Leggett & Platt (LEG) Misses Q3 EPS by 10c, Revenues Miss; Reduces FY18 EPS Outlook Below Consensus
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Leggett & Platt Reports 8% Sales Growth And $.67 EPS
October 25, 2018 4:04 PM EDTCARTHAGE, Mo., Oct. 25, 2018 /PRNewswire/ --
3Q sales were $1.09 billion, an 8% increase versus 3Q 2017; volume up 3% 3Q EPS was $.67, a $.06 increase versus 3Q 2017 Reducing 2018 EPS guidance to $2.40-$2.50; expect approx. $4.25 billion of salesDiversified manufacturer Leggett & Platt reported third quarter sales of $1.09 billion, an increase of 8% versus third quarter 2017. Â Organic sales grew 6%, with volume up 3%. Sales growth in U.S. Spring, Automotive, Adjustable Bed, Aerospace, Steel Rod and Work Furniture was partially offset by soft demand in most other businesses. Raw material-related selling price increases, partially offset by currency impact, added 3%.... More
