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. (NYSE: LEG) is a diversified manufacturer of engineered components and products, and its news flow reflects developments across bedding, furniture, flooring, textiles, automotive seating, hydraulic cylinders, financing, and corporate governance. The company’s own press releases emphasize that its products can be found in many homes and automobiles, and that it supplies 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.
On this news page, readers can follow Leggett & Platt announcements about quarterly earnings, segment performance, restructuring progress, and strategic portfolio actions. Recent releases furnished on Form 8-K have covered second and third quarter results, including discussions of trade sales, EBIT, adjusted EBIT, EPS, adjusted EPS, operating cash flow, and the use of non-GAAP measures such as Adjusted EBITDA and change in Organic Sales. The company also reports on its restructuring plan, including expected EBIT benefits, sales attrition, and real estate transactions.
Leggett & Platt’s news also includes corporate actions such as the completion of the sale of its Aerospace Products Group, revisions to full-year guidance following that divestiture, quarterly dividend declarations, and outcomes of its annual meeting of shareholders. In addition, the company has disclosed that it received an unsolicited, non-binding all-stock acquisition proposal from Somnigroup International Inc., and has described the Board’s process for reviewing that proposal.
Investors and observers can use this page to review Leggett & Platt’s official communications on financial performance, portfolio changes, capital structure, dividends, and potential strategic transactions, as released through news wires and referenced in SEC filings.
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.
Leggett & Platt (NYSE:LEG) will release its fourth quarter earnings results on February 6, 2023, after market close. The results will be discussed in a conference call on February 7, 2023, at 8:30 a.m. ET. This call will be accessible via the Investor Relations section on Leggett & Platt’s website. The company, with a 140-year history, operates approximately 130 manufacturing facilities across 17 countries and employs around 20,000 people. Its diverse portfolio includes bedding components, automotive seating systems, and adjustable beds.
Leggett & Platt announced a fourth quarter dividend of $.44 per share, marking a 4.8% increase from Q4 2021. This dividend, payable on January 13, 2023, reflects the company’s commitment to shareholders, as it has raised annual dividends for 51 consecutive years. The indicated annual dividend yield is 5.1%, based on the closing price of $34.45 per share, further solidifying its position among the Dividend Kings.
Leggett & Platt reported third-quarter sales of $1.29 billion, a 2% decrease year-over-year. Organic sales dipped 3%, while volume fell 8% due to soft demand in residential markets, though automotive and industrial markets showed growth. EBIT declined to $113 million, down $31 million from the previous year, with an EBIT margin of 8.7%. EPS was $.52, reflecting a $.19 decrease. Despite challenges, the company maintains its full-year guidance of $5.1–$5.2 billion in sales and $2.30–$2.45 in EPS.
Leggett & Platt (NYSE:LEG) will announce its third quarter earnings on October 31, 2022, post-market close. A conference call to discuss the results and annual guidance is scheduled for November 1, 2022, at 8:30 a.m. ET. The call can be accessed via the company's Investor Relations website. Leggett & Platt, a 139-year-old diversified manufacturer, operates 130 facilities across 17 countries, providing engineered components found in homes and automobiles, primarily in the bedding and automotive sectors.
Leggett & Platt has revised its full-year 2022 sales guidance to $5.1–$5.2 billion, down from $5.2–$5.4 billion, citing lower volume as the primary reason. EPS guidance is also lowered to $2.30–$2.45 from $2.65–$2.80. The company has recently acquired a hydraulic cylinders business and two textiles businesses, which are expected to enhance operational capabilities despite current challenges. The EBIT margin is now projected at 9.5%–10.0%, with cash from operations expected to be $400–$450 million.
Leggett & Platt announced a third quarter dividend of $.44 per share, marking a 4.8% increase from the same period last year. This dividend will be distributed on October 14, 2022 to shareholders recorded by September 15, 2022. With an annual indicated dividend of $1.76 per share, the company boasts a dividend yield of 4.3%, based on a closing stock price of $40.51. Leggett & Platt has achieved an impressive 51 consecutive years of dividend increases, reinforcing its status among the Dividend Kings.
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.