La-Z-Boy's stock experienced a significant after-hours plunge of 5.09% following the release of its third-quarter financial results.

The furniture maker reported adjusted earnings per share of $0.61 for the quarter, missing the analyst consensus estimate of $0.65. This also represents a decrease from the $0.68 per share earned in the same period last year. While quarterly sales of $541.6 million slightly exceeded expectations, the earnings miss and year-over-year decline appear to have disappointed investors.

Additionally, the company maintained a cautious view in its fourth-quarter outlook, citing macroeconomic challenges and the short-term impact of recent adverse weather events. La-Z-Boy expects Q4 revenue between $560 million and $580 million, which may be below some analyst projections.