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
Walt Disney's streaming service Disney+ is rolling out its much-anticipated new ad-supported subscription plan for Disney+ in the U.S. as part of its bid to stem the loss and make its streaming business profitable after the services posted a hefty operating loss of more than $1 billion in the third quarter. It is also raising pricing for its bundled subscription plans with Hulu, ESPN+ and live TV. The U.S. Food and Drug Administration announced the intended availability of base powder to make around 6 million bottles of specialty formula from Mexico as part of its efforts to meet the nationwide supply shortage caused by Abbott Nutrition recall. Reckitt Nutrition/Mead Johnson Nutrition will send an initial shipment of 331 thousand pounds of base powder for PurAmino Hypoallergenic Formula. Shares of Deutsche Telekom AG were gaining more than 1 percent in the morning trading in Germany after the telecom major on Thursday raised its fiscal 2022 earnings outlook again, despite reporting lower profit in its second quarter. Adjusted EBITDA AL, a key earnings metric, increased, while adjusted EBITDA AL margin dropped.
Follow RTT