FINWIRES · TerminalLIVE
FINWIRES

Update: La-Z-Boy Q4 Earnings Rise While Revenue Touch Lower; Sets Q1 Sales Guidance; Shares Jump Pre-Bell

By

(Updates with the stock move in the headline and the first paragraph.)

La-Z-Boy's (LZB) shares jumped over 19% in premarket activity Wednesday after the company reported overnight fiscal Q4 adjusted earnings of $1.26 per diluted share, up from $0.92 a year earlier.

Analysts polled by FactSet expected $0.82.

Revenue for the quarter ended April 25 fell to $570.3 million from $570.9 million a year earlier.

Analysts expected $569.2 million.

The company expects Q1 revenue of $490 million to 510 million. Analysts expect $495.4 million.

The company said late Tuesday that a new share buyback program, with up to $300 million in repurchases and replacing the prior program, was authorized in April.

Price: $41.94, Change: $+6.88, Percent Change: +19.62%

Related Articles

Wire

Top Cryptocurrencies Lower; Bitcoin Falls Below $66,000 Level

Major digital assets were weaker Tuesday, with Bitcoin (BTC-USD) falling below the $66,000 level.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, fell almost 2.3% in the past 24 hours. The Nasdaq 100 fell 1.7%, the S&P 500 declined 0.5%, and the Dow Jones Industrial Average increased 0.7%.Bitcoin fell 1.5% to $65,538, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume dropped 30.9% to $26.1 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, dropped 1.6% to $1,794.XRP (XRP-USD) shed 4.5%, BNB (BNB-USD) lost 2.2%, and Solana (SOL-USD) decreased 1.6%. Dogecoin (DOGE-USD) fell 1.7%, while Cardano (ADA-USD) declined 6.6%.The US 10-year Treasury yield stood at 4.426% at 3 p.m. ET Tuesday, down from 4.469% Monday, while the five-year yield fell to 4.149% from 4.186%.The total market value of the cryptocurrency industry fell 1.5% in the past 24 hours to $2.25 trillion, with trading volume declining 20.6% to $78.55 billion.Price: $65544.28, Change: $-743.20, Percent Change: -1.12%

$ADA-USD$BNB-USD$BTC-USD$DOGE-USD$ETH-USD$SOL-USD$XRP-USD
Wire

Thor Industries Keeps Quarterly Dividend at $0.52 a Share, Payable July 15 to Holders of Record July 1

Thor Industries Keeps Quarterly Dividend at $0.52 a Share, Payable July 15 to Holders of Record July 1

$THO
Wire

Sector Update: Consumer

Consumer stocks edged up late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each fractionally higher.In corporate news, Rivian Automotive (RIVN) laid off hundreds of employees, or under 2% of its workforce, Tuesday, the Wall Street Journal reported, citing a company spokesperson. The layoffs affected workers in the electric-vehicle maker's service and customer organization, the report said. Rivian shares fell 4.3%.

$RIVN