Leggett & Platt
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.
Can your retirement portfolio provide you with enough income to last? You'll need more than Leggett & Platt. Learn about crafting a smarter retirement plan in "The Shocking Can't-Miss Truth About Your Retirement." Get instant access to this free report.
- Add Leggett & Platt to My Watchlist.
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 of Motley 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.