Legget & Platt: 2Q Earnings Snapshot
CARTHAGE, Mo. (AP) _ Leggett & Platt Inc. (LEG) on Monday reported second-quarter profit of $86.2 million.
The Carthage, Missouri-based company said it had net income of 64 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The engineered component manufacturer posted revenue of $1.21 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.28 billion.
Legget & Platt expects full-year earnings in the range of $2.40 to $2.60 per share, with revenue in the range of $4.7 billion to $4.85 billion.
Legget & Platt shares have climbed roughly 9% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 21%. In the final minutes of trading on Monday, shares hit $38.94, a decline of 12% in the last 12 months.