Leggett & Platt Reduces 2018 Sales, EPS Guidance - Quick Facts

(RTTNews) - Leggett & Platt Inc. (LEG) announced the company reduced its 2018 continuing operations EPS to $2.55-$2.70, a $0.07 per share mid-point reduction from the prior range of $2.60-$2.80. The decrease is primarily from the negative impact of lower than expected full year sales, higher steel costs in Home Furniture business. 2018 sales guidance is reduced to $4.25-$4.35 billion from the prior range of $4.3-$4.4 billion.

Second quarter earnings were $0.63 per share, down $0.01 versus the $0.64 per share earned in second quarter 2017. Sales were $1.1 billion, an 11% increase from last year; volume up 6%.