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Compared to Estimates, Legget & Platt (LEG) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2023, Legget & Platt (LEG - Free Report) reported revenue of $1.22 billion, down 8.5% over the same period last year. EPS came in at $0.38, compared to $0.70 in the year-ago quarter.
The reported revenue represents a surprise of -1.56% over the Zacks Consensus Estimate of $1.24 billion. With the consensus EPS estimate being $0.39, the EPS surprise was -2.56%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Legget & Platt performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Change in Organic Sales - Bedding Products: -18% versus -14.23% estimated by four analysts on average.
Change in Organic Sales - Specialized Products: 12% versus the four-analyst average estimate of -8.63%.
Change in Organic Sales - Furniture, Flooring and Textile Products: -16% compared to the 7.11% average estimate based on four analysts.
Change in Organic Sales: -11% versus the three-analyst average estimate of -8.8%.
External Sales- Furniture, Flooring and Textile Products: $395.60 million compared to the $424.15 million average estimate based on four analysts.
External Sales- Specialized Products: $321.20 million compared to the $290.27 million average estimate based on four analysts. The reported number represents a change of +23.5% year over year.
External Sales- Bedding Products: $504.40 million versus $526.16 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -17.7% change.
EBIT- Bedding Products: $23 million versus the three-analyst average estimate of $34.59 million.
EBIT- Furniture, Flooring and Textile Products: $38.90 million versus the three-analyst average estimate of $32.70 million.
EBIT- Specialized Products: $33.10 million compared to the $25.38 million average estimate based on three analysts.
Shares of Legget & Platt have returned -0.3% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Legget & Platt (LEG) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, Legget & Platt (LEG - Free Report) reported revenue of $1.22 billion, down 8.5% over the same period last year. EPS came in at $0.38, compared to $0.70 in the year-ago quarter.
The reported revenue represents a surprise of -1.56% over the Zacks Consensus Estimate of $1.24 billion. With the consensus EPS estimate being $0.39, the EPS surprise was -2.56%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Legget & Platt performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Change in Organic Sales - Bedding Products: -18% versus -14.23% estimated by four analysts on average.
- Change in Organic Sales - Specialized Products: 12% versus the four-analyst average estimate of -8.63%.
- Change in Organic Sales - Furniture, Flooring and Textile Products: -16% compared to the 7.11% average estimate based on four analysts.
- Change in Organic Sales: -11% versus the three-analyst average estimate of -8.8%.
- External Sales- Furniture, Flooring and Textile Products: $395.60 million compared to the $424.15 million average estimate based on four analysts.
- External Sales- Specialized Products: $321.20 million compared to the $290.27 million average estimate based on four analysts. The reported number represents a change of +23.5% year over year.
- External Sales- Bedding Products: $504.40 million versus $526.16 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -17.7% change.
- EBIT- Bedding Products: $23 million versus the three-analyst average estimate of $34.59 million.
- EBIT- Furniture, Flooring and Textile Products: $38.90 million versus the three-analyst average estimate of $32.70 million.
- EBIT- Specialized Products: $33.10 million compared to the $25.38 million average estimate based on three analysts.
View all Key Company Metrics for Legget & Platt here>>>Shares of Legget & Platt have returned -0.3% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.