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.

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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.

CARTHAGE, Mo. , May 8, 2024 /PRNewswire/ -- Leggett & Platt's annual meeting of shareholders was held this morning in Carthage, Missouri.

LEGGETT & PLATT ANNOUNCES ANNUAL MEETING RESULTS

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In April, we (my wife and I) received a dividend income total of $2,431.31.

Dividend Income: Lanny's April 2024 Summary

Its first-quarter results featured declines in key fundamentals. The company also made a deep dividend cut.

Why Leggett & Platt Stock Was Lagging This Week

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

Leggett (LEG) Lags on Q1 Earnings & Sales, Cuts Dividend by 89%

Leggett & Platt, Incorporated (NYSE:LEG ) Q1 2024 Earnings Call Transcript May 1, 2024 8:30 AM ET Company Participants Cassie Branscum - VP, IR Mitchell Dolloff - President & CEO Benjamin Burns - EVP & CFO Tyson Hagale - EVP & President, Bedding Products Conference Call Participants Susan Maklari - Goldman Sachs Bobby Griffin - Raymond James Peter Keith - Piper Sandler Keith Hughes - Truist Securities Operator Greetings and welcome to the Leggett & Platt First Quarter 2024 Webcast and Earnings Conference Call. At this time, all participants are in a listen-only mode.

Leggett & Platt, Incorporated (LEG) Q1 2024 Earnings Call Transcript

Leggett & Platt (NYSE: LEG) stock price plunged by more than 37% on Wednesday as the company lost its dividend king status. It crashed to a low of $11.5, its lowest level since  October 11th.

Leggett & Platt (LEG) stock slips as it loses its dividend king status

Although the revenue and EPS for Legget & Platt (LEG) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Legget & Platt (LEG) Reports Q1 Earnings: What Key Metrics Have to Say

Legget & Platt (LEG) came out with quarterly earnings of $0.23 per share, missing the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.39 per share a year ago.

Legget & Platt (LEG) Q1 Earnings and Revenues Miss Estimates

CARTHAGE, Mo. , April 30, 2024 /PRNewswire/ --  1Q sales of $1.1 billion, a 10% decrease vs 1Q23 1Q EPS and adjusted1 EPS of $.23, a decrease of $.16 vs 1Q23 Board declared second quarter dividend of $.05 per share Company updated capital allocation priorities 2024 sales and EPS guidance unchanged: sales of $4.35–$4.65 billion; EPS of $.95–$1.25 and adjusted1 EPS of $1.05–$1.35 President and CEO Mitch Dolloff commented, "First quarter results were in line with our expectations and our full year sales and EPS guidance range remain unchanged.

LEGGETT & PLATT REPORTS 1Q RESULTS, ANNOUNCES 2Q DIVIDEND OF $.05 AND UPDATES CAPITAL ALLOCATION PRIORITIES

Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Legget & Platt (LEG), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended March 2024.

Gear Up for Legget & Platt (LEG) Q1 Earnings: Wall Street Estimates for Key Metrics

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Legget & Platt (LEG) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Legget & Platt (LEG) Expected to Beat Earnings Estimates: What to Know Ahead of Q1 Release

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Leggett & Platt has a strong dividend track record, but its current payout ratio of 175% is unsustainable and may lead to a dividend cut.

Leggett & Platt: Dividend King Status At Stake As Tough Environment Set To Persist

Carthage, MO, April 16, 2024 (GLOBE NEWSWIRE) -- Leggett & Platt (NYSE:LEG), a diversified manufacturer of engineered products serving several major markets, will release first quarter earnings results on Tuesday, April 30, 2024 after the market closes, and hold its quarterly conference call to discuss first quarter results, annual guidance, market conditions, company initiatives, and related matters on Wednesday, May 1, 2024, at 8:30 a.m. Eastern Time (7:30 a.m. Central Time).

LEGGETT & PLATT ANNOUNCES 1Q 2024 EARNINGS CALL

Leggett & Platt, Inc. is facing lower sales, shrinking margins, and declining return on invested capital, putting its dividend king status at risk. The company has years ahead before it can see any growth in sales. The well-diversified product line does provide some strength for facing uncertain times.

Leggett & Platt: Lower Sales And Worsening Margins Are Bad News For This King

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"What is a Dividend King? A stock with 50 or more consecutive years of dividend increases."—suredividend.com. The 55 Dividend Kings screened as of April 10 represented 9 of 11 Morningstar Sectors. Broker targeted-top-ten net-gains ranged 15.19%-33.38% topped-by Middlesex Water, and SJW Group. By yield, Leggett tops-all. Top-ten April Kings: FRT, UBSI, FTS, BKH, NWN, CDUAF, MMM, UVV, MO, & LEG averaged 6.24% in yield.

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CARTHAGE, Mo., March 25, 2024 /PRNewswire/ -- Diversified manufacturer Leggett & Platt announced today that it has entered into an amended agreement for its existing revolving credit facility to provide additional borrowing capacity and financial flexibility.

LEGGETT & PLATT AMENDS CREDIT AGREEMENT

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Leggett & Platt, Incorporated stock has tanked due to a disappointing earnings outlook and a corporate restructuring plan. The company's net sales declined by $400 million and expenses grew in 2023, leading to a net loss. Despite the challenges, the Leggett & Platt dividend is still covered by free cash flow.

News for Leggett & Platt Stock (LEG)