Leggett & Platt Inc. Reveals Decline In Q1 Bottom Line, misses estimates

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

The company's earnings totaled $31.6 million, or $0.23 per share. This compares with $53.5 million, or $0.39 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.1% to $1.10 billion from $1.21 billion last year.

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

-Earnings (Q1): $31.6 Mln. vs. $53.5 Mln. last year. -EPS (Q1): $0.23 vs. $0.39 last year. -Revenue (Q1): $1.10 Bln vs. $1.21 Bln last year.

-Guidance: Full year EPS guidance: $1.05 – $1.35 Full year revenue guidance: $4.35 – $4.65 Bln