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Leggett & Platt Trims Guidance

The third quarter is in line, though.
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Leggett & Platt

(LEG) - Get Leggett & Platt, Incorporated Report

hit third-quarter earnings targets but guided lower for the fourth quarter.

The Carthage, Mo., engineered components company made $84 million, or 45 cents a share, up from the year-ago $54 million, or 28 cents a share. Latest-quarter earnings were boosted to the tune of a penny a share by one-time gains.

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Sales rose 5% from a year ago to $1.42 billion.

Analysts surveyed by Thomson Financial were looking for a 44-cent profit on sales of $1.43 billion.

The company said it expects to make $1.55 to $1.65 a share for the year, below its previous $1.55-$1.75 guidance. Leggett cited weakness in the North American auto and bedding markets.