Carthage, Missouri-based diversified manufacturer Leggett & Platt reported Monday Q3 2012 earnings per share of $0.45, up significantly from $0.31 in last year Q3 and a record for the company. President and CEO David Haffner commented, "In the third quarter we set a new record $0.45 for EPS from continuing operations. Prior to 2012, that quarterly record was $0.39, set in 2006. Importantly, we accomplished this milestone based upon strong operational performance as a result of higher volumes and margins." Q3 sales were $982 million, a $41 million, or 4 percent, increase versus the prior year.
Total sales in the company's industrial materials segment increased $1 million, or 1 percent. The Western Tube acquisition increased sales by 9 percent; however, same location sales decreased 8 percent, primarily due to lower trade sales at wire rod mill. Total sales in the Specialized Products segment increased $3 million, or 2 percent; unit volume grew by 5 percent, but was partially offset by currency rate changes.
Leggett & Platt said that it anticipates 2012 trade sales of approximately $3.70 - 3.75 billion, with 2012 earnings per share of $1.45 - 1.52. Full year guidance reflects significant EPS improvement over the prior four years, in which reported earnings per share was $.62, $.70, $1.15, and $1.04.