Legett & Platt Lowers FY23 Guidance EPS $1.45-$1.65 Vs $1.63 Est.; Revenue $4.75B-$4.95B Vs $4.94B Est.
Portfolio Pulse from Happy Mohamed
Leggett & Platt has lowered its FY23 guidance, with expected EPS of $1.45-$1.65, down from the estimated $1.63, and revenue of $4.75B-$4.95B, down from the estimated $4.94B. The decrease is primarily due to lower expected volume in residential end markets. The company also expects a gain from net insurance proceeds from tornado damage of ~$0.05 per share.
July 31, 2023 | 8:38 pm
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Leggett & Platt has lowered its FY23 guidance, which could negatively impact investor sentiment and potentially lead to a decrease in the company's stock price in the short term.
The company's lowered guidance indicates that it expects lower performance than previously estimated. This could negatively impact investor sentiment, leading to a potential decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100