Leggett & Platt Q1 Profit Rises; Raises Low End Of 2014 EPS Guidance

(RTTNews) - Leggett & Platt (LEG) reported that its first-quarter earnings from continuing operations increased to $53.7 million or $0.37 per share, from $49.4 million or $0.33 per share, previous year.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.38 for the quarter. Analysts' estimates typically exclude special items. Net sales from continuing operations decreased to $919.1 million from $932.7 million. Analysts expected revenue of $972.95 million for the quarter. For 2014, Leggett anticipates accelerated sales growth, EBIT margin improvement, and record operating EPS. The company raised the low end of its prior EPS guidance, and now projects 2014 EPS of $1.70-$1.85 on sales of $3.85 billion-$4.05 billion, or 3%-8% growth. Analysts expect the company to report 2014 earnings per share of $1.73 on revenue of $3.92 billion.