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 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.
Leggett & Platt announced significant executive changes, with Karl Glassman retiring as CEO on December 31, 2021 to become Executive Chairman. Mitch Dolloff, currently President and COO, will assume the CEO and President roles starting January 1, 2022. Glassman praised Dolloff's leadership in transforming the Automotive and Bedding businesses, driving global growth. The company, 138 years old with a strong presence in the S&P 500 and notable for dividend reliability, operates with approximately 20,000 employees across 130 facilities worldwide.
Leggett & Platt has declared a fourth quarter dividend of $.42 per share, marking a 5% increase from Q4 2020. The dividend is set for payment on January 14, 2022, to shareholders recorded by December 15, 2021. This announcement highlights the company's commitment to returning value to shareholders, as it has raised its annual dividend for 50 consecutive years. With an annual indicated dividend yield of 3.8%, Leggett & Platt remains a strong performer among S&P 500 Dividend Aristocrats.
Leggett & Platt reported record Q3 sales of $1.32 billion, a 9% increase from the previous year. However, EBIT decreased by $6 million to $144 million, and EPS fell to $0.71, down $0.08 year-over-year. The company anticipates 2021 sales between $5.0–$5.1 billion and EPS of $2.86–$2.96. Challenges included a 6% drop in volume due to supply chain issues and inflation. Net debt stood at 2.41x trailing EBITDA, with operating cash flow at $50 million. A third-quarter dividend of $0.42 was declared.