Leggett & Platt Meets on Revenues, Misses on EPS
Leggett & Platt (NYS: LEG) reported earnings on Feb. 6. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Leggett & Platt met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP earnings per share contracted significantly.
Margins shrank across the board.
Leggett & Platt reported revenue of $940.9 million. The five analysts polled by S&P Capital IQ hoped for revenue of $936.6 million. Sales were 6.5% higher than the prior-year quarter's $866.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at $0.31. The six earnings estimates compiled by S&P Capital IQ predicted $0.36 per share on the same basis. GAAP EPS of $0.06 for Q3 were 71% lower than the prior-year quarter's $0.21 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 16.7%, 100 basis points worse than the prior-year quarter. Operating margin was 5.2%, 120 basis points worse than the prior-year quarter. Net margin was 1.0%, 290 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $827.3 million. On the bottom line, the average EPS estimate is $0.21.
Next year's average estimate for revenue is $3.61 billion. The average EPS estimate is $1.18.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 189 members out of 231 rating the stock outperform, and 42 members rating it underperform. Among 80 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 72 give Leggett & Platt a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Leggett & Platt is hold, with an average price target of $27.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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