Leggett & Platt Inc Stock Price, News & Analysis

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.

Leggett & Platt reported strong 1Q results with record sales of $1.32 billion, a 15% increase from 1Q21. EBIT reached $138 million, up $10 million, while EPS increased to $0.66, reflecting both revenue growth and improved cash flow. Organic sales grew 13%, despite a 4% volume decline due to demand softness in bedding markets. The company maintained its 2022 guidance with projected sales of $5.3–$5.6 billion and EPS of $2.70–$3.00. Challenges include supply chain constraints and inflationary pressures on costs.

Leggett & Platt (NYSE:LEG) will announce its first quarter earnings on May 2, 2022, after market closure. A conference call to discuss the results, along with annual guidance and market conditions, is scheduled for May 3, 2022, at 8:30 a.m. ET. Access to the call will be via webcast on their website. With 130 manufacturing facilities across 17 countries, Leggett & Platt is a leader in products such as bedding components and automotive systems, serving diverse markets.

Leggett & Platt has elected Angela Barbee to its Board of Directors, effective immediately. Ms. Barbee, 56, previously served as Senior Vice President – Technology and Global R&D at Weber, Inc., and has extensive experience in engineering and product development at Kohler Company and General Motors. Her educational background includes a bachelor's and master's degree in Mechanical Engineering. Executive Chairman Karl Glassman expressed confidence in her skills, emphasizing her international experience in innovation and management. This addition to the board may enhance Leggett's strategic direction.

Leggett & Platt has declared a first quarter dividend of $.42 per share, reflecting a 5% increase from the first quarter of 2021. This dividend will be payable on April 15, 2022, to shareholders recorded by March 15, 2022. With an annual indicated dividend of $1.68 per share, the yield stands at 4.4%. Notably, the company has consistently raised its annual dividends for 50 consecutive years, marking it as one of the prominent Dividend Kings in the market.

Leggett & Platt reported record sales of $1.333 billion for Q4 2021, up 13% YoY, despite challenges like supply chain issues and inflation. FY 2021 sales reached $5.073 billion, marking a 19% increase, with EPS hitting a record $2.94. CEO Mitch Dolloff mentioned the company's commitment to return value to shareholders, having increased dividends for 50 consecutive years. For 2022, the firm expects sales between $5.3–$5.6 billion and EPS of $2.70–$3.00. The company remains well-positioned for growth despite ongoing macroeconomic challenges.

Leggett & Platt (NYSE:LEG) will announce its fourth quarter earnings on February 7, 2022, after market close, followed by a conference call on February 8, 2022, at 8:30 a.m. ET. The company serves diverse markets with a range of engineered products, operating 130+ manufacturing facilities across 18 countries and employing around 20,000 individuals. Leggett & Platt is recognized as one of Fortune's World Most Admired Companies and is the leading U.S. manufacturer of various bedding and automotive components.