Leggett & Platt Closes the Sale of its Aerospace Products Group
Leggett & Platt (NYSE:LEG) has completed the sale of its Aerospace Products Group to Tinicum Incorporated's affiliated funds for expected after-tax proceeds of $250 million. The divested business, which generated $190 million in net trade sales in 2024, includes seven manufacturing facilities across the U.S., UK, and France with approximately 700 employees.
Following the divestiture, LEG has revised its full year 2025 guidance, with sales now projected at $3.9-$4.2 billion (down from $4.0-$4.3 billion), and adjusted EPS guidance lowered to $0.95-$1.15 (from $1.00-$1.20). The transaction is expected to contribute a $0.60 per share gain to the company's 2025 EPS.
Leggett & Platt (NYSE:LEG) ha completato la cessione del suo Aerospace Products Group ai fondi affiliati di Tinicum Incorporated per proventi attesi dopo le imposte di $250 milioni. L'attività ceduta, che ha generato $190 milioni di vendite nette commerciali nel 2024, comprende sette stabilimenti produttivi negli Stati Uniti, Regno Unito e Francia e impiega circa 700 persone.
In seguito alla dismissione, LEG ha rivisto le stime per l'intero esercizio 2025: i ricavi sono ora previsti tra $3,9 e $4,2 miliardi (da $4,0–$4,3 miliardi) e l'EPS rettificato è stato abbassato a $0,95–$1,15 (da $1,00–$1,20). L'operazione dovrebbe apportare un utile per azione straordinario di $0,60 al 2025 della società.
Leggett & Platt (NYSE:LEG) ha completado la venta de su Aerospace Products Group a los fondos afiliados de Tinicum Incorporated por ingresos netos esperados después de impuestos de $250 millones. El negocio vendido, que generó $190 millones en ventas netas comerciales en 2024, incluye siete instalaciones de fabricación en EE. UU., Reino Unido y Francia y emplea aproximadamente a 700 personas.
Tras la desinversión, LEG ha revisado sus previsiones para todo el año 2025: las ventas se proyectan ahora entre $3,9 y $4,2 mil millones (antes $4,0–$4,3 mil millones) y la EPS ajustada se ha reducido a $0,95–$1,15 (antes $1,00–$1,20). Se espera que la transacción aporte una ganancia por acción de $0,60 al EPS de la compañía en 2025.
Leggett & Platt (NYSE:LEG)는 Aerospace Products Group을 Tinicum Incorporated 계열 펀드에 매각을 완료했으며, 세후 예상 대금은 $250 million입니다. 매각된 사업부는 2024년에 $190 million의 순매출을 기록했으며, 미국·영국·프랑스에 걸쳐 7개의 제조 시설과 약 700명의 직원을 보유하고 있습니다.
이번 매각에 따라 LEG는 2025회계연도 전체 가이던스를 수정했습니다. 매출은 이제 $3.9–$4.2 billion으로(기존 $4.0–$4.3 billion에서 하향) 조정되었고, 조정 EPS 가이던스는 $0.95–$1.15(기존 $1.00–$1.20)로 낮아졌습니다. 해당 거래는 회사의 2025 EPS에 주당 $0.60의 이익을 추가할 것으로 예상됩니다.
Leggett & Platt (NYSE:LEG) a finalisé la vente de son Aerospace Products Group aux fonds affiliés de Tinicum Incorporated pour un produit attendu après impôts de 250 millions de $. L'activité cédée, qui a généré 190 millions de $ de ventes nettes commerciales en 2024, comprend sept sites de production aux États‑Unis, au Royaume‑Uni et en France et emploie environ 700 personnes.
À la suite de cette cession, LEG a révisé ses prévisions pour l'exercice 2025 : le chiffre d'affaires est désormais attendu entre 3,9 et 4,2 milliards de $ (contre 4,0–4,3 milliards $ précédemment) et le BPA ajusté a été abaissé à 0,95–1,15 $ (contre 1,00–1,20 $). La transaction devrait apporter un gain par action de 0,60 $ au BPA 2025 de la société.
Leggett & Platt (NYSE:LEG) hat den Verkauf seiner Aerospace Products Group an die zu Tinicum Incorporated gehörenden Fonds abgeschlossen und erwartet einen nach Steuern ausgewiesenen Erlös von $250 Millionen. Das veräußerte Geschäft erzielte 2024 Nettoumsätze von $190 Millionen und umfasst sieben Produktionsstätten in den USA, Großbritannien und Frankreich sowie rund 700 Beschäftigte.
Nach der Veräußerung hat LEG seine Prognose für das Gesamtjahr 2025 angepasst: Der Umsatz wird nun mit $3,9–$4,2 Milliarden (zuvor $4,0–$4,3 Milliarden) prognostiziert, und die bereinigte EPS-Prognose wurde auf $0,95–$1,15 (zuvor $1,00–$1,20) gesenkt. Die Transaktion dürfte dem Ergebnis je Aktie 2025 einen Gewinn von $0,60 je Aktie hinzufügen.
- None.
- Reduction in full year 2025 sales guidance by $100 million
- Decrease in adjusted EPS guidance range by $0.05
- Lower implied adjusted EBIT margin guidance from 6.5%-6.9% to 6.3%-6.7%
- Loss of $190 million revenue stream from Aerospace Products Group
Insights
Leggett & Platt sold its Aerospace division for $250M, using proceeds to reduce debt while slightly lowering 2025 financial targets.
