LZB
La-Z-Boy Incorporated39.71
+0.16+0.41%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q3 '26
Positive trends amid weather timing
Q&A clarified choppy trends with January same-store sales turning positive before weather disruptions, followed by strong President's Day into Q4—timing shifts, not lost demand. Guidance embeds macro caution plus traffic deleveraging, but 75-100bps margin gains from initiatives should flow through unimpeded. Management spotlighted wholesale growth via new partners Farmers and Living Spaces, deepening ties without brand dilution. Joybird faces persistent urban volatility, spurring rightsizing for profitability; U.K. plant exit accelerates DFS ramp-up. Answers reaffirmed prepared remarks. Trends flickered positive. Investors eye traffic durability.
Key Stats
Market Cap
1.64BP/E (TTM)
18.38Basic EPS (TTM)
2.16Dividend Yield
0.02%Recent Filings
10-Q
Q3 FY2026 results
La-Z-Boy posted Q3 FY2026 sales of $541.6M, up 3.8% y/y, yet operating income fell 15.2% to $29.8M as gross margin slipped 1.2 points to 43.1% from UK severance and Casegoods inventory impairment. Retail surged 10.7% y/y on acquisitions, while Wholesale held steady; diluted EPS dropped to $0.52 from $0.68, confirmed vs. 41.5M shares. Closed Oct 2025 $90.2M acquisition of 15 Atlanta/Florida/Tennessee stores for $85.8M cash, recognizing $57.6M goodwill and $28.3M indefinite-lived rights. Cash sits at $306.1M with $200M revolver undrawn to July 2030; OCF hit $175.7M YTD. Acquisitions fuel growth. Soft demand lingers.
8-K
Q3 sales up 4%, Retail surges
La-Z-Boy reported Q3 fiscal 2026 sales of $542 million, up 4% year-over-year, powered by 11% Retail delivered sales growth from new and acquired stores. GAAP operating margin dipped to 5.5% amid transformation costs, yet cash flow surged 57% to $89 million. Retail drives momentum. Q4 outlook: sales $560-580 million, adjusted margin 7.5-9.0%.
8-K
Boor joins La-Z-Boy board
La-Z-Boy expanded its board to 10 members by electing William C. Boor, Cavco Industries' President and CEO, effective December 8, 2025. Boor, with expertise in factory-built housing and supply chain oversight, joins as an independent director on the Audit Committee. Board Chair Melinda Whittington praised his growth track record. He gets $96,165 in restricted stock units.
10-Q
Q2 FY2026 results
La-Z-Boy held sales steady at $522.5M in Q2 FY2026 ended October 25, 2025, up 0.3% y/y yet down slightly from Q1's $492.2M (derived), while operating income slipped 6.7% y/y to $36.2M amid higher distribution costs, gross margin off 10bps to 44.2%. Wholesale drove gains with 18.5% y/y operating income growth to $29.1M on pricing strength, but Retail margins contracted to 10.7% from fixed cost leverage on softer same-store sales; Corporate and Other lost more on Joybird volume dip. Cash swelled to $338.5M with $86.3M YTD operating cash flow, no debt on $200M facility maturing 2030. Assets held for sale flagged $29.4M casegoods portion. Atlanta-area stores acquisition closed October 28 for $85.5M cash. Competition shadows retail expansion.
8-K
Solid Q2; key acquisition done
La-Z-Boy posted Q2 sales of $522M, up 0.3% year-over-year, with GAAP operating margin at 6.9% and adjusted EPS steady at $0.71. Completed its largest retail acquisition of 15 southeast U.S. stores, adding ~$80M annual sales ($40M net), while announcing exits from non-core casegoods/upholstery and UK facility, trimming $30M net sales but lifting margins 75-100 bps. Cash flow tripled to $50M. Q3 sales eyed at $525-545M.
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