Leggett & Platt Q2 Profit Misses Estimates; Lifts FY Guidance

(RTTNews) - Leggett & Platt Inc (LEG), a producer of engineered components and products, on Thursday reported second-quarter net earnings of $77.7 million or $0.54 per share compared with a loss of $23.9 million or $0.17 per share last year.

Excluding items, adjusted earnings for the quarter were $0.53 per share compared with $0.48 per share a year ago.

Revenues for the quarter were up 4% at $997.3 million compared with $956.1 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.54 per share on revenues of $1.03 billion for the quarter. Analysts' estimates typically exclude special items.

For the full year 2015, the company now expects earnings of $2.00 to $2.15 per share on sales of $3.95 billion to $4.10 billion. Earlier, it expected earnings of $1.95 to $ 2.10 per share on sales of $3.90 billion to $4.10 billion.

Analysts expect earnings of $2.07 per share on revenues of $4.03 billion for the year.