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Investor Alert

Nov. 20, 2019, 4:50 p.m. EST

La-Z-Boy stock falls on earnings miss

La-Z-Boy Inc. (NYS:LZB) shares dropped in the extended session Wednesday after the furniture maker's results fell short of Wall Street expectations. La-Z-Boy shares fell 8.1% after hours, following a 0.9% decline in the regular session to close at $36.18. The company reported fiscal second-quarter net income of $22.6 million, or 48 cents a share, compared with $20 million, or 42 cents a share, in the year-ago period. Adjusted earnings were 52 cents a share. Revenue rose to $447.2 million from $439.3 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 55 cents a share on revenue of $454.4 million.

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