Leggett & Platt Inc. Q2 Profit Decreases, misses estimates

(RTTNews) - Leggett & Platt Inc. (LEG) announced a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $54.2 million, or $0.40 per share. This compares with $95.2 million, or $0.70 per share, in last year's second quarter.

Excluding items, Leggett & Platt Inc. reported adjusted earnings of $0.38 per share for the period.

Analysts on average had expected the company to earn $0.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.3% to $1.22 billion from $1.33 billion last year.

Leggett & Platt Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $54.2 Mln. vs. $95.2 Mln. last year. -EPS (Q2): $0.40 vs. $0.70 last year. -Analyst Estimates: $0.39 -Revenue (Q2): $1.22 Bln vs. $1.33 Bln last year.

-Guidance: Full year EPS guidance: $1.45 – $1.65 Full year revenue guidance: $4.75 – $4.95 Bln