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Nov. 28, 2018, 5:14 p.m. EST

La-Z-Boy stock surges 11% after earnings beat, dividend increase

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By Max A. Cherney

La-Z-Boy Inc. /zigman2/quotes/202858913/composite LZB -3.00% shares surged 11.2% in the extended session Wednesday after the company beat earnings and revenue expectations and increased its dividend. The company reported fiscal second-quarter net income attributable to shareholders of $20 million, or 42 cents a share, compared with $22.9 million, or 47 cents a share, in the year-ago period. Adjusted for items such as accounting changes and other items, earnings were 48 cents a share. Revenue rose to $439.3 million from $393.2 million in the year-ago period. The four analysts surveyed by FactSet had estimated adjusted earnings of 44 cents a share on revenue of $434 million. La-Z-Boy also said it was increasing its dividend 8% to 13 cents a share. For the fiscal third quarter, analysts model earnings of 50 cents a share on sales of $456.5 million. La-Z-Boy stock has fallen 6.5% this year, with the S&P 500 index /zigman2/quotes/210599714/realtime SPX -3.37% rising 0.3%.

/zigman2/quotes/202858913/composite
US : U.S.: NYSE
$ 21.67
-0.67 -3.00%
Volume: 324,650
March 27, 2020 6:30p
P/E Ratio
13.24
Dividend Yield
2.58%
Market Cap
$997.54 million
Rev. per Employee
$190,182
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/zigman2/quotes/210599714/realtime
US : S&P US
2,541.47
-88.60 -3.37%
Volume: 3.59B
March 27, 2020 5:12p
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