Leggett & Platt

Leggett & Platt, Inc. engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding, Flooring, Furniture & Textile, and Specialized Products. The Bedding Products segment supplies products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire. The Flooring, Furniture & Textile Products segment is a producer of an extensive line of components and engineered systems for office, residential, and contract furniture manufacturers. The Specialized Products segment supplies titanium, nickel, and stainless-steel tubing for the aerospace industry, and serves the construction market with its hydraulic cylinders group. The company was founded by J. P. Products and C. B. Platt in 1883 and is headquartered in Carthage, MO.

Earnings data Q1 2021

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Earnings data Q3 2023

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Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Leggett & Platt reports mixed 2022 results, eyes aerospace growth

Leggett & Platt's 2022 performance showed mixed results with sales growth but lower earnings.
The company faces challenges in supply chains and softening demand in key segments.
However, opportunities exist in aerospace, hydraulic cylinders, and improved cash flow generation.
Strategic focus on critical investments and working capital management for future growth.

Leggett & Platt reports mixed Q1 results, eyes Automotive recovery

Leggett & Platt's Q1 2023 performance showed mixed results across segments, with challenges in the Bedding and Specialty foam businesses.
The company's focus on cash generation and balance sheet strength remains a key strength.
Opportunities lie in Automotive cost recovery, consumer spending trends, and growth in specialized product segments.
Maintaining guidance and monitoring market dynamics will be crucial for navigating future uncertainties.

Leggett & Platt Q2 2023: Sales Decline Amid Challenges, Recovery Opportunities

Leggett & Platt faced sales decline and earnings challenges in Q2 2023, impacted by market conditions and segment-specific issues.
Strengths lie in the Specialized Products segment growth, strategic focus on value enhancement, and cash flow priorities set by the new CFO.
Challenges include soft demand in bedding and furniture segments, along with depleted backlogs affecting sales, while opportunities exist in market stabilization and inventory management.

Leggett & Platt reports Q3 sales decline, focuses on cash management

Leggett & Platt faced challenges in sales decline and lowered guidance amid macroeconomic uncertainties but demonstrated strong cash flow and debt management.
The company's diversified portfolio showed resilience, with opportunities in stable housing market demand and managing price-cost dynamics for profitability.
Analysts raised concerns about segment weaknesses and operational challenges, while management expressed confidence in navigating market headwinds.
Optimism exists about consumer spending strength despite economic concerns, positioning Leggett & Platt for potential growth opportunities.

Leggett & Platt navigates challenges, focuses on restructuring and pricing

Leggett & Platt faced a tough Q4 and full year, focusing on restructuring and optimizing operations. While challenges persist in the Bedding and Furniture segments, opportunities exist in specialized products and effective cash management. Pricing adjustments and market alignment are key strategies for navigating uncertainties.

Leggett & Platt Q1 2024: Challenges and Opportunities Amid Restructuring

Leggett & Platt's Q1 2024 performance reflects challenges in certain segments but also highlights strategic priorities towards deleveraging and operational improvements. The company is navigating market competition, restructuring, and cost management to drive profitability and growth.

Leggett & Platt reports Q2 earnings decline, navigates market challenges

Leggett & Platt's Q2 2024 performance reflects a challenging environment with sales decline and earnings impact from a noncash charge.
The company's strengths in restructuring progress, shareholder focus, and employee empowerment position it for resilience amidst market challenges.
Challenges from lower demand, Automotive market volatility, and segment-specific issues require strategic responses for sustained growth.
Opportunities exist for Leggett & Platt to leverage its strengths, adapt to market dynamics, and drive future growth and profitability.

Leggett & Platt reports Q3 challenges, focuses on efficiency improvements

Leggett & Platt faced challenges in Q3 2024 due to weaker demand in key markets, but efficiency improvements and restructuring efforts are driving positive results.
Despite sales decline, the company's focus on operational efficiency and debt reduction is strengthening its financial position.
The revised 2024 outlook sets clear targets for sales, adjusted EPS, and EBIT margin, indicating a strategic approach to navigate market challenges.
Addressing challenges in residential and automotive markets while capitalizing on opportunities for operational enhancement will be key for future success.

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Leggett & Platt, Inc. engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products. The Bedding Products segment supplies products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire. The Specialized Products segment supplies titanium, nickel, and stainless-steel tubing for the aerospace industry, and serves the construction market with its hydraulic cylinders group. The Flooring, Furniture & Textile Products segment produces an extensive line of components and engineered systems for office, residential, and contract furniture manufacturers. The company was founded by J. P. Products and C. B. Platt in 1883 and is headquartered in Carthage, MO.

As Leggett & Platt had already lowered its sales and earnings guidance before the publication of the third quarter results, the share price hardly reacted to the somewhat weak results. However, it's important to note that 2021 was LEG's strongest year ever in terms of sales, and a comparison is not really fair given the cyclicality of the business.

Leggett & Platt Q3 Earnings: Is The Dividend In Danger?

Leggett & Platt's (LEG) third-quarter results reflect slow demand in most of the markets served.

