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 reported a 10% decline in 4Q 2022 sales, totaling $1.2 billion, and a decrease in EPS to $.39. For 2022, sales reached a record $5.15 billion, up 1% year-over-year, but EPS fell to $2.27, a $.67 decline from 2021. The company anticipates 2023 sales between $4.8 billion and $5.2 billion and EPS of $1.50 to $1.90. Operating cash flow for 2022 was $441 million, a 63% increase. The President expressed confidence in navigating market challenges and emphasized operational efficiency and product development.
Leggett & Platt (NYSE:LEG) will release its fourth quarter earnings results on February 6, 2023, after market close. The results will be discussed in a conference call on February 7, 2023, at 8:30 a.m. ET. This call will be accessible via the Investor Relations section on Leggett & Platt’s website. The company, with a 140-year history, operates approximately 130 manufacturing facilities across 17 countries and employs around 20,000 people. Its diverse portfolio includes bedding components, automotive seating systems, and adjustable beds.
Leggett & Platt announced a fourth quarter dividend of $.44 per share, marking a 4.8% increase from Q4 2021. This dividend, payable on January 13, 2023, reflects the company’s commitment to shareholders, as it has raised annual dividends for 51 consecutive years. The indicated annual dividend yield is 5.1%, based on the closing price of $34.45 per share, further solidifying its position among the Dividend Kings.
Leggett & Platt reported third-quarter sales of $1.29 billion, a 2% decrease year-over-year. Organic sales dipped 3%, while volume fell 8% due to soft demand in residential markets, though automotive and industrial markets showed growth. EBIT declined to $113 million, down $31 million from the previous year, with an EBIT margin of 8.7%. EPS was $.52, reflecting a $.19 decrease. Despite challenges, the company maintains its full-year guidance of $5.1–$5.2 billion in sales and $2.30–$2.45 in EPS.
Leggett & Platt (NYSE:LEG) will announce its third quarter earnings on October 31, 2022, post-market close. A conference call to discuss the results and annual guidance is scheduled for November 1, 2022, at 8:30 a.m. ET. The call can be accessed via the company's Investor Relations website. Leggett & Platt, a 139-year-old diversified manufacturer, operates 130 facilities across 17 countries, providing engineered components found in homes and automobiles, primarily in the bedding and automotive sectors.
Leggett & Platt has revised its full-year 2022 sales guidance to $5.1–$5.2 billion, down from $5.2–$5.4 billion, citing lower volume as the primary reason. EPS guidance is also lowered to $2.30–$2.45 from $2.65–$2.80. The company has recently acquired a hydraulic cylinders business and two textiles businesses, which are expected to enhance operational capabilities despite current challenges. The EBIT margin is now projected at 9.5%–10.0%, with cash from operations expected to be $400–$450 million.
Leggett & Platt announced a third quarter dividend of $.44 per share, marking a 4.8% increase from the same period last year. This dividend will be distributed on October 14, 2022 to shareholders recorded by September 15, 2022. With an annual indicated dividend of $1.76 per share, the company boasts a dividend yield of 4.3%, based on a closing stock price of $40.51. Leggett & Platt has achieved an impressive 51 consecutive years of dividend increases, reinforcing its status among the Dividend Kings.
Leggett & Platt reported record quarterly sales of $1.33 billion for 2Q 2022, a 5% increase from 2Q 2021. However, EBIT dropped to $143 million, down $29 million year-over-year, primarily due to a lack of last year’s real estate gain. EPS decreased to $0.70, reflecting macroeconomic challenges. The company lowered its full-year guidance to $5.2–$5.4 billion in sales and EPS of $2.65–$2.80. Despite the challenges, Leggett increased its dividend, marking 51 consecutive years of annual increases, and repurchased $35 million of stock. Total liquidity stands at $1.3 billion.
Leggett & Platt (NYSE:LEG) announced it will release its second quarter earnings results on August 1, 2022, after market close. A quarterly conference call will follow on August 2, 2022, at 8:30 a.m. ET, discussing financial results, annual guidance, and market conditions. The call will be accessible via their website. Leggett & Platt, a leading manufacturer with 130 facilities across 17 countries, produces engineered components for bedding, automotive, furniture, and flooring markets, employing around 20,000 people.
Leggett & Platt announced a 4.8% increase in its second quarter dividend, raising it to $.44 per share. This translates to an annual indicated dividend of $1.76 per share, yielding 4.7% based on the prior day's close of $37.08. The dividend will be paid on July 15, 2022, to shareholders of record by June 15, 2022. The company has a strong history, having increased its annual dividend for 51 consecutive years. In the annual meeting, shareholders approved all Board recommendations, including the election of directors and accounting firm choices.
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