peepo/E+ via Getty Images Small Caps that used to be large Data by YCharts As mentioned in my previous article on Lumen Technologies (LUMN), I adore taking shots on stocks that are -70 to -90% off their all-time highs as long as the revenue story hasn't changed a whole lot. These types of companies normally drop by such a devastating amount due to a few factors. 1. A dividend cut 2. Earnings or free cash flow going negative 3. A debt crisis followed by credit downgrades My criteria are fairly simple in thes ...

CARTHAGE, Mo., Aug. 7, 2024 /PRNewswire/ -- Leggett & Platt's Board of Directors declared a dividend of $.05 per share for the third quarter 2024. The dividend will be paid on October 15, 2024 to shareholders of record on September 13, 2024. FOR MORE INFORMATION: Visit Leggett's website at www.leggett.com. COMPANY DESCRIPTION: Leggett & Platt (NYSE: LEG) is a diversified manufacturer that designs and produces a broad variety of engineered components and products that can be found in many homes and automobil ...

Editor's note: Seeking Alpha is proud to welcome Gabriel Zimmerman as a new contributing analyst. You can become one too! Share your best investment idea by submitting your article for review to our editors. Get published, earn money, and unlock exclusive SA Premium access. Click here to find out more » Bet_Noire/iStock via Getty Images Investment Thesis After the stock lost about 80% in recent years, Leggett & Platt (NYSE:LEG) caught my attention. Prior to 2023, LEG consistently reported EPS of about $2 or ...

Leggett & Platt, Incorporated (LEG) reported lackluster results for second-quarter 2024. Earnings matched the analysts' expectation while net sales missed the same. The metrics declined on a year-over-year basis due to persistent weak demand in most of the end markets served. Following the results, the stock plunged 1.2% in the after-hour trading session on Aug 1. For the full year, LEG lowered sales guidance and narrowed adjusted EPS guidance. The company noted that demand in the residential end markets re ...

Legget & Platt (LEG) reported $1.13 billion in revenue for the quarter ended June 2024, representing a yearover-year decline of 7.6%. EPS of $0.29 for the same period compares to $0.38 a year ago. The reported revenue represents a surprise of -0.52% over the Zacks Consensus Estimate of $1.13 billion. With the consensus EPS estimate being $0.29, the company has not delivered EPS surprise. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare ...

Legget & Platt (LEG) came out with quarterly earnings of $0.29 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.38 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 $0.25 per share when it actually produced earnings of $0.23, delivering a surprise of -8%. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. Le ...

CARTHAGE, Mo., Aug. 1, 2024 /PRNewswire/ -- 2Q sales of $1.1 billion, an 8% decrease vs 2Q23 2Q EPS of ($4.39), primarily due to a non-cash goodwill impairment charge 2Q adjusted1 EPS of $.29, a $.09 decrease vs adjusted1 2Q23 EPS 2024 EPS guidance is ($3.43)–($3.58), including impact of non-cash goodwill impairment charge, restructuring charges, real estate gains, and certain other costs 2024 adjusted1 EPS narrowed to $1.10–$1.25; sales guidance lowered to $4.3–$4.5 billion President and CEO Karl Glassman ...

COMPANY DESCRIPTION: Leggett & Platt (NYSE:LEG) is a diversified manufacturer that designs and produces a broad variety of engineered components and products that can be found in many homes and automobiles. The 141-year-old Company is a leading supplier of bedding components and private label finished goods; automotive seat comfort and convenience systems; home and work furniture components; geo components; flooring underlayment; hydraulic cylinders for material handling and heavy construction applications; ...

Investment Thesis - Leggett & Platt has experienced a significant decline in share price, dropping over 80% in the past three years, reaching levels not seen since 2009, following a cut in its historically consistent dividend [3][4] - The company faces declining revenue and margins due to reduced consumer demand linked to slowing home sales, with projected annual revenue falling from $5.1 billion in 2022 to approximately $4.5 billion in 2024 [6][11] - Despite these challenges, the current share price presents a potential buying opportunity for long-term investors [3] Financial Performance - The company's operating margins have compressed, with a 7% decline in sales volume reported in 2023 [8][9] - Management anticipates earnings of about $1 per share in 2024, a significant drop from the $2-$3 per share range seen from 2015 to 2022 [11] - Interest expenses are expected to rise due to a $300 million senior note maturing in November, with a projected increase from $88 million in 2023 to $120 million thereafter [9][11] Industry Context - The decline in home purchases has adversely affected the home furnishings industry, impacting Leggett & Platt's sales [6][10] - Competitors in the mattress manufacturing sector, such as Sleep Number and Purple Innovation, have also reported revenue declines, indicating broader industry challenges [9][10] - Tempur Sealy International has managed to maintain stable sales, highlighting the competitive pressures faced by Leggett & Platt, which primarily sells to businesses rather than directly to consumers [10] Future Outlook - The company is focusing on restructuring efforts to simplify operations and improve margins, with expectations of a revenue decline settling around $4.4 billion in 2024 [11][12] - Positive cash generation of $200 million is anticipated in 2024, despite the challenging environment, with potential for recovery as the housing market improves [11][12] - Insiders have shown confidence in the company's recovery by purchasing over $750,000 in shares recently, suggesting belief in a turnaround [14]

Sezeryadigar/iStock via Getty Images LEG stock: the dividend king cut its dividends Leggett & Platt, Inc. (NYSE:LEG) caught my attention in early 2022 during my routine screening of dividend stocks. In these screens, I specifically look for stocks that pay regular dividends and are yielding either far above or below their historical average yield. LEG was yielding around 5% at that time as seen in the next chart, close to the highest level in at least 10 years (except for the period of fire sale during the ...