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Leggett & Platt (LEG)
NYSE:LEG
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Earnings Data
Report Date
Feb 10, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.21Last Year’s EPS
$0.26Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 28, 2024
|% Change Since: -20.03%
|Next Earnings Date:Feb 10, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a challenging environment with significant headwinds in demand across key segments and a reduction in guidance. However, there are ongoing efforts in restructuring and operational efficiency, along with some positive developments in debt reduction and Automotive segment improvements.Company Guidance
During the third quarter 2024 earnings call for Leggett & Platt, the company provided revised guidance reflecting a more challenging market environment. The full-year sales are now expected to be between $4.3 billion and $4.4 billion, a downward revision from the previous guidance of $4.3 billion to $4.5 billion, marking a decrease of 7% to 9% compared to 2023. Volume is projected to decline mid-single digits, with a high single-digit decrease in Bedding Products and mid-single-digit declines in Specialized Products and Furniture, Flooring, and Textile Products. The adjusted earnings per share (EPS) guidance has also been lowered to a range of $1 to $1.10, down from the prior $1.10 to $1.25, with the adjusted EBIT margin expected between 6.0% to 6.4%, compared to the previous 6.5% to 6.9%. The company continues to focus on debt reduction, having reduced total debt by $124 million to $1.9 billion in the third quarter, with further reductions planned. Restructuring initiatives are on track, expected to deliver $50 million to $60 million in annualized EBIT benefits by late 2025, with $10 million to $15 million anticipated in 2024.Restructuring Plan Progress
The restructuring plan remains on track with the exit of the Mexican innerspring operation and consolidation in the Specialty Foam and Adjustable Bed locations. Expected EBIT benefit of $50 million to $60 million after full implementation.
Debt Reduction Achievements
Total debt reduced by $124 million to $1.9 billion, with further progress expected toward the long-term leverage ratio target of 2x.
Operational Efficiency Improvements
Despite lower sales, operational efficiency improvements and restructuring benefits helped improve adjusted EBIT margin by 60 basis points sequentially.
Positive Developments in Automotive
Efficiency improvements and cost management in the Automotive segment led to improved EBIT margins despite challenging market conditions.
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LEG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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LEG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 28, 2024 | $12.12 | $12.60 | +3.96% |
| Aug 01, 2024 | $12.76 | $12.89 | +1.02% |
| Apr 30, 2024 | $17.84 | $13.08 | -26.68% |
| Feb 08, 2024 | $22.43 | $19.72 | -12.08% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Leggett & Platt (LEG) report earnings?
Leggett & Platt (LEG) is schdueled to report earning on Feb 10, 2025, TBA Not Confirmed.
What is Leggett & Platt (LEG) earnings time?
Leggett & Platt (LEG) earnings time is at Feb 10, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LEG EPS forecast?
LEG EPS forecast for the fiscal quarter 2024 (Q4) is $0.21.
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