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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.
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.
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.