Leggett & Platt Misses Where It Counts
Leggett & Platt (NYS: LEG) reported earnings on April 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Leggett & Platt beat expectations on revenues and missed estimates on earnings per share.
Compared with the prior-year quarter, revenue expanded and GAAP earnings per share didn't move.
Gross margins shrank, operating margins grew, net margins dropped.
Leggett & Platt notched revenue of $946.8 million. The five analysts polled by S&P Capital IQ predicted sales of $910.1 million on the same basis. GAAP reported sales were 5.7% higher than the prior-year quarter's $895.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.30. The six earnings estimates compiled by S&P Capital IQ predicted $0.33 per share. GAAP EPS of $0.30 were the same as the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 18.8%, 20 basis points worse than the prior-year quarter. Operating margin was 7.8%, 10 basis points better than the prior-year quarter. Net margin was 4.6%, 40 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $966.9 million. On the bottom line, the average EPS estimate is $0.37.
Next year's average estimate for revenue is $3.73 billion. The average EPS estimate is $1.31.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 195 members out of 237 rating the stock outperform, and 42 members rating it underperform. Among 76 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 67 give Leggett & Platt a green thumbs-up, and nine 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 $27.00.
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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. He is the 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 don't 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.