La-Z-Boy Inc (LZB) reported a profit for third quarter that decreased from the same period last year and missed the Street estimates.
The company's bottom line totaled $28.6 million, or $0.66 per share. This compares with $31.7 million, or $0.74 per share, in last year's third quarter.
Excluding items, La-Z-Boy Inc reported adjusted earnings of $29.01 million or $0.67 per share for the period.
Analysts on average had expected the company to earn $0.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 12.6% to $500.4 million from $572.7 million last year.
La-Z-Boy Inc earnings at a glance (GAAP) :
-Earnings (Q3): $28.6 Mln. vs. $31.7 Mln. last year.-EPS (Q3): $0.66 vs. $0.74 last year.-Analyst Estimates: $0.72-Revenue (Q3): $500.4 Mln vs. $572.7 Mln last year.
-Guidance:Next quarter revenue guidance: $505-$535 Million
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.