logo
  

Leggett & Platt Raises FY21 Outlook

Leggett & Platt Inc. (LEG) Monday raised its full year 2021 guidance. The company now expects sales to be $4.9 billion to $5.1 billion, or a growth of 14% to 19% versus 2020, and adjusted earnings of $2.70 to $2.90 per share.

Previously, the company expected earnings of $2.55 to $2.75 per share on revenues of $4.8 billion to $5.0 billion.

Analysts polled by Thomson Reuters currently expects earnings of $2.72 per share on revenues of $4.91 billion.

The company expects volume to grow mid-to-high-single digits and raw material-related price increases expected to add significant sales growth. Acquisitions, net of divestitures, are expected to add 1% to sales growth.

Earnings are expected to reflect higher volume and higher metal margin, the company said in a statement.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Drug major Pfizer has again expanded the earlier two recalls of its anti-smoking Drug Chantix (Varenicline) in the form of tablets, to now include all the lots, for the potential presence of nitrosamine impurity, N-Nitroso- varenicline, at or above the FDA interim acceptable intake limit (ADI), the U.S. Food and Drug Administration or FDA said in a statement. Department store chain Sears is closing down its last store located in its home state of Illinois, CNBC reported. The company, which was founded in Chicago in 1892, plans to shut the shop, located in Simon Property Group's Woodfield Mall, on November 14. Sears' parent company, Transformco, which also manages the real estate, said it plans to maximize the value of the Woodfield Mall property and Amazon said over 1 million people have applied for a job at the tech major as part of its Career Day 2021. Job seekers from more than 170 countries have participated in the virtual event. In addition, more than 2,000 Amazon recruiters offered 30,000 individual career coaching sessions with participants in a single day.
Follow RTT