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 a forecast for FY24 adjusted EPS and revenue that fell short of expectations.
February 09, 2024 | 1:44 pm
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Leggett & Platt's shares declined due to poor Q4 financial performance and pessimistic FY24 earnings and revenue guidance.
The negative reaction in Leggett & Platt's stock price is directly tied to the company's announcement of weaker-than-expected financial results for the fourth quarter and its issuance of a forecast for FY24 that does not meet analysts' expectations. This kind of financial performance and outlook can lead to a loss of investor confidence and a decrease in stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100