Leggett & Platt has completed the strategic divestiture of its Aerospace Products Group to Tinicum Incorporated, generating approximately
The divested aerospace business, which generated
The revised 2025 guidance shows the financial impact of removing this division: sales projections dropped by
Most notably, the transaction creates a
This divestiture reflects the outcome of the company's strategic business review aimed at focusing resources on operations better aligned with long-term corporate objectives. The slight adjustment to earnings guidance suggests the aerospace division, while profitable, wasn't a core growth driver that justified its continued place in the portfolio relative to the balance sheet benefits of divestiture.
Announces Subsequent Change to Full Year 2025 Guidance
The Aerospace Products Group is a supplier of complex, highly engineered tube and duct assemblies for use primarily in commercial and military aircraft platforms and space launch vehicles. The business is comprised of seven manufacturing facilities located in the
REVISED 2025 FULL YEAR GUIDANCE
As a result of the divestiture of the Aerospace Products Group, management announced it has revised full year 2025 guidance as follows:
($-Billions, except per share data) | Revised Guidance (ex- | Previous Guidance (July 31, 2025) |
Sales | ||
Implied Adjusted EBIT Margin | ||
Net Interest Expense | ||
| ||
EPS | ||
Gain on Aerospace Products Group Sale1 | - | |
Gains on Real Estate Sales | ||
Restructuring Costs | ( | ( |
Pension Settlement (non-cash) | ( | ( |
Adjusted EPS |
1 The final gain is subject to finalization of net assets and tax rates. |
All other previous guidance remains unchanged. Summations may vary slightly due to rounding. For more detailed financial information, including pro-forma results, please see the Company's Form 8-K filed with the SEC on August 29, 2025.
Lazard served as exclusive financial advisor and Freshfields served as legal advisor to Leggett & Platt in this transaction.
FOR MORE INFORMATION: Visit Leggett's website at www.leggett.com.
COMPANY DESCRIPTION: Leggett & Platt (NYSE: LEG) is a diversified manufacturer that designs and produces a broad variety of engineered components and products that can be found in many homes and automobiles. The 142-year-old Company is a leading supplier of bedding components and private label finished goods; automotive seat comfort and convenience systems; home and work furniture components; geo components; flooring underlayment; and hydraulic cylinders for material handling and heavy construction applications.
FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements," regarding the amount of after-tax cash proceeds from the Aerospace disposition (the "Disposition"), sales, implied adjusted EBIT margin, net interest expense, EPS, adjusted EPS, net assets, effective tax rate, gain on sale of the Disposition and real estate, restructuring costs, and pension settlement. Such statements are expressly qualified by the cautionary statements described in this section and reflect only the beliefs and expectations of Leggett at the time the statement is made. Because forward-looking statements deal with the future, they are subject to risks, uncertainties, and developments which might cause actual events or results to differ materially from those envisioned in any forward-looking statement. Moreover, Leggett does not have, and does not undertake, any duty to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement was made. Forward-looking statements should not be relied upon as a prediction of actual future events, objectives, strategies, trends, or results. Some risks and uncertainties that may cause actual events or results to differ materially from forward-looking statements include: increased trade costs, including tariffs; estimates for our Restructuring Plan ("Plan") may change, our ability to timely implement the Plan and receive anticipated benefits and expected proceeds from real estate sales, and the impact on employees, customers and vendors; the adverse impact caused by: inflation and deflation; demand for our products and our customers' products; our facilities' ability to obtain raw materials, parts, and labor and to ship finished products; impairment of goodwill and long-lived assets; volatility of Chinese EV manufacturers' growth; declines in multinational OEMs' market share resulting in reduction of demand for our Automotive products; our ability to access commercial paper and debt markets, borrow under our credit facility, and comply with restrictive covenants; increased borrowing costs due to credit ratings changes; our ability to retire commercial paper borrowings and use cash to reduce debt; supply chain shortages and disruptions; our ability to manage working capital; our ability to collect receivables; market conditions; consumer confidence, housing turnover, employment levels, interest rates, and trends in capital spending; price and product competition; cost of raw materials, labor and energy; cash generation sufficient to pay debts or the dividend; cash repatriation from foreign accounts; our ability to pass along cost increases through increased selling prices; disruption of the semiconductor industry and our operations due to conflict between countries; evolving export controls over semiconductor chips, equipment, components and rare earth minerals; ability to maintain profit margins if customers change the quantity or mix of our products; political risks; tax rates; foreign operating risks; cybersecurity incidents; customer losses and insolvencies; disruption to our steel rod mill, wire mills, and other operations; severe weather events, disaster, fire, explosion, terrorism, pandemic, or governmental action; foreign currency fluctuation; share repurchases; anti-dumping and countervailing duties on innersprings, steel wire rod, and mattresses; unauthorized use of artificial intelligence; collection of insurance claims; data privacy; sustainability obligations; litigation risks; and risk factors in Leggett's Form 10-K, Form 10-Qs, and Form 8-Ks.
INVESTOR CONTACTS:
Steve West, Vice President, Investor Relations
Katelyn J. Pierce, Analyst, Investor Relations
(417) 358-8131
invest@leggett.com
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SOURCE Leggett & Platt Incorporated
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