Leggett & Platt ( (LEG) ) has released its Q4 earnings. Here is a breakdown of the information Leggett & Platt presented to its investors.
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Leggett & Platt, a diversified manufacturer known for its engineered components and products in the bedding, automotive, and furniture industries, has released its fourth-quarter and full-year 2024 financial results, alongside a strategic leadership update.
The company reported a 5% decline in fourth-quarter sales to $1.1 billion and a 7% decrease in full-year 2024 sales to $4.4 billion, citing weak demand in residential markets and softening in automotive and hydraulic cylinders. Earnings per share (EPS) for the fourth quarter stood at $0.10, while the full-year EPS reflected a loss of $3.73. Adjusted EPS for the year was $1.05, a decrease from the previous year.
Key highlights include a reduction in debt by $126 million, the realization of $22 million in EBIT benefits from restructuring, and cash proceeds of $20 million from real estate sales. Despite facing challenges in demand, Leggett & Platt has emphasized its success in executing strategic priorities, including a potential sale of its Aerospace Group, and has appointed Sam Smith as the President of the Specialized Products segment.
Looking forward, Leggett & Platt forecasts 2025 sales between $4.0–$4.3 billion and EPS in the range of $0.83–$1.24, driven by restructuring benefits and operational efficiency improvements. The company remains focused on improving profitability and creating long-term shareholder value amid anticipated economic uncertainties.
