10-K · June 16, 2026
La-Z-Boy's 10-K reveals strategic endeavors focused on expanding its consumer brands and enhancing operational efficiency ahead of its centennial. Despite slight growth in overall sales at 1% to $2.12 billion in fiscal…
Earnings analysis · 10-Q
LZB earnings analysis
Filed August 18, 2026 · Our reading of the company's report
The latest report
La-Z-Boy's first-quarter results were weaker than expected, with $475.7 million of revenue below the $501.1 million consensus estimate and GAAP diluted EPS of $(0.06) versus the $0.49 estimate. Wholesale weakness pushed…
Read full summary
La-Z-Boy's first-quarter results were weaker than expected, with $475.7 million of revenue below the $501.1 million consensus estimate and GAAP diluted EPS of $(0.06) versus the $0.49 estimate. Wholesale weakness pushed adjusted operating margin down to 3.9% from 4.8%, although Retail momentum and a higher fiscal Q2 sales outlook of $500 million-$520 million provided offsets. The Company also repurchased $25.1 million of stock and had $291.2 million remaining under its $300 million authorization.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.06
- Operating margin
- 3.9%
What stood out
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Revenue and GAAP EPS missed estimates
Revenue was $475.7 million, below the $501.1 million consensus estimate, while GAAP diluted EPS was $(0.06) versus the $0.49 estimate. Adjusted EPS was $0.43.
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Retail momentum offset by Wholesale weakness
Consolidated adjusted operating margin declined to 3.9% from 4.8%, primarily reflecting weakness in Wholesale. Retail sales and same-store sales showed momentum.
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Fiscal Q2 sales outlook raised
Fiscal Q2 sales guidance was raised to $500 million-$520 million from $490 million-$510 million, a $10 million increase at both the low and high ends.
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Share repurchases increased
The Company spent $25.1 million to repurchase 0.7 million shares during fiscal Q1 2027. The new authorization permits up to $300 million of repurchases and had $291.2 million remaining as of July 25, 2026.
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Disclosure controls remained effective
The filing states that disclosure controls and procedures were effective as of the end of the period, and that there were no changes in internal controls reasonably likely to materially affect reporting.
What to watch
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Wholesale weakness pressured profitability
Wholesale weakness reduced consolidated adjusted operating margin to 3.9% from 4.8%, while revenue of $475.7 million missed the $501.1 million consensus estimate.
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Significant gap between GAAP and adjusted EPS
GAAP diluted EPS was $(0.06), compared with the $0.49 estimate, despite adjusted EPS of $0.43. The gap indicates material charges or other adjustments affected reported earnings.
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Large remaining buyback authorization
The Company repurchased $25.1 million of stock while retaining $291.2 million of authorization under the new $300 million program. Continued repurchases could reduce liquidity available for operations or investment if business conditions weaken.
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No material risk-factor updates
The filing reports no material changes to the risk factors disclosed in the fiscal 2026 Form 10-K during the first quarter of fiscal 2027; therefore, existing macroeconomic, demand, supply-chain, and execution risks remain applicable.
Management's outlook
The accompanying earnings disclosure raised fiscal Q2 sales guidance to $500 million-$520 million from $490 million-$510 million. Adjusted operating margin guidance was 4.0%-5.5%, and enterprise sales growth excluding the casegoods divestiture was expected at -1% to 2%; the supplied 10-Q text does not provide separate numeric guidance.
Earlier filings 4
10-Q · February 17, 2026
La-Z-Boy reported strong Q3 results for fiscal 2026, with revenue of $541.6 million, surpassing expectations and reflecting a 3.8% increase year-over-year. While EPS also beat projections at $0.61, the company…
10-Q · November 18, 2025
La-Z-Boy's second quarter results for FY2026 showed slight revenue growth with $522.5 million, up 0.3% from the previous year. Despite a notable increase in EPS to $0.71, the operating income fell by 6.7% to $36.2…
10-Q · August 19, 2025
La-Z-Boy's Q1 FY2026 results showed a slight decline in revenue and profitability compared to the prior year, driven by lower international wholesale sales and a challenging retail environment. The company reported…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.