Leggett & Platt Reports 8% Sales Growth And $.67 EPS
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Leggett & Platt (LEG) Misses Q3 EPS by 10c, Revenues Miss; Reduces FY18 EPS Outlook Below Consensus
October 25, 2018 4:34 PM EDTLeggett & Platt (NYSE: LEG) reported Q3 EPS of $0.61, $0.10 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $1.09 billion versus the consensus estimate of $1.1 billion.
CEO Comments
President and CEO Karl G. Glassman commented, "We are pleased with our 8% sales growth in the third quarter, reflecting strength in several businesses and raw material-related selling price increases. EBIT margin improved sequentially (from 11.0% in second quarter to 11.4% in third quarter) but declined slightly versus the prior year's adjusted[1] EBIT margin (from 11.6% to 11.4%). Our raw material cost increases have moderated but are... More
