Leggett & Platt Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Leggett & Platt Inc. (LEG) reported a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $71.4 million, or $0.52 per share. This compares with $97.2 million, or $0.71 per share, in last year's third quarter.

Excluding items, Leggett & Platt Inc. reported adjusted earnings of $0.52 per share for the period.

Analysts on average had expected the company to earn $0.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.3% to $1.29 billion from $1.32 billion last year.

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

-Earnings (Q3): $71.4 Mln. vs. $97.2 Mln. last year. -EPS (Q3): $0.52 vs. $0.71 last year. -Analyst Estimates: $0.49 -Revenue (Q3): $1.29 Bln vs. $1.32 Bln last year.

-Guidance: Next quarter EPS guidance: $0.42–$0.57 Next quarter revenue guidance: $1.15–$1.25 Bln Full year EPS guidance: $2.30–$2.45 Full year revenue guidance: $5.1–$5.2 Bln