Leggett & Platt, Incorporated (NYSE:LEG) Q1 2024 Earnings Call Transcript May 1, 2024 8:30 AM ET Company Participants Cassie Branscum - VP, IR Mitchell Dolloff - President & CEO Benjamin Burns - EVP & CFO Tyson Hagale - EVP & President, Bedding Products Conference Call Participants Susan Maklari - Goldman Sachs Bobby Griffin - Raymond James Peter Keith - Piper Sandler Keith Hughes - Truist Securities Operator Greetings and welcome to the Leggett & Platt First Quarter 2024 Webcast and Earnings Conference Cal ...

| --- | --- | |----------|-------------------------------------------------------------------------------------------------------------------------------| | | Financial Summary | | | | | Overview | | | o | Q1 sales of $1.1 billion, a 10% decrease vs. Q1-23 | | | Volume was down 6% Raw material-related price decreases reduced sales 4% EBIT of $64 million, down $25 million vs. Q1-23 EBIT | | o | | | o | EBIT margin 5.8%, down 160 bps vs. Q1-23 EBIT margin of 7.4% | | o | EPS of $.23, down $.16 vs. Q1-23 EPS o ...

Legget & Platt (LEG) reported $1.1 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 9.6%. EPS of $0.23 for the same period compares to $0.39 a year ago.The reported revenue represents a surprise of -1.53% over the Zacks Consensus Estimate of $1.11 billion. With the consensus EPS estimate being $0.25, the EPS surprise was -8.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

Legget & Platt (LEG) came out with quarterly earnings of $0.23 per share, missing the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -8%. A quarter ago, it was expected that this engineered component manufacturer would post earnings of $0.26 per share when it actually produced earnings of $0.26, delivering no surprise.Over the last four quarters, ...

Exhibit 99.1 FOR IMMEDIATE RELEASE: APRIL 30, 2024 LEGGETT & PLATT REPORTS 1Q RESULTS, ANNOUNCES 2Q DIVIDEND OF $.05 AND UPDATES CAPITAL ALLOCATION PRIORITIES Carthage, MO, April 30, 2024 --- President and CEO Mitch Dolloff commented, "First quarter results were in line with our expectations and our full year sales and EPS guidance range remain unchanged. We are making steady progress on the restructuring plan announced in January to optimize our manufacturing and distribution footprint and remain on track ...

CARTHAGE, Mo., April 30, 2024 /PRNewswire/ --  1Q sales of $1.1 billion, a 10% decrease vs 1Q23 1Q EPS and adjusted1 EPS of $.23, a decrease of $.16 vs 1Q23 Board declared second quarter dividend of $.05 per share Company updated capital allocation priorities 2024 sales and EPS guidance unchanged: sales of $4.35–$4.65 billion; EPS of $.95–$1.25 and adjusted1 EPS of $1.05–$1.35 President and CEO Mitch Dolloff commented, "First quarter results were in line with our expectations and our full year sales and E ...

Analysts on Wall Street project that Legget & Platt (LEG) will announce quarterly earnings of $0.25 per share in its forthcoming report, representing a decline of 35.9% year over year. Revenues are projected to reach $1.11 billion, declining 8.2% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company announces its ...

High-yield stocks often catch the eye of investors due to the seemingly significant, tangible returns on investment. Yet, not all that glitters is gold. In fact, it’s often the case that many names offering outsized yields are attached to a number of risks. Some mask such lurking risks beneath their attractive yields, these are known as dividend yield traps.A yield trap occurs when a stock’s dividend appears enticingly high, often above the industry average or historical norms. Yet, what one can initially p ...

Carthage, MO, April 16, 2024 (GLOBE NEWSWIRE) -- Leggett & Platt (NYSE:LEG), a diversified manufacturer of engineered products serving several major markets, will release first quarter earnings results on Tuesday, April 30, 2024 after the market closes, and hold its quarterly conference call to discuss first quarter results, annual guidance, market conditions, company initiatives, and related matters on Wednesday, May 1, 2024, at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). This call will be webcast and ...

gerisima/iStock via Getty Images Investment Thesis Years of lower sales, shrinking ROIC, and declining margins add to the many risks ahead for Leggett & Platt, Incorporated (NYSE:LEG). This Dividend King could even lose its crown if their situation does not improve. Bedding And Bedding Accessories Leggett & Platt is a company that makes various consumer-discretionary products, particularly bedding products like mattress springs, adjustable beds, steel rods, and others. They also offer home furniture produ ...