Leggett & Platt Inc. (LEG) has announced its financial results for the third quarter, revealing a decline in profit compared to the same period last year, falling short of Wall Street's predictions. The company reported a net income of $44.9 million, translating to earnings of $0.33 per share. This is a decrease from the previous year's third-quarter earnings of $52.8 million, or $0.39 per share.
When adjusting for certain items, Leggett & Platt's earnings were $0.32 per share. This narrowly missed the forecasted $0.33 per share, as projected by analysts according to Thomson Reuters. These forecasts generally do not account for special items.
In terms of revenue, the company experienced a 6.3% drop, bringing in $1.101 billion, down from $1.175 billion in the previous year.
Here is a summary of Leggett & Platt Inc.’s third-quarter results under GAAP:
- Net Income: $44.9 million, compared to $52.8 million last year.
- Earnings Per Share: $0.33, versus last year's $0.39.
- Revenue: $1.101 billion, compared to $1.175 billion in the previous year.
For the full fiscal year, the company has set its guidance as follows:
- Earnings Per Share: Anticipated to be in the range of $1.00–$1.10.
- Revenue: Expected to total between $4.3 billion and $4.4 billion.
