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. reports developments as a diversified manufacturer of engineered components and products used in homes, automobiles, furniture, flooring, textiles, material handling and heavy construction applications. Its business includes Bedding Products, Specialized Products, and Furniture, Flooring and Textile Products, with product categories such as bedding components and solutions, private label finished goods, automotive seat comfort and convenience systems, home and work furniture components, geo components, flooring underlayment and hydraulic cylinders.
Company news commonly covers quarterly and annual operating results, guidance, market conditions, dividends, balance-sheet priorities, restructuring and operational efficiency initiatives, governance matters, and material agreements or capital-structure disclosures.
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Leggett & Platt (NYSE:LEG) will announce its first quarter earnings results on May 1, 2023, post-market. The company will host a quarterly conference call on May 2, 2023, at 8:30 a.m. ET, to discuss quarterly performance and annual guidance. The call will be accessible via their Investor Relations website. Leggett & Platt, a diversified manufacturer, operates 15 business units with around 20,000 employees globally, producing essential components for bedding, automotive, and furniture industries. The firm is recognized as a leading U.S. manufacturer in various segments including bedding components and automotive seat support systems.
Leggett & Platt (NYSE: LEG) will present at the Raymond James 44th Annual Institutional Investors Conference on March 7, 2023, at 1:40 p.m. Eastern in Orlando, Florida. CEO Mitch Dolloff will address the investment community. Interested parties can access the webcast via the Investor Relations section of Leggett's website, with a recommendation to log on at least five minutes early. Leggett is a diversified manufacturer specializing in engineered components for homes and automobiles, with approximately 20,000 employees across 135 manufacturing facilities in 18 countries.
Leggett & Platt has declared a first-quarter dividend of $.44 per share, marking a 4.8% increase from the same period in 2022. The upcoming dividend, which translates to an annual yield of 5.2%, reflects the company's strong financial health. This dividend will be paid on April 14, 2023, to shareholders on record as of March 15, 2023. Leggett & Platt has now achieved an impressive record of increasing its annual dividends for 51 consecutive years, further solidifying its status among the Dividend Kings.
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.