Leggett & Platt(US:LEG)2024-02-09 15:49Financial Performance - Q4 2023 - Sales decreased by 7% to $1.115 billion compared to Q4 2022, with organic sales declining by 7%[3, 4] - Adjusted EBIT was $66 million, a 28% decrease compared to $91 million in Q4 2022, resulting in an adjusted EBIT margin of 5.9%, down 170 bps[3] - Adjusted EPS was $0.26, a 33% decrease compared to $0.39 in Q4 2022[3] - Cash from operations decreased by 41% to $146 million compared to $247 million in Q4 2022[3] Financial Performance - Full Year 2023 - Sales decreased by 8% to $4.725 billion compared to 2022[25] - Adjusted EBIT was $334 million, a 31% decrease compared to $485 million in 2022[25] - Adjusted EPS was $1.39, a 39% decrease compared to $2.27 in 2022[2] - Cash from operations increased by 13% to $497 million compared to $441 million in 2022[2] Sales Bridge - Q4 2023 - Volume decrease impacted sales by approximately $39 million, a 3% decrease[4] - Raw material-related pricing and currency impact decreased sales by approximately $47 million, a 4% decrease[4] - Acquisitions increased sales by $5 million[4] 2024 Guidance - The company expects sales of $4.35-$4.65 billion, a decrease of 2% to 8% versus 2023, and adjusted EPS of $1.05-$1.35[2]