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An announcement from Leggett & Platt ( (LEG) ) is now available.
Leggett & Platt faced a challenging third quarter with sales dipping by 6% to $1.1 billion and adjusted EPS falling to $0.32. Despite weaker demand, particularly in residential and automotive markets, the company improved its operating efficiency and reduced debt by $124 million. They are adjusting their 2024 guidance and considering divesting their Aerospace business to focus on long-term growth opportunities. With ongoing restructuring efforts, they aim to enhance their balance sheet and create shareholder value amid a tough economic landscape.
For a thorough assessment of LEG stock, go to TipRanks’ Stock Analysis page.
