Carthage, Missouri-based diversified manufacturer Leggett & Platt reported Thursday net earnings of $54.7 million in Q2 2011, compared to earnings of $52.7 in Q2 2010--an increase of 4 percent. Q2 sales were up 8 percent year-on-year to $945 million as unit volume sales stayed essentially flat. In a press release, Leggett & Platt said that inflation and currency exchange rates accounted for about 6 percent of the growth, while trade sales at the company's steel mill provided 2 percent growth.
In its industrial materials sector, which include wire drawn and tubing produced by the company's steel mill, total sales rose 18 percent on the year, as unit volume was up 6 percent and inflation added 12 percent to sales.
For the full year 2010, Leggett & Platt anticipates sales of approximately $3.5 to $3.7 billion, an increase of about 4 to 10 percent versus 2010.