Leggett & Platt (LEG) Tops Q1 EPS by 8c
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Leggett & Platt Reports $.63 EPS, A First Quarter Record
April 28, 2016 4:09 PM EDTCARTHAGE, Mo., April 28, 2016 /PRNewswire/ --
1Q EPS was $.63, a first quarter record and 26% improvement versus 1Q 2015 1Q sales were $938 million, a 3% decrease versus 1Q 2015 due to commodity deflation and divestitures EBIT margin improved to 13.5%, a 190 basis point gain over 1Q last year Raising EPS guidance; anticipate record continuing ops EPS of $2.40 - 2.60 on sales of $3.9 - 4.1 billionDiversified manufacturer Leggett & Platt reported earnings of $.63 per share, a first quarter record. The EPS improvement (versus $.50 in 2015) reflects higher unit volume, a tax-related benefit ($.04) from the adoption of a new accounting standard... More
