Leggett & Platt Lowers FY21 Outlook; Shares Slip 4%

Shares of Leggett & Platt Inc. (LEG) slipped 4% on Monday's extended session after the company lowered its outlook for the full year 2021.

Looking forward to the full year 2021, the company expects sales to be $5.0 billion to $5.1 billion with volumes expected to grow mid-single digits. The company now expects earnings of $2.86 to $2.96 per share and adjusted earnings of $2.70 to $2.80 per share.

Previously, the company expected sales of $4.9 billion to $5.1 billion, earnings of $2.86 to $3.06 per share and adjusted earnings of $2.70 to $2.90 per share.

Analysts polled by Thomson Reuters currently estimate earnings of $2.85 per share on revenues of $5.02 billion for 2021. Analysts' estimates typically exclude one-time items.

LEG closed Monday's trading at $48.03, up $1.18 or 2.52%, on the NYSE. The stock, however, slipped $2.10 or 4.37% in the after-hours trading.

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