Yahoo Finance La-Z-Boy Full Year 2024 Earnings: Beats Expectations
La-Z-Boy (NYSE:LZB) Full Year 2024 Results
Key Financial Results
Revenue: US$2.05b (down 13% from FY 2023).
Net income: US$122.6m (down 19% from FY 2023).
Profit margin: 6.0% (down from 6.4% in FY 2023). The decrease in margin was driven by lower revenue.
EPS: US$2.86 (down from US$3.49 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
La-Z-Boy Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 8.2%.
The primary driver behind last 12 months revenue was the Wholesale segment contributing a total revenue of US$1.45b (71% of total revenue). Notably, cost of sales worth US$1.16b amounted to 57% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$567.5m (74% of total expenses). Explore how LZB's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Consumer Durables industry in the US.
Performance of the American Consumer Durables industry.
The company's shares are up 16% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 1 warning sign for La-Z-Boy you should be aware of.
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