Q2 sales of $1.22 billion, an 8% decrease vs. Q2-22 Currency impact was flat Adjusted1 EBIT margin 7.5%, down 320 bps vs. 10.7% in Q2-22 Adjusted EPS: $1.45–$1.65 Q2 2023 Financial Highlights | --- | --- | --- | |----------------------------------------------------------|---------|-------------| | Sales: | mln $'s | % change | | 2 nd Qtr 2022 | $1,334 | | | Approx volume decrease | (84) | (6%) | | Approx raw material-related pricing and currency impact | (69) | (5%) | | Organic Sales | (153) | (11%) | | Acq ...

Leggett & Platt, Incorporated (NYSE:LEG) Q2 2023 Earnings Conference Call August 1, 2023 8:30 AM ET Company Participants Susan McCoy – Senior Vice President-Investor Relations Mitch Dolloff – President and Chief Executive Officer Ben Burns – Executive Vice President and Chief Financial Officer Steve Henderson – Executive Vice President and President–Specialized Products and Furniture, Flooring and Textile Products Tyson Hagale – Executive Vice President and President–Bedding Products Conference Call Partici ...

Financial Performance - Trade sales for the first quarter of 2023 were $1,214 million, a decrease of 8% compared to the first quarter of 2022[71]. - EPS for the first quarter of 2023 was $0.39, down from $0.66 in the same period of 2022[71]. - EBIT for the first quarter of 2023 was $89 million, a decrease of $48 million compared to the same period in 2022[71]. - Trade sales for the first three months of 2023 were $1,214 million, an 8% decrease compared to the same period last year, with organic sales down 11%[111]. - EBIT decreased by 35% to $89 million, primarily due to lower volume and lower metal margin in the Steel Rod business[112]. - EPS for the first quarter of 2023 was $0.39, down from $0.66 in the same period of 2022, reflecting lower EBIT[112]. - The worldwide effective tax rate for the first quarter of 2023 was 22%, compared to 23% for the same quarter last year[114]. Cash Flow and Working Capital - Operating cash flow increased by $58 million to $97 million in the first quarter of 2023 compared to the same period of 2022[72]. - Cash from operations for the three months ended March 31, 2023, was $97 million, an increase of $58 million from the same period last year[125]. - Adjusted working capital as a percentage of annualized trade sales was 15.8% for the first quarter of 2023, compared to 15.3% for the fourth quarter of 2022[127]. - Trade receivables increased, with DSO rising compared to December 31, 2022, primarily due to sales growth in the Specialized segment and seasonality effects[130]. - Approximately $50 million of trade receivables were sold as of March 31, 2023, reducing quarterly DSO by roughly four days[134]. Segment Performance - The Bedding Products segment contributed 44% of trade sales in the first three months of 2023[77]. - The Specialized Products segment contributed 26% of trade sales in the first three months of 2023[78]. - The Furniture, Flooring & Textile Products segment contributed 30% of trade sales in the first three months of 2023[79]. - Bedding Products trade sales decreased by $111 million, or 17%, with organic sales also down 17%[119]. - Specialized Products trade sales increased by $57 million, or 21%, driven by volume growth of 11% and raw material-related selling price increases of 2%[120]. - Furniture, Flooring & Textile Products trade sales decreased by $54 million, or 13%, with organic sales down 15%[122]. Debt and Capital Expenditures - Total debt outstanding is $2.1 billion, with $9 million due within 12 months and the remainder maturing through 2051[139]. - Capital expenditures are expected to be between $100 million and $130 million in 2023, with $38 million spent as of March 31, 2023[141]. - The company has a $1.2 billion commercial paper program, with $317 million outstanding as of March 31, 2023[137]. Dividends and Share Repurchases - A quarterly dividend of $0.44 per share was declared, representing a 4.8% increase compared to the first quarter of 2022[142]. - Share repurchases totaled 0.1 million shares at an average price of $34.04 during the first quarter of 2023[145]. Market Conditions and Expectations - The company expects overall demand in 2023 to be slightly lower than levels experienced in 2022 due to macroeconomic pressures[87]. - The company has experienced fluctuations in raw material costs, particularly steel, which significantly impacts earnings and pricing strategies[88][90]. Assets and Liabilities - The company had cash and cash equivalents of $345 million as of March 31, 2023, primarily held in interest-bearing accounts[123]. - Inventories and DIO decreased as of March 31, 2023, compared to both December 31, 2022, and March 31, 2022, due to reductions to support current demand[131]. - Accounts payable increased while DPO remained flat as of March 31, 2023, primarily due to the timing of steel scrap purchases[133]. - As of March 31, 2023, goodwill and other intangible assets represented $2.1 billion, or 40% of total assets[173]. Corporate Governance and Compliance - The company has a formal process for incident response and cybersecurity continuous improvement, with a Cybersecurity Oversight Committee updating the Board quarterly[170]. - The company has not experienced material climate-related compliance costs to date, but is evaluating opportunities to reduce its carbon footprint[167]. - The company expects to publish its ESG objectives, goals, and targets, including climate-related goals in 2023 or the first half of 2024[168]. Miscellaneous - The company did not acquire any businesses in the first three months of 2023 or 2022, with minimal acquisition activity expected for the full year[144]. - The company has approximately 135 production facilities in 18 countries, primarily located in North America, Europe, and Asia[160]. - The company has issued accounting guidance effective for the current and future periods[180]. - The company has not independently verified data from industry analyses and cannot guarantee their accuracy or completeness[184].

