La-Z-Boy posts record Q2 sales $611M, EPS $1.07; guides Q3 sales $525-535M; raises dividend 10%

LA-Z-BOY INC

2023-Q2 EPS reported $1.96 revenue$1,215,423,000

GAAP EPS $1.07 (+20% YoY), revenue $611M (+6%), both record second-quarter results.
Retail segment sales record $252M (+31%), same-store written sales down 10% due to weaker demand.
Board raises quarterly dividend 10% to $0.1815/share; payable Dec 20 to holders of record Dec 12.
Q3 guidance: delivered sales $525-535M, non-GAAP op margin 7.0-7.5%, citing demand headwinds.
Ended quarter with $208M cash, no debt; YTD returned $19M to shareholders via dividends and buybacks.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LA-Z-BOY INC reported the fiscal quarter ended October 29, 2022 results: revenue $ 611,332, net income 46,077, EPS $ 1.07.

Period: the fiscal quarter ended October 29, 2022
Revenue: $ 611,332
Net income: 46,077
EPS: $ 1.07
Result: reported results

Exact text from the filing

Key Results: Quarter Ended (Unaudited, amounts in thousands, except per share data) 10/29/2022 10/23/2021 Change Sales $ 611,332 $ 575,889 6% GAAP operating income 61,883 54,113 14% Non-GAAP operating income 61,146 51,595 19% GAAP operating margin 10.1% 9.4% 70 bps Non-GAAP operating margin 10.0% 9.0% 100 bps GAAP net income attributable to La-Z-Boy Incorporated 46,077 39,516 17% Non-GAAP net income attributable to La-Z-Boy Incorporated 45,357 37,896 20% Diluted weighted average common shares 43,182 44,423 GAAP diluted earnings per share $ 1.07 $ 0.89 20% Non-GAAP diluted earnings per share $ 1.05 $ 0.85 24%

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Source: SEC EDGAR

accession 0000057131-22-000112

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