Latest Stock value to market: La-Z-Boy Incorporated (NYSE: LZB)

On Thursday, La-Z-Boy Incorporated (NYSE: LZB) stock recorded daily change of 0.07% to close at $28.4 with the total traded volume of 214869 shares along average volume of 368032 shares. 52-week range of the stock remained $ 15.61 – 37.48 while its day low price was $28.12 and it hit its day high price at $28.86. Its previous closing value stands at $28.38.

La-Z-Boy Incorporated (LZB) recently stated its operating results for the fiscal 2020 fourth quarter and full year ended April 25, 2020.

Fiscal 2020 full year versus Fiscal 2019 full year:

  • Consolidated sales reduced 2.4% to $1.70B, reflecting ten months of strength and two months of dramatic temporary impact from the COVID-19 pandemic
  • Consolidated operating margin:

GAAP: 7.0% versus 7.4%

Non-GAAP*: 8.2% versus 7.8%

  • Upholstery: 10.8% versus 10.1%
  • Retail: 8.2% versus 6.9%
  • Net income attributable to La-Z-Boy Incorporated per diluted share (“EPS”):

GAAP: $1.66 versus $1.44

Non-GAAP*: $2.16 versus $2.14

  • Cash generated from operating activities increased 9.0% to $164.2M
  • The company returned $68.4M to shareholders through share purchases and dividends
  • Cash, cash equivalents, and restricted cash were $263.5M at year end, including $75.0M in cash proactively drawn on the company’s credit facility, and the company held $28.6M in investments to enhance returns on cash, up from $131.8M in cash, cash equivalents and restricted cash, and $31.5M in investments to enhance returns on cash at the end of fiscal 2019.

Balance Sheet and Cash Flow

For the fourth quarter, the company generated $44.5M in cash from operating activities.  La-Z-Boy ended the quarter with $263.5M in cash, cash equivalents, and restricted cash, including $75M in cash proactively drawn on the company’s credit facility to enhance liquidity in response to COVID-19, and $28.6M in investments to enhance returns on cash contrast with $131.8M in cash, cash equivalents and restricted cash, and $31.5M in investments to enhance returns on cash at the end of fiscal 2019. During the period, the company invested $10.6M in the business through capital expenditures. The company paid $6.5M in dividends and spent $8.0M purchasing 0.3M shares of stock in the open market under its existing authorized share purchase program during the fourth quarter.  For the full fiscal 2020 year, the company paid $25.1M in dividends and spent $43.4M purchasing 1.4M shares, leaving 4.5M shares of purchase availability in the program.

The company has 1.33B of outstanding shares and 45.96M shares were floated in the market. LZB has a gross margin of 42.30% and an operating margin of 6.70% while its profit margin remained 4.50% for the last 12 months. Its earnings per share (EPS) expected to touch remained 14.60% for this year while earning per share for the next 5-years is expected to reach at 7.80%.

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