$LZB

LA-Z-BOY INC

CIK:0000057131|SEC Filings

CONSOLIDATED STATEMENT OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 25, 2026	Jul. 26, 2025
Income Statement [Abstract]
Sales	$ 475,689	$ 492,229
Cost of sales	267,025	283,032
Gross profit	208,664	209,197
Selling, general and administrative expense	210,768	187,210
Operating income (loss)	(2,104)	21,987
Interest expense	(217)	(120)
Interest income	2,933	3,108
Other income (expense), net	(4,273)	(585)
Income (loss) before income taxes	(3,661)	24,390
Income tax expense (benefit)	(1,677)	6,093
Net income (loss)	(1,984)	18,297
Net income attributable to noncontrolling interests	(308)	(93)
Net income (loss) attributable to La-Z-Boy Incorporated	$ (2,292)	$ 18,204
Basic weighted average common shares (in shares)	39,995	41,027
Basic net income (loss) attributable to La-Z-Boy Incorporated per share (in dollars per share)	$ (0.06)	$ 0.44
Diluted weighted average common shares (in shares)	39,995	41,425
Diluted net income (loss) attributable to La-Z-Boy Incorporated per share (in dollars per share)	$ (0.06)	$ 0.44

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jul. 25, 2026	Jul. 26, 2025
Cash flows from operating activities
Net income (loss)	$ (1,984)	$ 18,297
Adjustments to reconcile net income to cash provided by operating activities
(Gain) loss on disposal and impairment of assets	7,120	(92)
(Gain) loss on sale of investments	(1,500)	(94)
Provision for doubtful accounts	220	129
Depreciation and amortization	12,692	11,329
Amortization of right-of-use lease assets	23,048	20,234
Lease impairment	4,670	0
Equity-based compensation expense	2,927	3,420
Change in deferred taxes	1,577	1,075
Change in receivables	12,763	8,498
Change in inventories	(12,241)	3,637
Change in other assets	(17,523)	(4,805)
Change in payables	15,000	4,653
Change in lease liabilities	(22,755)	(20,230)
Change in other liabilities	(8,366)	(9,759)
Net cash provided by operating activities	15,648	36,292
Cash flows from investing activities
Proceeds from disposals of assets	7,509	170
Capital expenditures	(23,284)	(18,461)
Purchases of investments	(44)	(117)
Proceeds from sales of investments	18,483	216
Acquisitions	(15,650)	(627)
Net cash used for investing activities	(12,986)	(18,819)
Cash flows from financing activities
Payments on finance lease liabilities	(219)	(225)
Payments for debt issuance costs	0	(784)
Stock issued for stock and employee benefit plans, net of shares withheld for taxes	(3,075)	(5,190)
Repurchases of common stock	(25,144)	(12,505)
Dividends paid to shareholders	(9,672)	(9,012)
Net cash used for financing activities	(38,110)	(27,716)
Effect of exchange rate changes on cash and equivalents	(511)	338
Change in cash and cash equivalents	(35,959)	(9,905)
Cash and cash equivalents at beginning of period	303,213	328,449
Cash and cash equivalents at end of period	267,254	318,544
Supplemental disclosure of non-cash investing activities
Capital expenditures included in payables	$ 4,866	$ 6,233

CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jul. 25, 2026	Apr. 25, 2026
Current assets
Cash and equivalents	$ 267,254	$ 303,213
Receivables, net of allowance of $4,931 at 7/25/2026 and $5,196 at 4/25/2026	118,190	131,039
Inventories, net	234,267	218,445
Assets held for sale	0	20,209
Other current assets	126,704	101,008
Total current assets	746,415	773,914
Property, plant and equipment, net	369,497	356,717
Goodwill	243,196	243,300
Other intangible assets, net	82,110	77,582
Right of use lease assets	492,769	520,726
Other long-term assets, net	60,687	70,096
Total assets	1,994,674	2,042,335
Current liabilities
Accounts payable	113,049	101,875
Lease liabilities, short-term	89,354	88,762
Accrued expenses and other current liabilities	245,969	239,258
Total current liabilities	448,372	429,895
Lease liabilities, long-term	452,157	475,526
Other long-term liabilities	68,398	74,240
Shareholders' equity
Preferred shares – 5,000 authorized; none issued	0	0
Common shares, $1.00 par value – 150,000 authorized; 40,052 outstanding at 7/25/2026 and 40,349 outstanding at 4/25/2026	40,052	40,349
Capital in excess of par value	403,247	400,752
Retained earnings	570,690	610,423
Accumulated other comprehensive loss	(729)	(1,527)
Total La-Z-Boy Incorporated shareholders' equity	1,013,260	1,049,997
Noncontrolling interests	12,487	12,677
Total equity	1,025,747	1,062,674
Total liabilities and equity	$ 1,994,674	$ 2,042,335