La-Z-Boy Fiscal Q2 Non-GAAP Earnings Fall, Sales Rise; Q3 Sales Outlook Set; Dividend Raised

MT Newswires Live11-20

La-Z-Boy (LZB) reported fiscal Q2 non-GAAP diluted earnings late Tuesday of $0.71 per share, down from $0.74 a year earlier.

Three analysts surveyed by FactSet expected $0.64.

Sales for the quarter ended Oct. 26 were $521 million, up from $511.4 million a year earlier. Three analysts surveyed by FactSet expected $506 million.

The company expects fiscal Q3 sales of between $505 million and $525 million. Three analysts expect $512.3 million.

La-Z-Boy increased its quarterly dividend by 10% to $0.22 per share, payable on Dec. 16 to shareholders of record on Dec. 5.

The company's shares were up nearly 3% in recent after-hours activity.

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