Why La-Z-Boy's Q1 2021 Earnings Beat Even the Most Optimistic Forecast
Famous recliner maker and manufacturer of other furniture La-Z-Boy (NYSE: LZB) posted its first quarter 2020 results today after market close. While its sales missed by approximately $4.5 million, coming in at $285.5 million rather than the consensus $290 million reported by FactSet, its adjusted earnings per share (EPS) registered at $0.18 per share, beating analyst consensus of a -$0.13 loss per share by $0.31.
The company's earnings outshone even the highest analyst estimate used to calculate the consensus average. Results were still down year over year because of coronavirus-related retail closures, with revenues down -31% compared to fiscal first quarter 2020. EPS, though better than expected, still declined -57%.
Image source: Getty Images.
Source Fool.com
