La-Z-Boy reported adjusted first-quarter earnings of $0.43 per share, missing analyst expectations by $0.06, while revenue totaled $476 million, below the consensus estimate of $495.45 million.
The furniture manufacturer’s adjusted EPS fell short despite a 11.43% gain in its stock price over the past three months. Over the last 12 months, shares have risen 4.42%, closing at $40.84 on Tuesday.
La-Z-Boy’s revenue decline of 3.9% reflected softer demand in its core upholstery segment, which has faced pressure from elevated interest rates and cautious consumer spending. The company’s outlook for the second quarter calls for revenue between $500 million and $520 million, well below the $536.80 million consensus estimate.
Analysts have revised La-Z-Boy’s earnings estimates downward in recent months, with no positive revisions recorded over the past 90 days and two negative adjustments. Despite the shortfall, InvestingPro assigned the company a financial health score characterized as "good performance."
