Leggett & Platt down after cutting FY forecast
01/08/2023 13:52
** Diversified manufacturer Leggett & Platt's LEG.N shares
fall 2.6% to $28.50 premarket
** Company cuts FY sales forecast to $4.75 bln-$4.95 bln
from prior range of $4.8 bln-$5.2 bln; also trims FY EPS
forecast to $1.50-$1.70 from $1.50-$1.90
** "We are lowering our full year guidance to reflect
continued volatility in the macroeconomic environment and low
visibility in several of our end markets" - CEO Mitch Dolloff
** Company posts Q2 EPS of 40 cents, down 43% from a year
earlier
** Q2 sales fall 8% to $1.22 bln
** As of last close, stock down 9.2%
(Reporting by Shashwat Chauhan in Bengaluru)
((Shashwat.Chauhan@thomsonreuters.com))