estimates by 1.6%. Lovesac traded down 1.1% following the results while Somnigroup was also down 11.8%.
Read our full analysis of Lovesac’s results here and Somnigroup’s results here.
There has been positive sentiment among investors in the consumer discretionary - home furnishings segment, with share prices up 9.9% on average over the last month. La-Z-Boy is up 11% during the same time and is heading into earnings with an average analyst price target of $44.50 (compared to the current share price of $38.36).
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