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News Breaks
January 10, 2013
16:14 EDTLEGLeggett & Platt raises FY12 EPS to $1.63-$1.70 due to unusual tax benefit of 18c
Consensus $1.49. Leggett & Platt anticipates a Q4 unusual, non-cash net tax benefit of approximately $27M, or 18c per share. This benefit results primarily from the elimination of a valuation allowance on the company's Canadian deferred tax assets. Apart from this unusual tax benefit, the company's FY12 EPS guidance has not changed from the $1.45-1.52 issued in October. The tax benefit is expected to increase earnings per share by approximately 18c; as a result, FY12 EPS is now expected to be in the range of $1.63-$1.70. Additionally, since this is a non-cash item, the company's expectation for operating cash has not changed. As previously stated, cash from operations for the year 2012 should exceed $350M.
News For LEG From The Last 14 Days
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February 1, 2016
16:14 EDTLEGLeggett & Platt sees FY16 CapEx about $130M
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16:13 EDTLEGLeggett & Platt sees FY16 EPS $2.30-$2.50, consensus $2.34
Sees FY16 revenue $3.9B-$4.1B, consensus $4.17B. Unit volume growth is expected to be in the mid-to-high single digits as a result of continued strong demand in many of the company's product categories, and improvement in the majority of its end markets. As partial offsets to the volume growth, sales guidance includes a 2-3% reduction from commodity deflation, and a 2% decrease from the Steel Tubing divestiture completed in late December. Based upon this sales guidance, 2016 EBIT margin is expected to approximate 2015's adjusted EBIT margin. The benefit to margin from higher unit volume is anticipated to be largely offset by non-recurrence of the 2015 pricing lag. This guidance framework assumes that commodity prices (primarily steel) stabilize near current levels.
16:12 EDTLEGLeggett & Platt reports Q4 adjusted EPS 64c, consensus 51c
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