Leggett & platt posts quarterly earnings per share of $0.34

Leggett & platt reports 1q results and covid-19 impacts.q1 adjusted earnings per share $0.41.q1 earnings per share $0.34.q1 earnings per share estimate $0.34 -- refinitiv ibes data.q1 sales $1.045 billion versus refinitiv ibes estimate of $1.09 billion.2020 guidance suspended, as previously announced on april 2(nd).liquidity, as of march 31, of $734 million; $506 million of cash and $228 million in available capacity under our commercial paper program.reduced full year capital expenditure budget by over 60% to $60 million.remaining 2020 debt maturities of $37.5 million with no significant debt maturities until august 2022.rapid sales declines in last two weeks of q1 have stabilized through first three weeks of q2.expect full year fixed cost reduction of $130ꟷ$150 million.qtrly organic sales were down 12%.qtrly volume down 9%, largely from covid-19 impacts in last two weeks of quarter.currently in process with our banks to amend covenant in our revolving credit facility.1q 2020 adjustments include an $8 million non-cash impairment charge related to a note receivable.rapidly deployed cost savings measures across company, significantly reducing production levels and enacting temporary layoffs.
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