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 the first quarter 2025. The company will pay shareholders a dividend of $0.05 per share on April 15, 2025, with a record date of March 14, 2025.
The 142-year-old company is a diversified manufacturer specializing in engineered components found in homes and automobiles. LEG's product portfolio includes bedding components, automotive seat systems, furniture components, flooring underlayment, hydraulic cylinders, and aerospace tubing. The company is particularly known for its position as a leading supplier of bedding components and private label finished goods.
Leggett & Platt (LEG) reported Q4 2024 results with sales of $1.1 billion, down 5% year-over-year, and full-year 2024 sales of $4.4 billion, a 7% decrease from 2023. Q4 EPS was $0.10, while adjusted EPS was $0.21. Full-year 2024 resulted in a loss of $3.73 per share, with adjusted EPS of $1.05.
The company reduced debt by $126 million in 2024 and realized $22 million in EBIT benefit from restructuring activities. The restructuring plan is expected to deliver annualized EBIT benefits of $60-$70 million by late 2025.
For 2025, LEG forecasts sales between $4.0-$4.3 billion, representing a 2-9% decrease versus 2024, with EPS guidance of $0.83-$1.24 and adjusted EPS of $1.00-$1.20. The company continues to explore a potential sale of its Aerospace Group and appointed Sam Smith as President of the Specialized Products segment.
Leggett & Platt (NYSE:LEG) has scheduled its fourth quarter and full year 2024 earnings release for Thursday, February 13, 2025, after market close. The company will host a conference call on Friday, February 14, 2025, at 8:30 a.m. Eastern Time to discuss the results, annual guidance, market conditions, and company initiatives.
The conference call will be accessible via webcast from the company's Investor Relations website, with dial-in available at 201-689-8341 (no passcode required). Earnings release and summary financial information slides will be posted to the website on February 13 after market close. The webcast audio replay and transcript will remain available on the website for 12 months.
Leggett & Platt, a 142-year-old diversified manufacturer, produces engineered components for bedding, automotive, furniture, geo components, flooring, material handling, and aerospace industries.
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.
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