Stock Monitor: Nova Lifestyle Post Earnings Reporting

LONDON, UK / ACCESSWIRE / December 01, 2017 / Active-Investors free earnings report on Leggett & Platt, Inc. (NYSE: LEG) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=LEG. The Company reported its third quarter fiscal 2017 results on October 27, 2017. The furniture producer's revenue and earnings beat market expectations. Register today and get free access to our complimentary member's area where many more reports are available:

www.active-investors.com/registration-sg

Active-Investors.comis currently working on the research report for Nova Lifestyle, Inc. (NASDAQ: NVFY), which also belongs to the Consumer Goods sector as the Company Leggett & Platt. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=NVFY

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Leggett & Platt most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

www.active-investors.com/registration-sg/?symbol=LEG

Earnings Highlights and Summary

Leggett & Platt reported revenues of $1.01 billion in Q3 FY17 compared to $948.90 million in Q3 FY16, topping analysts' estimates of $927.20 million. The Company's gross profit amounted to $793.90 million in the reported quarter compared to $721.50 million in Q3 FY16, reporting an increase of 10.03% on a y-o-y basis.

Leggett & Platt's net earnings amounted to $82.60 million in Q3 FY17 compared to $93.60 million in Q3 FY16, resulting in a decline of 11.75% on a y-o-y basis. The diluted earnings per share (EPS) amounted to $0.60 in the reported quarter compared to $0.67 in Q3 FY16, resulting in a decline of 10.45% on a y-o-y basis, beating analysts' estimates of $0.62. The Company posted lower than expected results for Q3 FY17, due to a steel price inflation but the bottom-line was supported by a lower tax-rate because of a new accounting standard for stock-based compensation.

Segment Details

Leggett & Platt has four business segments, namely: (i) Residential Products, (ii) Industrial Products, (iii) Furniture Products, and (iv) Specialized Products.

The Residential Products segment's total sales amounted to $431.20 million in the reported quarter compared to $407.30 million in Q3 FY16, resulting in an increase of 5.87% on a y-o-y basis. The segment's earnings before interest and taxes (EBIT) increased 11.97% to $50.50 million in the reported quarter compared to $45.10 million in Q3 FY16.

The Industrial Products segment reported total sales of $135.00 million in Q3 FY17 compared to $144.70 million in Q3 FY16, declining by 6.70% on a y-o-y basis. The segment's EBIT was $1.10 million in the reported quarter compared to $16.90 million in Q3 FY16.

The Furniture Products segment reported total sales of $287.7 million in Q3 FY17 compared to $265.80 million in Q3 FY16, an increase of 8.24% on a y-o-y basis. The segment's EBIT was $24.50 million in the reported quarter compared to $26.40 million in Q3 FY16.

The Specialized Products segment's total sales amounted to $229.70 million in Q3 FY17 compared to $221.20 million in Q3 FY16, resulting in a 3.84% increase on a y-o-y basis. The segment's EBIT was $34.20 million in the reported quarter compared to $40.60 million in Q3 FY16.

Balance Sheet

The Company reported cash and cash equivalents of $342.90 million for Q3 FY17 compared to $281.90 million in Q4 FY16.

The trade receivables amounted to $554.00 million for Q3 FY17 compared to $450.80 million in Q4 FY16.

The long-term debt amounted to $1.04 billion in Q3 FY17 compared to $956.20 million in Q4 FY16.

Cash Matters

Leggett & Platt posted cash inflow from operating activities of $261.50 million for the nine months ending September 30, 2017, compared to $385.70 million for the same period ending September 30, 2016. In Q3 FY17, the Company repurchased 0.9 million shares at an average price of $47.24.

Outlook

Leggett & Platt expects EPS to be in the range of $2.49 - $2.54 for the fiscal year 2017. The adjusted EPS is expected to be in the range of $0.58 - $0.63, and sales to be between $0.99 billion - $1.04 billion for Q4 FY17. Capital expenditure is expected to be $160.00 million, and dividend payments to be approximately $185.00 million for the current fiscal year.

Stock Performance Snapshot

November 30, 2017 - At Thursday's closing bell, Leggett & Platt's stock was marginally up 0.29%, ending the trading session at $48.24.

Volume traded for the day: 1.45 million shares, which was above the 3-month average volume of 998.40 thousand shares.

Stock performance in the last month – up 2.07%; previous three-month period – up 4.94%; and past twelve-month period – up 0.37%

After yesterday's close, Leggett & Platt's market cap was at $6.38 billion.

Price to Earnings (P/E) ratio was at 19.56.

The stock has a dividend yield of 2.99%.

The stock is part of the Consumer Goods sector, categorized under the Home Furnishings & Fixtures industry. This sector was up 0.3% at the end of the session.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors