Leggett & Platt, Inc. Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Leggett & Platt, Inc. (NYSE:LEG) will unveil its latest earnings on Thursday, July 28, 2011. Leggett & Platt, Incorporated manufactures a range of engineered components and products, including residential furnishings, commercial fixtures and components and industrial materials.

Leggett & Platt, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 37 cents per share, a rise of 8.8% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate moved up, but has dropped from 38 cents during the last month. For the year, analysts are projecting net income of $1.40 per share, a rise of 20.7% from last year.

Past Earnings Performance: The company beat estimates last quarter after falling short in the prior two. In the first quarter, the company reported profit of 30 cents per share versus a mean estimate of net income of 20 cents per share. In the fourth quarter of the last fiscal year, the company missed estimates by 2 cents.

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Wall St. Revenue Expectations: On average, analysts predict $926.7 million in revenue this quarter, a rise of 6% from the year ago quarter. Analysts are forecasting total revenue of $3.61 billion for the year, a rise of 7.4% from last year’s revenue of $3.36 billion.

Analyst Ratings: Analysts seem relatively indifferent about Leggett & Platt with four of six analysts surveyed maintaining a hold rating.

Key Stats:

Revenue has risen the past four quarters. Revenue increased 9.7% to $895.8 million in first quarter. The figure rose 4.2% in the fourth quarter of the last fiscal year from the year earlier, climbed 7% in the third quarter of the last fiscal year from the year-ago quarter and 15.4% in the second quarter of the last fiscal year.

The company has now seen net income fall in each of the last three quarters. In first quarter, net income fell 0.2% from the year earlier, while the figure fell 10.8% in the fourth quarter of the last fiscal year and 12.7% in the third quarter of the last fiscal year.

Competitors to Watch: Select Comfort Corp. (NASDAQ:SCSS), Tempur-Pedic Intl. Inc. (NYSE:TPX), Sealy Corporation (NYSE:ZZ), La-Z-Boy Incorporated (NYSE:LZB), Flexsteel Industries, Inc. (NASDAQ:FLXS), Hooker Furniture Corp. (NASDAQ:HOFT), Chromcraft Revington, Inc. (AMEX:CRC).

Stock Price Performance: During May 25, 2011 to July 22, 2011, the stock price had fallen $1.61 (-6.4%) from $25.11 to $23.50. The stock price saw one of its best stretches over the last year between April 18, 2011 and April 29, 2011 when shares rose for nine-straight days, rising 14.9% (+$3.38) over that span. It saw one of its worst periods between July 7, 2011 and July 18, 2011 when shares fell for eight-straight days, falling 7.6% (-$1.89) over that span. Shares are up $1.26 (+5.7%) year to date.

(Source: Xignite Financials)

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