Springfield, MO

Paul Mueller Co.'s net income decreases by 14 percent in the second quarter.
sbj file photo
Paul Mueller Co.'s net income decreases by 14 percent in the second quarter.

Local manufacturers post earnings drops

Posted online

Southwest Missouri manufacturers Paul Mueller Co. (OTC: MUEL) and Leggett & Platt Inc. (NYSE: LEG) both reported lower second-quarter net income compared with the prior year.

Mueller Co.
The Springfield-based stainless steel equipment maker posted net income of $653,000 for the three months ended June 30. That’s a 14 percent decrease from $762,000 in the same quarter of 2016.

Diluted share earnings dipped 8 cents to 55 cents per share, according to a news release.

Second-quarter financial notes:
    •    Sales dropped 13 percent to $39.6 million.
    •    Cost of sales moved down 15 percent to roughly $28 million.
    •    Revenue in Europe fell 29 percent to $12.8 million.

As of June 30, Mueller Co. held $123.8 million in assets, according to the release.

The company’s over-the-counter stock closed yesterday at $32, tying a 52-week high set last week. The 52-week low is $26.60.

Leggett & Platt
The Carthage-based manufacturer of engineered components and products for homes, offices and vehicles made $87.6 million in second-quarter profits, a 28 percent drop from $121.2 million during the same period a year earlier.

Earnings per diluted share fell 12 cents to 64 cents, according to a news release.

Second-quarter financial notes:
    •    Net sales ticked up 3 percent to $989.3 million.
    •    Same-location sales grew 4 percent.
    •    The company lowered its full-year sales guidance range by $50 million, or about 1 percent, to $3.9-$4 billion.

Leggett & Platt recorded assets of $3.3 billion at the end of June and employed 21,000 at 130 manufacturing plants in 19 countries, according to the release.

LEG shares were trading at $47.83 as of 8:52 a.m., compared with a 52-week range of $44.02 to $54.97.


No comments on this story |
Please log in or register to add your comment
Editors' Pick

It Takes a Team: ‘The Hub,’ WOW selected for design and construction awards

Collaboration was prominent Nov. 9 at the 33rd annual Salute to Design and Construction Awards.

Most Read
SBJ Live logo
Mobile First World

“For marketers in this day and age, it’s so important to think about how you are engaging with customers and potential consumers on that mobile device,” says Erika Murray, Global Brand Manager …

App-titude - Tracking Projects with Trello “I like to think of it as a big white board where you can put post-it notes and track your progress on the different stages of a process,” says David Brazeal. Trello allows you to make a list, …
Realities of Medical Malpractice Lawsuits “Medical negligence or medical malpractice cases essentially are a platform for families to bring a lawsuit against a healthcare provider,” says Debbie Dodge, Managing Shareholder at Hall Ansley. …
Never Stop Learning “You’ll know that you’re a trusted adviser when your clients come to you before they make a business decision,” says Tom Jensen, with Connell Insurance, one of Springfield Business …
Beyond the Spotlight - Hinode “One big thing we tried to do was to make it more casual — into a fun family dining experience that everyone could enjoy,” says Cosmo Kwon, Co-Owner of Hinode in Nixa, Mo. The change worked. …