Leggett & Platt Inc. Q3 Profit Decreases, misses estimates

(RTTNews) - Leggett & Platt Inc. (LEG) reported a profit for third quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $52.8 million, or $0.39 per share. This compares with $71.4 million, or $0.52 per share, in last year's third quarter.

Excluding items, Leggett & Platt Inc. reported adjusted earnings of $0.36 per share for the period.

Analysts on average had expected the company to earn $0.40 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.5% to $1.18 billion from $1.29 billion last year.

Leggett & Platt Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $52.8 Mln. vs. $71.4 Mln. last year. -EPS (Q3): $0.39 vs. $0.52 last year. -Analyst Estimates: $0.40 -Revenue (Q3): $1.18 Bln vs. $1.29 Bln last year.

-Guidance: Full year EPS guidance: $1.35 - $1.45 Full year revenue guidance: $4.7 - $4.75 Bln