Furniture maker La-Z-Boy is set to report its second-quarter results on Tuesday after markets close, with analysts forecasting a 1% year-on-year revenue decline to $490.4 million, according to Yahoo Finance. Adjusted earnings per share are projected at $0.53.
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The guidance contrasts with last year's same-quarter performance, when revenue grew 2.9%. In the previous quarter, La-Z-Boy posted $570.9 million in sales, up 3.1% year-on-year, exceeding analyst expectations by 2.2% and delivering stronger-than-forecast adjusted operating income. Over the past two years, the company has missed revenue estimates twice.
Sector peers have shown mixed performance. Mattress maker Purple reported a 12.6% sales drop, in line with forecasts, while Mohawk Industries posted flat revenue but beat estimates by 2.2%.
Market sentiment remains cautiously positive. The home furnishings segment has recorded a 2.6% average share price gain in the past month, while La-Z-Boy's stock rose 4.9% to $39.49. However, this remains below the average analyst target price of $46, reflecting tempered expectations ahead of the earnings release.
