Carthage, MO, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Leggett & Platt (NYSE:LEG), a diversified manufacturer of engineered products serving several major markets, will release third quarter earnings results on Monday, October 27, 2025 after the market closes, and hold its quarterly conference call to discuss third quarter results, annual guidance, market conditions, company initiatives, and related matters on Tuesday, October 28, 2025, at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). This call will be webcast ...

Core Insights - The company reported a quarter of profitability improvement, with a focus on strengthening its balance sheet through debt reduction and amending its revolving credit facility [1][8] - Despite macroeconomic challenges, the company remains confident in its business resilience and has reaffirmed its full-year guidance for sales and adjusted EPS [2][17] Financial Performance - Second quarter sales were $1.1 billion, representing a 6% decrease compared to the second quarter of 2024 [3][8] - EBIT for the second quarter was $90 million, a significant increase of $705 million from the same period in 2024, while adjusted EBIT rose by $4 million to $76 million [3][4] - The EBIT margin improved to 8.5%, up from a negative margin of 54.4% in the second quarter of 2024 [4][8] - Second quarter EPS was $0.38, compared to a loss of $4.39 in the same quarter of 2024, with adjusted EPS at $0.30, an increase of $0.01 from the previous year [4][8] Debt and Liquidity - The company reduced its debt by $143 million during the second quarter, resulting in a net debt to trailing 12-month adjusted EBITDA ratio of 3.5x [8][10] - Total debt stood at $1.8 billion, including $297 million of commercial paper outstanding [10] - The company maintained total liquidity of $878 million as of June 30, 2025, with $369 million in cash and $509 million available under its revolving credit facility [10] Segment Performance - In the Bedding Products segment, trade sales decreased by 11% year-over-year, while adjusted EBIT increased significantly due to metal margin expansion and restructuring benefits [21] - The Specialized Products segment saw a 5% decline in trade sales, but adjusted EBIT increased by 6% [21] - The Furniture, Flooring & Textile Products segment experienced a 2% decrease in trade sales, with adjusted EBIT decreasing by 28% [21] Guidance and Future Expectations - The company expects 2025 sales to be between $4.0 billion and $4.3 billion, reflecting a decline of 2% to 9% compared to 2024 [17] - Adjusted EPS is anticipated to be in the range of $1.00 to $1.20, with earnings expectations influenced by restructuring costs and gains from real estate sales [17] - The company projects an EBIT margin of 5.9% to 6.8% for 2025, with adjusted EBIT margin expected to be between 6.5% and 6.9% [17]

Company Overview - Leggett & Platt (NYSE: LEG) is a diversified manufacturer with a history of 142 years, producing engineered components and products for various markets, including bedding, automotive, furniture, and aerospace [3] Upcoming Earnings Release - The company will release its second quarter earnings results on July 31, 2025, after market close [1] - A quarterly conference call to discuss the results, annual guidance, market conditions, and company initiatives will be held on August 1, 2025, at 8:30 a.m. Eastern Time [1] Access to Information - The earnings release and financial summary slides will be available on the Investor Relations section of the company's website shortly after the earnings release [2] - The conference call will be accessible via webcast, and dial-in information is provided for participants [2]

Group 1 - The Board of Directors of Leggett & Platt declared a dividend of $0.05 per share for the second quarter of 2025, payable on July 15, 2025, to shareholders of record on June 13, 2025 [1] - The annual meeting of shareholders resulted in the election of eight nominees as directors, ratification of PricewaterhouseCoopers as the independent registered public accountant for 2025, endorsement of executive compensation, and approval of the amendment and restatement of the Flexible Stock Plan [2] - Manuel Fernandez and Mark Blinn retired from the Board of Directors prior to the annual meeting, leading to a reduction in the number of directors from ten to eight [3] Group 2 - Karl Glassman, the Board Chairman, President & CEO, expressed gratitude towards the retiring directors for their service and contributions to the company [4] - The company, Leggett & Platt, is a diversified manufacturer with a 142-year history, producing a wide range of engineered components and products for homes and automobiles [5]