Leggett & Platt Reports $.63 EPS, A First Quarter Record
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Leggett & Platt (LEG) Tops Q1 EPS by 8c
April 28, 2016 4:52 PM EDTLeggett & Platt (NYSE: LEG) reported Q1 EPS of $0.63, $0.08 better than the analyst estimate of $0.55. Revenue for the quarter came in at $938 million versus the consensus estimate of $960.42 million.
Outlook
With strong first quarter earnings, the company is raising EPS guidance by $.10. For 2016, EPS from continuing operations is now expected to be $2.40 to $2.60. The new accounting standard for stock-based compensation resulted in a tax-related first quarter EPS benefit of $.04, but is expected to have a much smaller impact on each of the remaining quarters of 2016. Accordingly, this... More
