Welcome to our dedicated page for Leggett & Platt news (Ticker: LEG), a resource for investors and traders seeking the latest updates and insights on Leggett & Platt stock.
Leggett & Platt, Inc. (NYSE: LEG) is a diversified American manufacturer known for designing and producing a wide range of engineered components and products. These products are integral in many homes and automobiles. Established over 140 years ago, the company operates through three primary segments: Bedding Products, Specialized Products, and Furniture, Flooring, and Textile Products.
Leggett & Platt's product portfolio is extensive, featuring items such as steel rods, drawn wires, foam chemicals and additives, innersprings, specialty foams, private label finished mattresses, mattress foundations, adjustable beds, industrial sewing and quilting machines, and machinery for producing innersprings. These products cater to an array of clients including industrial users, finished bedding manufacturers, bedding brands, and retailers.
The company's Bedding Products segment contributes significantly to its revenue, offering bedding components, specialty bedding foam, and private label finished mattresses. The Specialized Products segment is noted for its automotive seat support and lumbar systems, alongside other industrial components. Meanwhile, the Furniture, Flooring, and Textile Products segment includes components for home and work furniture, as well as flooring underlayment.
Despite the challenging market conditions, Leggett & Platt continues to evolve and adapt. Recent initiatives include a restructuring plan aimed at optimizing manufacturing and distribution efficiency, particularly within the Bedding Products and Furniture, Flooring, and Textile Products segments. This plan is expected to generate substantial annual EBIT benefits once fully implemented by late 2025.
Financially, Leggett & Platt reported a 9% decrease in third-quarter sales for 2023, with ongoing weak demand impacting certain segments. Nevertheless, the company remains focused on improving operational efficiency, cash management, and exploring new product opportunities. Additionally, it maintains a strong balance sheet and continues to provide value to shareholders through dividends and potential stock repurchases.
Leggett & Platt's commitment to innovation and customer engagement ensures it remains a key player in its industry. The company’s strategy includes integrating specialty foam and innerspring operations to enhance profitability and operational coherence across its business units. Looking ahead, Leggett & Platt aims to navigate macroeconomic challenges while capitalizing on market opportunities to sustain long-term growth and shareholder returns.
Leggett & Platt (NYSE: LEG) has announced its quarterly dividend for Q4 2024. The Board of Directors has declared a dividend of $0.05 per share, which will be paid on January 15, 2025 to shareholders of record on December 13, 2024. The company, established 141 years ago, is a diversified manufacturer specializing in engineered components for bedding, automotive, furniture, and aerospace industries.
Leggett & Platt (LEG) reported Q3 2024 results with sales of $1.1 billion, down 6% year-over-year. Q3 EPS was $0.33, with adjusted EPS of $0.32, decreasing $0.04 from Q3 2023. The company lowered its 2024 guidance, now expecting sales of $4.3-$4.4 billion and adjusted EPS of $1.00-$1.10. The decrease was attributed to weak demand in residential markets and automotive sector headwinds. The company paid down $124 million in debt and is exploring the potential sale of its Aerospace business. The restructuring plan is expected to deliver $50-$60 million in annualized EBIT benefits by late 2025.
Leggett & Platt (NYSE:LEG), a diversified manufacturer of engineered products, has announced its third quarter earnings call for fiscal year 2024. The company will release its Q3 earnings results on Monday, October 28, 2024 after market close. A conference call to discuss the results, annual guidance, and market conditions will be held on Tuesday, October 29, 2024, at 8:30 a.m. Eastern Time.
The call will be webcast and accessible from the Investor Relations section of Leggett & Platt's website. Dial-in information is provided for those who wish to participate by phone. An audio replay and transcript of the webcast will be available on the company's website for 12 months following the call.
Leggett & Platt, founded 141 years ago, is a leading supplier of various engineered components found in homes and automobiles, including bedding components, automotive seat systems, furniture components, and aerospace tubing.
Leggett & Platt (NYSE: LEG) has announced a quarterly dividend of $0.05 per share for the third quarter of 2024. The dividend will be paid on October 15, 2024, to shareholders of record on September 13, 2024. Leggett & Platt, a 141-year-old diversified manufacturer, is a leading supplier of various engineered components found in homes and automobiles. The company specializes in bedding components, automotive seat systems, furniture components, and other products for industries including aerospace and material handling.
Leggett & Platt (NYSE: LEG) reported Q2 2024 results with sales of $1.1 billion, an 8% decrease from Q2 2023. The company reported a loss of $4.39 per share, primarily due to a $675 million non-cash goodwill impairment charge. Adjusted EPS was $0.29, down $0.09 from Q2 2023. LEG lowered its 2024 sales guidance to $4.3-$4.5 billion and narrowed adjusted EPS guidance to $1.10-$1.25. The company is progressing with its restructuring plan, expecting $40-$50 million in annualized EBIT benefit by late 2025. LEG paid down $73 million of debt and improved adjusted EBIT margin by 50 basis points sequentially. The company is conducting a strategic review of its portfolio to focus on more profitable opportunities.
Leggett & Platt (NYSE:LEG), a diversified manufacturer of engineered products, has announced its second quarter 2024 earnings release and conference call schedule. The company will release its Q2 earnings results on Thursday, August 1, 2024 after market close. A conference call to discuss the results, annual guidance, and market conditions will be held on Friday, August 2, 2024, at 8:30 a.m. Eastern Time.
The call will be webcast and accessible from the Investor Relations section of Leggett & Platt's website. Dial-in information is provided for those who prefer to listen by phone. The earnings release and summary financial information slides will be posted to the company's website shortly after market close on August 1. An audio replay and transcript of the webcast will be available for 12 months following the call.
Leggett & Platt has appointed Karl Glassman as President and CEO, effective immediately. Glassman will also continue as Board Chairman. This move follows Mitch Dolloff's resignation from both roles. Dolloff will remain as a consultant for one year to support the transition. Glassman, who has a 42-year tenure at Leggett & Platt and previously served as CEO from 2016 to 2021, brings deep knowledge of the company's operations and markets. Lead Independent Director Robert Brunner expressed confidence in Glassman's ability to navigate current market challenges and drive long-term growth. The company also thanked Dolloff for his 20 years of service.
Leggett & Platt held its annual meeting, electing directors, ratifying auditors, endorsing executive compensation, and approving stock plan amendments. The diversified manufacturer provides components for homes, automobiles, bedding, furniture, and aerospace.
Leggett & Platt reported 1Q sales of $1.1 billion, a 10% decrease vs the previous year. The company announced a second quarter dividend of $.05 per share and updated its 2024 sales and EPS guidance. The restructuring plan is on track, aiming to optimize operations and improve margins. The company's capital allocation priorities include strengthening the balance sheet, reducing the dividend to accelerate deleveraging, and focusing on long-term profitable growth opportunities.
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