NYSE$LZB
La-Z-Boy Incorporated · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
La-Z-Boy reported strong second quarter results, with La-Z-Boy Furniture Galleries® network written same-store sales up 1% and a dividend increase of 10%.
La-Z-Boy Incorporated reported sales of $511 million, a decrease of 16% compared to the previous year. GAAP diluted EPS was $0.63, and Non-GAAP diluted EPS was $0.74. The La-Z-Boy Furniture Galleries® network written same-store sales increased by 1%.
- La-Z-Boy Furniture Galleries® network written same-store sales increased 1%.
- GAAP diluted EPS of $0.63; Non-GAAP diluted EPS of $0.74.
- Year to date operating cash flow of $57 million, 84% above year ago period.
- Dividend increased 10% over the prior dividend to $0.20 per share.
Headline financials
Revenue & EPS history
La-Z-Boy · Revenue · Quarterly
$511M
Revenue by segment
La-Z-Boy · $616M total across 3 segments · Q2 2024
- Wholesale Segment$365M-18.2%59.3%
- Retail Segment$214M-15.0%34.8%
- Corporate and Other$36.2M-17.0%5.9%
Forward guidance
La-Z-Boy anticipates consumer trends for the industry to remain challenging and is planning for sales in the third quarter of fiscal 2024 to be relatively consistent with the second quarter. They expect third quarter Non-GAAP operating margin to be similar to the first half of the year, forecasting sales to be in the range of $515-535 million and Non-GAAP operating margin to be in the range of 7-8%.
Headwinds
- Consumer trends for the industry are expected to remain challenging.
- Sales in the third quarter of fiscal 2024 are expected to be relatively consistent with the second quarter.
- Consumer traffic trends remain a headwind.
- Soft home furniture industry.
- Weakness in near-term industry traffic trends
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
+2.0%
Avg return
Earnings day
+0.5%
Avg return
5 days after
-1.1%
Avg return
30 days after
53%
35 / 66 earnings
Positive
+21.8%
Q2 2012
Best reaction
-19.9%
Q1 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +15.3% | +13.4% | — | |
| Q3 2026 | -6.8% | -7.0% | -16.8% | |
| Q2 2026 | +20.2% | +24.7% | +33.1% | |
| Q1 2026 | -12.1% | -6.4% | -13.8% | |
| Q4 2025 | -2.3% | -5.6% | -4.9% | |
| Q3 2025 | +4.0% | -0.7% | -15.2% | |
| Q2 2025 | +0.0% | +2.1% | -0.6% | |
| Q1 2025 | -5.8% | -4.0% | +2.4% | |
| Q4 2024 | +20.7% | +12.4% | +26.5% | |
| Q3 2024 | -5.1% | -2.9% | -2.2% | |
| Q2 2024 | +11.9% | +15.4% | +17.4% | |
| Q1 2024 | -2.8% | -4.1% | +3.1% | |
| Q4 2023 | +0.0% | +1.1% | +15.4% | |
| Q3 2023 | +9.7% | +13.8% | -2.1% | |
| Q2 2023 | -6.3% | -8.2% | -14.2% | |
| Q1 2023 | +3.1% | -3.9% | -16.6% | |
| Q4 2022 | +5.7% | +8.5% | +17.1% | |
| Q3 2022 | -15.0% | -18.8% | -17.5% | |
| Q2 2022 | -6.8% | -2.9% | -2.8% | |
| Q1 2022 | -5.8% | -1.6% | -7.0% | |
| Q4 2021 | -12.1% | -13.4% | -18.8% | |
| Q3 2021 | -7.7% | -4.6% | +8.5% | |
| Q2 2021 | +5.1% | +4.6% | +7.1% | |
| Q1 2021 | +1.0% | -0.9% | -0.4% | |
| Q4 2020 | -1.3% | -5.4% | +3.1% | |
| Q3 2020 | +2.1% | +4.1% | -44.2% | |
| Q2 2020 | -15.3% | -11.0% | -14.4% | |
| Q1 2020 | -5.8% | -0.8% | +2.2% | |
| Q4 2019 | +7.3% | -10.2% | -6.7% | |
| Q3 2019 | +14.6% | +14.3% | +4.1% | |
| Q2 2019 | +5.9% | +5.5% | -2.6% | |
| Q1 2019 | +15.6% | +2.8% | -0.6% | |
| Q4 2018 | -4.2% | -10.1% | -2.3% | |
| Q3 2018 | +9.1% | +10.7% | +1.4% | |
| Q2 2018 | +12.7% | +14.9% | +6.8% | |
| Q1 2018 | -19.9% | -22.6% | -18.9% | |
| Q4 2017 | +17.4% | +18.5% | +19.4% | |
| Q3 2017 | -2.4% | -7.9% | -5.0% | |
| Q2 2017 | +3.1% | +11.4% | +13.9% | |
| Q1 2017 | -9.6% | -10.0% | -13.2% | |
| Q4 2016 | +5.2% | +5.0% | +14.0% | |
| Q3 2016 | +17.0% | — | — | |
| Q2 2016 | -0.1% | — | — | |
| Q1 2016 | +2.1% | — | — | |
| Q4 2015 | -1.8% | — | — | |
| Q3 2015 | -5.5% | — | — | |
| Q2 2015 | +5.5% | — | — | |
| Q1 2015 | -3.8% | — | — | |
| Q4 2014 | -3.3% | — | — | |
| Q3 2014 | -3.5% | — | — | |
| Q2 2014 | +10.1% | — | — | |
| Q1 2014 | +7.6% | — | — | |
| Q4 2013 | +3.7% | — | — | |
| Q3 2013 | +11.7% | — | — | |
| Q2 2013 | -10.9% | — | — | |
| Q1 2013 | -1.7% | — | — | |
| Q4 2010 | -11.8% | — | — | |
| Q4 2012 | -11.8% | — | — | |
| Q3 2011 | -0.9% | — | — | |
| Q3 2012 | -0.9% | — | — | |
| Q2 2011 | +21.8% | — | — | |
| Q2 2012 | +21.8% | — | — | |
| Q1 2012 | +8.5% | — | — | |
| Q4 2011 | +8.5% | — | — | |
| Q1 2011 | +7.0% | — | — | |
| Q3 2010 | +18.8% | — | — |
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