Leggett & Platt Raises FY21 Outlook

(RTTNews) - Leggett & Platt Inc. (LEG) Monday raised its full year 2021 guidance. The company now expects sales to be $4.9 billion to $5.1 billion, or a growth of 14% to 19% versus 2020, and adjusted earnings of $2.70 to $2.90 per share.

Previously, the company expected earnings of $2.55 to $2.75 per share on revenues of $4.8 billion to $5.0 billion.

Analysts polled by Thomson Reuters currently expects earnings of $2.72 per share on revenues of $4.91 billion.

The company expects volume to grow mid-to-high-single digits and raw material-related price increases expected to add significant sales growth. Acquisitions, net of divestitures, are expected to add 1% to sales growth.

Earnings are expected to reflect higher volume and higher metal margin, the company said in a statement.