Leggett & Platt Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Leggett & Platt, Inc. (NYSE:LEG) will unveil its latest earnings on Thursday, October 27, 2011. Leggett & Platt 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 36 cents per share, a rise of 16.1% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 40 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 36 cents during the last month. For the year, analysts are projecting net income of $1.34 per share, a rise of 15.5% from last year.

Past Earnings Performance: Last quarter, the company fell short of estimates by 10 cents, coming in at profit of 35 cents per share against a mean estimate of net income of 37 cents. The company topped expectations in the first quarter.

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Wall St. Revenue Expectations: On average, analysts predict $927.2 million in revenue this quarter, a rise of 7% from the year ago quarter. Analysts are forecasting total revenue of $3.62 billion for the year, a rise of 7.7% 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.

A Look Back: In the second quarter, profit rose 3.8% to $54.7 million (37 cents a share) from $52.7 million (34 cents a share) the year earlier, but fell short analyst expectations. Revenue rose 8.1% to $945.2 million from $874.3 million.

Key Stats:

The increase in profit in the second quarter broke a streak of three consecutive quarters of year-over-year profit decreases. Net income dropped 0.2% in the first quarter, 10.8% in the fourth quarter of the last fiscal year and 12.7% in the third quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue rose 9.7% in the first quarter from the year earlier, climbed 4.2% in the fourth quarter of the last fiscal year from the year-ago quarter and 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 September 23, 2011 to October 21, 2011, the stock price had risen $3.35 (17%) from $19.69 to $23.04. 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% (+$3.32) 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% (-$1.86) over that span. Shares are up $1.10 (+5%) year to date.

(Source: Xignite Financials)

Investing Insights: Amazon.com has a Stock Chart Technical Analysts Dream About.

 

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