NYSE$LZB
La-Z-Boy Incorporated · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
La-Z-Boy's Q4 2020 earnings were impacted by COVID-19, with sales and earnings affected by retail closures and production shutdowns.
La-Z-Boy's Q4 2020 sales decreased by 19.1% to $367.3 million due to COVID-19 impacts, which were partially offset by a one-time rebate of previously paid China tariffs. GAAP EPS was $0.05, while non-GAAP EPS was $0.49. The company responded to the pandemic with a decisive action plan by temporarily furloughing 70% of their workforce and dramatically reducing all other cash expenditures to preserve liquidity.
- Consolidated sales decreased 19.1% to $367.3 million due to the COVID-19 pandemic.
- GAAP diluted EPS was $0.05, while non-GAAP diluted EPS was $0.49.
- The company generated $44.5 million in cash from operating activities.
- La-Z-Boy closed its Newton, Mississippi manufacturing facility and reduced its global workforce by approximately 10%.
Headline financials
Revenue & EPS history
La-Z-Boy · Revenue · Quarterly
$367M
Revenue by segment
La-Z-Boy · $158M total across 2 segments · Q4 2020
- Retail Segment$140M-8.0%88.3%
- Corporate and Other$18.6M—11.7%
Forward guidance
La-Z-Boy is seeing strong early demand as furniture retailers and La-Z-Boy Furniture Galleries® stores have reopened. Manufacturing facilities have ramped from zero production at the end of April and are moving toward 80% of prior-year production as we head into July.
Tailwinds
- Strong early demand as retailers and La-Z-Boy Furniture Galleries® stores have reopened
- Manufacturing facilities have ramped up production
- The company has a solid cash position
- Successful management through the early stages of the crisis
- Potential for market share gains as the demand environment improves
Headwinds
- The trajectory of sales and earnings growth for the last two months of the year were significantly impacted by COVID-19 and mandated retail closures across North America.
- Majority of retailers, including company-owned La-Z-Boy Furniture Galleries® stores, closed for at least the last four weeks of our quarter, and most closures extended into the first quarter of fiscal 2021.
- The company temporarily closed the majority of our manufacturing operations, and managed all other expenses, including temporarily furloughing 70% of our workforce and dramatically reducing all other cash expenditures to preserve liquidity.
- Decision to permanently close Newton, Mississippi manufacturing facility
- Reduction of the global workforce by approximately 10%
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 Q4 2020
+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% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro