Leggett & Platt Inc
NYSE:LEG

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Leggett & Platt Inc
NYSE:LEG
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Price: 10.18 USD 5.06% Market Closed
Market Cap: 1.4B USD

Leggett & Platt Inc
Investor Relations

Leggett & Platt Inc. embodies the ingenuity of American manufacturing, weaving its storied history into the fabric of everyday life. Founded in 1883 by J.P. Leggett and C.B. Platt in Carthage, Missouri, the company originally launched with a focus on bedding components. This dedication to a simple design—initially an innovative bedspring—has blossomed over more than a century into a vast product empire. Today, Leggett & Platt operates through multiple segments, including Bedding Products, Furniture Products, and Specialized Products, serving both households and businesses worldwide. The company leverages its deep expertise in engineering and design, applying it to a myriad of applications that range from car seat mechanisms to steel drawn wires, thereby ensuring it remains deeply interwoven into multiple consumer and industrial markets.

The genius of Leggett & Platt lies in its ability to generate revenues by anchoring its operations in essential, often unseen components that power products across various industries. Despite their presence in niche markets, the company cleverly capitalizes on the volume-driven nature of these sectors. By introducing innovations and maintaining robust partnerships with manufacturers and retailers, Leggett & Platt ensures continuous demand for its products. By placing high value on operational efficiency and diverse geographic presence, they secure a steady cash flow. Their unassuming components may not gain individual recognition, but by being integral to the construction of goods people use daily—like furniture and automobiles—Leggett & Platt reaffirms its position as a silent giant of the manufacturing world.

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Earnings Calls

2024 Q3
Oct 29, 2024
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Leggett & Platt Faces Weaker Demand, Revises 2024 Guidance Downward
2024 Q3
Oct 29, 2024

Leggett & Platt reported third-quarter sales of $1.1 billion, down 6% year-over-year due to decreased demand and raw material price drops. Key segments saw sales declines: Bedding Products down 8%, Specialized Products down 6%, and Furniture, Flooring, and Textile Products down 4%. For 2024, the company revised revenue guidance to $4.3 billion to $4.4 billion, a 7%-9% decline from the previous year, and EPS guidance to $1 to $1.10, down from $1.10 to $1.25. They anticipate mid-single-digit volume reductions, focusing on debt reduction and restructuring initiatives expected to yield up to $60 million in annual EBIT benefits by 2025.

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Management

Mr. Karl G. Glassman
President, CEO & Chairman
No Bio Available
Mr. Benjamin M. Burns
Executive VP & CFO
No Bio Available
Mr. J. Mitchell Dolloff
Executive Officer
No Bio Available
Mr. J. Tyson Hagale
Executive VP & President of Bedding Products
No Bio Available
Ms. Tammy M. Trent
Senior VP & Chief Accounting Officer
No Bio Available
Ms. Cassie J. Branscum
Vice President of Investor Relations
No Bio Available
Ms. Jennifer Joy Davis
Executive VP & General Counsel
No Bio Available
Ms. Christina A. Ptasinski
Executive Vice President & Chief HR Officer
No Bio Available
Mr. Charles P. Hutchins
VP & Chief Tax Officer
No Bio Available
Mr. Darrel E. Wild
VP & Chief Credit Officer
No Bio Available

Contacts

Address
MISSOURI
Carthage
No. 1 Leggett Road
Contacts
+14173588131.0
www.leggett.com