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 (NYSE:LEG) will release its third quarter earnings results on November 2, 2020, after market close, followed by a conference call on November 3, 2020, at 8:30 a.m. ET. Investors can access the call via the company’s website. With 137 years of experience, Leggett & Platt is a diversified manufacturer producing engineered products for various markets, including bedding components and automotive systems. The company operates 140 manufacturing facilities across 18 countries, focusing on innovation and shareholder returns.
Leggett & Platt reported a significant 30% decline in 2Q sales, totaling $845 million, largely due to the COVID-19 pandemic. The company had a net loss of ($.05) EPS, down $.69 from the previous year. Adjusted EPS stood at $.16, reflecting an adjusted EBIT of $51 million, down 83%. Despite challenges, liquidity was reported at $1.3 billion. The board declared a third-quarter dividend of $.40 per share, to be paid on October 15, 2020.