FX.co ★ Leggett & Platt Inc. Reveals Decline In Q1 Bottom Line, misses estimates

Leggett & Platt Inc. (LEG) recently released its first-quarter profit report, which showed a decline compared to the same period last year and fell short of expert predictions.

In total, the company reported earnings of $31.6 million, amounting to $0.23 per share. This indicates a downturn when compared with last year's first-quarter total of $53.5 million, equivalent to $0.39 per share.

Market analysts had projected an average company earnings of $0.24 per share. These estimates, compiled by Thomson Reuters, usually disregard special items.

Leggett & Platt Inc.'s revenue for this quarter also saw a decrease of 9.1%, falling from $1.21 billion last year to $1.10 billion.

Discussing the results in greater detail, the company reported the following first quarter GAAP figures: Earnings were $31.6 million as opposed to $53.5 million last year. EPS was $0.23, down from last year's $0.39. The revenue of $1.10 billion was lower than the $1.21 billion reported for the same period last year.

The company projected the following full-year guidance: EPS is expected to fall between $1.05 and $1.35, while the full-year revenue is anticipated to be between $4.35 billion and $4.65 billion.