Leggett & Platt, Incorporated (NYSE:LEG) Q1 2023 Earnings Conference Call May 2, 2023 8:30 AM ET Company Participants Susan McCoy – Senior Vice President-Investor Relations Mitch Dolloff – President and Chief Executive Officer Jeff Tate – Executive Vice President and Chief Financial Officer Steve Henderson – Executive Vice President and President-Specialized Products and Furniture, Flooring and Textile Products segments Tyson Hagale – Executive Vice President and President-Beddings Products Segment Conferen ...

May 1, 2023 Statements in this presentation that are not historical in nature are "forward-looking." These statements include future EPS, sales, volume for the Company and per segment, raw material-related price decreases, currency impacts, acquisition and divestitures impacts, metal margin decreases, moderate pricing pressure from deflation, depreciation and amortization, net interest expense, tax rate, diluted shares outstanding, operating cash, capital expenditures, amount of dividends, and implied EBIT ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-07845 LEGGETT & PLATT, INCORPORATED (Exact name of registrant as specified in its charter) Missouri 44-0324630 (State or oth ...

Leggett & Platt, Incorporated (NYSE:LEG) Q4 2022 Earnings Conference Call February 7, 2023 8:30 AM ET Company Participants Susan McCoy - Vice President, Investor Relations Mitch Dolloff - President & Chief Executive Officer Jeff Tate - Executive Vice President & Chief Financial Officer Steve Henderson - Executive Vice President & President of Specialized Products and Furniture, Flooring & Textile Products Tyson Hagale - Senior Vice President & President of the Bedding Products Cassie Branscum - Senior Direc ...

Fourth Quarter Summary Financial Information Statements in this presentation that are not historical in nature are "forward-looking." These statements include future EPS, sales, volume for the Company and per segment, raw material-related price decreases, currency impacts, acquisition and divestitures impacts, depreciation and amortization, net interest expense, tax rate, diluted shares outstanding, operating cash, capital expenditures, amount of dividends, and implied EBIT margin. All such forward-looking ...

For the transition period from to Commission File Number: 001-07845 LEGGETT & PLATT, INCORPORATED UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (I.R.S. Employer Identification No.) (417) 358-8131 Registrant's telephone number, incl ...

Third Quarter Summary Financial Information October 31, 2022 Forward-Looking Statements Statements in this presentation that are not historical in nature are "forward-looking." These statements include future EPS, sales, volume for the Company and per segment, inflationary impact from raw material price increases, currency impacts, acquisition and divestitures impacts, depreciation and amortization, net interest expense, tax rate, diluted shares outstanding, operating cash, capital expenditures, amount of d ...