Leggett & Platt reports increased sales and earnings in Q2

Tuesday, 30 July 2019 21:55:38 (GMT+3)   |   San Diego
       

Diversified wire product manufacturer Leggett & Platt reported second quarter 2019 sales of $1.21 billion, a 10 percent increase versus second quarter last year. Second quarter EBIT was $136 million, up $15 million or 12 percent from second quarter last year. Second quarter earnings per share (EPS) was $0.64, an increase of $0.01 versus 2018. 

President and CEO Karl G. Glassman commented, "Sales grew 10 percent in the second quarter, primarily from the ECS acquisition. Sales also increased from continued market share and content gains in U.S. Spring, which was up 4 percent in the quarter, but this improvement was more than offset by lower volume from business exited in our Furniture Products segment, weak trade demand in the Industrial Products segment, and softer demand in Automotive.

As for full year 2019 sales and EPS guidance, the company said sales are expected to be $4.7-$4.85 billion, an increase of 10-14 percent versus 2018.


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