Leggett (LEG) Q3 Earnings Beat, Stock Down on Tepid Views

Leggett & Platt, Incorporated (NYSE:LEG ) Q3 2022 Results Conference Call November 1, 2022 8:30 AM ET Company Participants Susan McCoy - VP, IR Mitch Dolloff - President, CEO Jeff Tate - EVP, CFO Steve Henderson - EVP & President of Specialized Products and Furniture, Flooring & Textile Products Tyson Hagale - SVP & President of the Bedding Products Conference Call Participants Keith Hughes - Truist Peter Keith - Piper Sandler Bobby Griffin - Raymond James Susan Maklari - Goldman Sachs Operator Greetings, and welcome to the Leggett & Platt Third Quarter 2022 Webcast and Earnings Conference Call. [Operator Instructions] At this time, I will now introduce your host, Susan McCoy, Vice President of Investor Relations.

Leggett & Platt, Incorporated (LEG) Q3 2022 Earnings Call Transcript

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Legget & Platt (LEG) delivered earnings and revenue surprises of 6.12% and 5.05%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Legget & Platt (LEG) Q3 Earnings and Revenues Surpass Estimates

Carthage, MO, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Leggett & Platt (NYSE:LEG), a diversified manufacturer of engineered products serving several major markets, will release third quarter earnings results on Monday, October 31, 2022 after the market closes, and hold its quarterly conference call to discuss third quarter results, annual guidance, market conditions and related matters on Tuesday, November 1, 2022 at 8:30 a.m. Eastern Time (7:30 a.m. Central Time).

Leggett & Platt Announces 3Q 2022 Earnings Call

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The challenging global economic environment and consumer backdrop have prompted Leggett & Platt (LEG) to lower its 2022 expectations.

Leggett & Platt (LEG) Guides Lower for 2022, Shares Down 9%

CARTHAGE, Mo. , Oct. 10, 2022 /PRNewswire/ -- Full year 2022 sales guidance lowered to $5.1–$5.2 billion Full year 2022 EPS guidance reduced to $2.30–$2.45 Acquired a Hydraulic Cylinders business and two Textiles businesses Diversified manufacturer Leggett & Platt lowered its full-year 2022 guidance: Sales guidance now $5.1 to $5.2 billion (vs prior $5.2–$5.4 billion) Decrease is primarily due to lower volume than previously expected EPS guidance now $2.30 to $2.45 (vs prior $2.65–$2.80)  Decrease is primarily from lower volume, reduced production, slower than anticipated cost recovery in Automotive, and operational inefficiencies in Specialty Foam Expect sequential improvement from 3Q to 4Q Based upon this guidance, EBIT margin range should be 9.5% to 10.0% (vs prior 10.5%–10.7%) Cash from operations expected to be $400 to $450 million (vs prior $550–$600 million) President and CEO Mitch Dolloff commented, "The increasingly challenged global economic environment and consumer backdrop is expected to result in lower than previously anticipated sales and earnings in the third and fourth quarters of 2022.

LEGGETT & PLATT LOWERS FULL-YEAR GUIDANCE AND ANNOUNCES RECENT ACQUISITIONS

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LEG reported mixed results for the second quarter. The Bedding Products segment continues to show signs of a slowdown, but the automotive and aerospace segments remain strong - for now. Management had to revise its sales and profit forecasts but remains optimistic about the company's short- and long-term performance.

Leggett & Platt: Is The Canary In The Coal Mine Smelling A Recession?

Leggett (LEG) is benefiting from its long-term strategic plan amid ongoing industry challenges.

Here's Why Investors Should Retain Leggett's (LEG) Stock Now

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Legget & Platt (LEG) reported earnings 30 days ago. What's next for the stock?

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Leggett & Platt's (LEG) second-quarter results reflect solid pricing.

Leggett (LEG) Q2 Earnings Match Estimates, Stock Down

Leggett & Platt, Incorporated (NYSE:LEG ) Q2 2022 Earnings Conference Call August 2, 2022 8:30 AM ET Company Participants Susan McCoy - Senior Vice President, Investor Relations Mitch Dolloff - President & Chief Executive Officer Jeff Tate - Executive Vice President & Chief Financial Officer Steve Henderson - Executive Vice President and President, Specialized Products & Furniture, Flooring & Textile Products Tyson Hagale - Senior Vice President, President, Bedding Products Conference Call Participants Bobby Griffin - Raymond James Susan Maklari - Goldman Sachs Keith Hughes - Truist Securities Peter Keith - Piper Sandler Susan Maklari - Goldman Sachs Operator Greetings, and welcome to the Leggett & Platt's Second Quarter 2022 Webcast and Earnings Conference Call. At this time, all participants are on a listen-only mode.

Leggett & Platt, Incorporated (LEG) CEO Mitch Dolloff on Q2 2022 Results - Earnings Call Transcript

CARTHAGE, Mo. , Aug. 1, 2022 /PRNewswire/ -- 2Q sales1 were a quarterly record $1.33 billion, a 5% increase vs 2Q21 2Q EBIT of $143 million, down $29 million vs 2Q21 and down $1 million vs 2Q21 adjusted2 EBIT 2Q EPS of $.70, a decrease of $.12 vs 2Q21 and an increase of $.04 vs 2Q21 adjusted2 EPS 2022 guidance lowered: sales of $5.2–$5.4 billion; EPS of $2.65–$2.80 Diversified manufacturer Leggett & Platt reported record quarterly sales1 in second quarter of $1.33 billion, a 5% increase versus second quarter last year.

LEGGETT & PLATT REPORTS RECORD 2Q SALES

Leggett & Platt (LEG) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

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