La-Z-Boy Misses Q1 Earnings, Revenue Estimates, Issues Soft Guidance, Shares Tumble

La-Z-Boy Inc LZB shares are tanking on Tuesday after the company reported financial results for the first quarter of fiscal 2026 after the market close. Here's a rundown of the report.

See the continuing LZB story here.

Q1 Highlights: La-Z-Boy reported first-quarter revenue of $492.22 million, missing analyst estimates of $494 million, according to Benzinga Pro. The company reported first-quarter adjusted earnings of 47 cents per share, missing estimates of 55 cents per share.

Consolidated sales decreased 1% on a year-over-year basis. Total written sales for the retail segment were up 5% year-over-year, while written same-store sales fell 4% year-over-year, reflecting an “increasingly challenged consumer.”

La-Z-Boy said it ended the quarter with $319 million in cash and cash equivalents.

“Investments in our Century Vision strategy to grow our Retail store footprint and expand brand reach, combined with soft industry demand, had a downward impact on our margin performance this quarter, and we are actively taking steps to adjust our near-term operations and prudently navigate the current environment,” said Melinda Whittington, chair, president and CEO of La-Z-Boy.

“Our iconic brand, vertically integrated business model, and robust balance sheet are foundational to our continued strategic growth and position us to disproportionately benefit when industry tailwinds reemerge.”

Q2 Outlook: La-Z-Boy expects second-quarter revenue to be in the range of $510 million to $530 million versus estimates of $531.67 million. The company said its guidance reflects a “continued challenging consumer and macroeconomic environment.”

La-Z-Boy’s management team will discuss the quarter on an earnings call scheduled for 8:30 a.m. ET Wednesday morning.

LZB Price Action: La-Z-Boy shares were down 19.82% in after-hours, trading at $31.36 at the time of publication on Tuesday, according to Benzinga Pro.

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