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La-Z-Boy Inc Down 0.93% To $27.20 After Earnings Beat

Wednesday, June 21, 2023 11:26 AM | InvestorsObserver Analysts

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La-Z-Boy Inc Down 0.93% To $27.20 After Earnings Beat

La-Z-Boy Inc (LZB) said after close Tuesday that it earned $0.99 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $561.3 million, beating estimates by $28.3 million.

In the same quarter a year ago, the company earned $1.07 per share on revenue of $684.6 million.

The stock is down 0.93% to $27.20 after the report.

La-Z-Boy Inc's revenues declined at a faster pace than earnings.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

Trading in the five days leading up to the report earned La-Z-Boy Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 35. Meanwhile, the average Wall Street analyst rated the stock a Hold.

La-Z-Boy Inc is a U.S.-based company that manufactures, distributes, and retails upholstery furniture products. It is a producer of reclining chairs and distributors of residential furniture in the U.S. The company chiefly operates in the United States but also has secondary operations in Canada and other countries. The company's reportable segments include the Wholesale segment, which manufactures and imports upholstered furniture; and Retail, which sells upholstered and case goods furniture to the end consumer. The majority of the company's revenue is derived from its Wholesale segment. Some of the core brands of the firm include England, Kincaid, American Drew, and Hammary.

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