Manufacturing company Leggett & Platt (NYSE:LEG) will be reporting results this Wednesday after the bell. Here’s what to look for.
Leggett & Platt beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $1.04 billion, down 5.9% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ adjusted operating income estimates but full-year revenue guidance slightly missing analysts’ expectations.
Is Leggett & Platt a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Leggett & Platt’s revenue to decline 11.1% year on year to $938.7 million, a further deceleration from the 5.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.23 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Leggett & Platt has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Leggett & Platt’s peers in the consumer discretionary segment, some have already reported their Q4 results, giving us a hint as to what we can expect. MasterCraft delivered year-on-year revenue growth of 13.2%, beating analysts’ expectations by 4.1%, and Tapestry reported revenues up 14%, topping estimates by 7.7%. MasterCraft traded up 8.6% following the results while Tapestry was also up 17.1%.
Read our full analysis of MasterCraft’s results here and Tapestry’s results here.
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