Fourth Quarter 2024 Summary Financial Information and Restructuring Update February 13, 2025 Forward-Looking Statements Statements in this presentation that are not historical in nature are "forward-looking." These statements are identified either by the context in which they appear or by use of words such as "anticipate," "estimate," "expect," "guidance," "may," "plan," or the like. These statements include, but are not limited to, future EPS, adjusted EPS, sales, volume for the Company and per segment, ra ...

For the quarter ended December 2024, Legget & Platt (LEG) reported revenue of $1.06 billion, down 5.3% over the same period last year. EPS came in at $0.21, compared to $0.26 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.03 billion, representing a surprise of +2.16%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.21.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street e ...

Legget & Platt (LEG) came out with quarterly earnings of $0.21 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.26 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this engineered component manufacturer would post earnings of $0.33 per share when it actually produced earnings of $0.32, delivering a surprise of -3.03%.Over the last four quarters, the company has not been able to surpass consensus EPS estimates.Le ...

Sales Performance - 2024 sales were $4.4 billion, a 7% decrease compared to 2023[6] - Fourth quarter sales were $1.1 billion, a 5% decrease versus fourth quarter last year[5] - Trade sales decreased by 5% in Q4 2024 compared to Q4 2023, totaling $1,056.4 million, and decreased by 7% year-to-date, totaling $4,383.6 million[34] - Trade sales for Bedding Products decreased by 6% in Q4 2024 compared to Q4 2023, totaling $420.2 million, and year-to-date sales fell by 11% to $1,751.7 million[35] - In 2023, the company reported trade sales of $4,725.3 million, while the forecast for 2024 is $4,383.6 million, indicating a decline of approximately 7.2%[38] Earnings and Profitability - 2024 adjusted EPS was $1.05, down $0.34 versus 2023 adjusted EPS[14] - 2024 EBIT was a loss of $430 million, down $340 million from 2023 EBIT[13] - Fourth quarter EBIT was $44 million, up from a loss of $367 million in fourth quarter 2023[8] - Net earnings attributable to Leggett & Platt for Q4 2024 were $14.2 million, a significant recovery from a loss of $297.3 million in Q4 2023, while year-to-date net loss was $511.5 million compared to a loss of $136.8 million in 2023[34] - Adjusted EBIT decreased by $6 million in the Bedding Products segment, primarily due to lower volume and raw material-related pricing adjustments[28] - The company recorded a $588 million non-cash goodwill impairment charge in 2024, contributing to a $205 million decrease in EBIT for the Specialized Products segment[28] - Adjusted EBIT for the total company dropped by 16% in Q4 2024, amounting to $55.6 million, with an adjusted EBIT margin of 5.3%, down from 5.9% in Q4 2023[35] - The company experienced a 51% decrease in adjusted EBIT for Bedding Products year-to-date, falling to $45.4 million[35] - The adjusted EBIT for 2023 was $333.5 million, with a projected decrease to $266.5 million in 2024, reflecting a decline of about 20.1%[38] - The adjusted EBIT margin for 2023 was 7.1%, projected to decrease to 6.1% in 2024, indicating a decline in operational efficiency[38] Cash Flow and Debt - Operating cash flow was $306 million, a decrease of $191 million versus 2023[21] - Debt at December 31 was $1.9 billion, with a reduction of $126 million in 2024[18] - Long-term debt increased by 11% from $1,679.6 million in 2023 to $1,862.8 million in 2024[34] - Cash and equivalents decreased from $365.5 million in 2023 to $350.2 million in 2024[34] - Long-term debt to adjusted EBITDA ratio was reported at 3.76, indicating a stable leverage position[36] - The net debt to adjusted EBITDA ratio increased from 3.16 in 2023 to 3.76 in 2024, suggesting a higher leverage position[38] - The company reported a net debt of $1,622.1 million in 2023, which is expected to decrease to $1,513.9 million in 2024[38] Future Outlook - 2025 guidance expects sales of $4.0–$4.3 billion, with EPS of $0.83–$1.24[6] - Anticipated cash proceeds from real estate sales related to restructuring are expected to be $15–$40 million in 2025[21] - Management will host a conference call on February 14, 2025, to discuss the financial results and future outlook[29] Operational Efficiency - The company plans to continue focusing on operational efficiency improvements and disciplined cost management to mitigate the impact of raw material price fluctuations[32] - The company incurred restructuring and impairment charges totaling $49.8 million in 2024, impacting overall profitability[38] Asset Management - Total assets decreased by 21% from $4,634.5 million in 2023 to $3,661.6 million in 2024, with total current assets down 10%[34] - The company recorded a gain on the sale of real estate of $(30.9) million in 2024, which may affect cash flow and liquidity[39]

Leggett & Platt, Incorporated (LEG) is scheduled to release fourth-quarter 2024 results on Feb. 13, after market close.In the last reported quarter, the company’s earnings and trade sales missed the Zacks Consensus Estimate by 3% and 0.4%, respectively. On a year-over-year basis, both metrics declined 11% and 6%, respectively.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Leggett’s earnings topped the consensus mark in two of the trailing four quarters and missed on two occasions, wi ...

Wall Street analysts forecast that Legget & Platt (LEG) will report quarterly earnings of $0.21 per share in its upcoming release, pointing to a year-over-year decline of 19.2%. It is anticipated that revenues will amount to $1.03 billion, exhibiting a decline of 7.3% compared to the year-ago quarter.The consensus EPS estimate for the quarter has been revised 3.1% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial ...

Carthage, MO, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Leggett & Platt (NYSE:LEG), a diversified manufacturer of engineered products serving several major markets, will release fourth quarter and full year earnings results on Thursday, February 13, 2025 after the market closes, and hold its quarterly conference call to discuss fourth quarter and full year results, annual guidance, market conditions, company initiatives and related matters on Friday, February 14, 2025, at 8:30 a.m. Eastern Time (7:30 a.m. Central T ...

Carthage, MO, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Leggett & Platt (NYSE:LEG), a diversified manufacturer of engineered products serving several major markets, will release fourth quarter and full year earnings results on Thursday, February 13, 2025 after the market closes, and hold its quarterly conference call to discuss fourth quarter and full year results, annual guidance, market conditions, company initiatives and related matters on Friday, February 14, 2025, at 8:30 a.m. Eastern Time (7:30 a.m. Central T ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of ...

Leggett & Platt, Incorporated (NYSE: LEG ) recently announced a number of transformations that may include the sale of one business segment. Given the company's long history in the bedding industry, it is likely that LEG continues its operations for manyLike the common kingfisher or Alcedo Atthis searches for small fish, I research small, and medium cap companies in Europe, the United States, and South America. You can find a common kingfisher in my profile.With close to 14 years in the financial industry, ...