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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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.

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Leggett & Platt's topline and bottom line fell, but its cash and cash flow are still sound, and a dividend cut is unlikely in the near term. Its cash conversion cycle is still held up while retained earnings are still at a higher level, and the macro pressure remains but is seen largely priced in. Historically, the company has weathered more volatile periods than where it is currently but managed to grow and expand organically.

Leggett & Platt: Down But Not Out From A Historical Perspective

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Dividend-focused companies like Altria Group, Verizon, and Enbridge are experiencing negative years while AI and big tech drive major indices. Leggett & Platt, a Dividend King, has seen a -24.64% YTD decline due to softened demand and lowered guidance. The tightening economy and high-interest rates are impacting Leggett & Platt, but its long-term track record and high dividend yield make it an interesting investment opportunity.

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With a new trading month already in full swing it is time, once again, to highlight some of my potential stock purchases. The reality of the day is that we'll continue to see stock prices continue to come down as interest rates rise. No reason to believe interest rates will stop climbing anytime soon (though recent odds are placing rate hikes at a pause).

September 2023 Stock Considerations

Leggett & Platt is an industrial company with a heavy focus on the bedding and furniture sectors. The stock has fallen since I bought it, but I'm not particularly worried.

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With August ending, and the markets still humming along relatively flat, I decided to add to some of my existing positions. I couldn't resist these juicy yields, as a result of stock price declines, and decided to deploy another small batch of fresh capital this month. My preferred method has always been to dollar-cost average into stocks.

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Value is starting to outperform, as typically happens after a red-hot tech run. Leggett & Platt, Incorporated is among the best ultra-yield dividend bargains for anyone confident in the company's turnaround plan. Leggett & Platt is trading at its highest yield in 14 years, and trades at 10.3x cash-adjusted earnings, a 15% lower valuation than billionaires are paying for their deals.

Leggett & Platt: Best Time In 14 Years To Buy This 6.4%-Yielding Dividend King

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Leggett & Platt's (LEG) second-quarter results reflect lower residential end-market demand due to macroeconomic volatility. Yet, Specialized Products' growth aids the company.

Leggett & Platt (LEG) Lags Q2 Earnings & Sales, Lowers Guidance

Leggett & Platt, Incorporated (NYSE:LEG ) Q2 2023 Earnings Conference Call August 1, 2023 8:30 AM ET Company Participants Susan McCoy – Senior Vice President-Investor Relations Mitch Dolloff – President and Chief Executive Officer Ben Burns – Executive Vice President and Chief Financial Officer Steve Henderson – Executive Vice President and President–Specialized Products and Furniture, Flooring and Textile Products Tyson Hagale – Executive Vice President and President–Bedding Products Conference Call Participants Susan Maklari – Goldman Sachs Bobby Griffin – Raymond James Keith Hughes – Truist Securities Peter Keith – Piper Sandler Operator Greetings, and welcome to the LEG 2Q 2023 Webcast and Earnings Conference Call. At this time all participants are in a listen-only mode.

Leggett & Platt, Incorporated (LEG) Q2 2023 Earnings Call Transcript

While the top- and bottom-line numbers for Legget & Platt (LEG) give a sense of how the business performed in the quarter ended June 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Compared to Estimates, Legget & Platt (LEG) Q2 Earnings: A Look at Key Metrics

News for Leggett & Platt Stock (LEG)