Leggett & Platt shares are trading lower after the company reported worse-than-expected Q4 financial results and issued FY24 adjusted EPS and revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Leggett & Platt's shares dropped following the announcement of disappointing Q4 financial results and the issuance of FY24 adjusted EPS and revenue guidance that fell short of expectations.
February 08, 2024 | 10:06 pm
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Leggett & Platt's shares declined due to poor Q4 financial performance and pessimistic FY24 earnings and revenue outlook.
The negative reaction in Leggett & Platt's stock price is directly tied to the company's announcement of lower-than-expected Q4 financial results and disappointing future earnings and revenue guidance. This news is likely to shake investor confidence in the short term, leading to a decrease in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100