Springfield, MO

Leggett & Platt’s earnings dip

Posted online
On higher expenses, Carthage-based Leggett & Platt Inc. (NYSE: LEG) reported a 4 percent drop in first-quarter earnings to $86.1 million.

The manufacturer of engineered components and products for homes, offices and vehicles reported diluted share earnings of 62 cents, a 1-cent drop, according to a news release.

First-quarter financial notes:
    •    Sales improved by 2 percent to $960.3 million.
    •    Cost of goods sold rose 4 percent to $734.3 million, leading to a 3 percent decline in gross profit.
    •    Same-location sales moved up 4 percent.

At the end of the first quarter, Leggett & Platt held $3.1 billion in assets. The company has 21,000 employees across 17 business units and 130 manufacturing plants in 19 countries, according to the release.

LEG shares were trading at $53.79 as of 9:57 a.m., near a 52-week high of $54.97. The company’s 52-week low is $44.02

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