Upcoming Dividend • Jun 08
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 15 June 2026. Payment date: 15 July 2026. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.5%). Declared Dividend • May 25
First quarter dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 15th June 2026 Payment date: 15th July 2026 Dividend yield will be 2.1%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 11% over the next 3 years. However, it would need to fall by 86% to increase the payout ratio to a potentially unsustainable range. Announcement • May 23
Leggett & Platt, Incorporated announces Quarterly dividend, payable on July 15, 2026 Leggett & Platt, Incorporated announced Quarterly dividend of USD 0.0500 per share payable on July 15, 2026, ex-date on June 15, 2026 and record date on June 15, 2026. Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. Independent Director Angela Barbee was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 23
Leggett & Platt, Incorporated to Report Q1, 2026 Results on May 07, 2026 Leggett & Platt, Incorporated announced that they will report Q1, 2026 results Pre-Market on May 07, 2026 Announcement • Apr 08
Leggett & Platt, Incorporated, Annual General Meeting, May 21, 2026 Leggett & Platt, Incorporated, Annual General Meeting, May 21, 2026. Location: register.proxypush.com/leg, United States Announcement • Feb 26
Leggett & Platt, Incorporated Declares Dividend for the First Quarter of 2026, Payable on April 15, 2026 Leggett & Platt's Board of Directors declared a dividend of $0.05 per share for the first quarter of 2026. The dividend will be paid on April 15, 2026 to shareholders of record on March 13, 2026. Announcement • Feb 12
Leggett & Platt, Incorporated Provides Earnings Guidance for the Year 2026 Leggett & Platt, Incorporated provided earnings guidance for the year 2026. For the year, the company's sales are expected to be $3.8 billion to $4.0 billion, down 1% to 6% versus 2025; Volume is expected to be flat to down low-single digits EPS is expected to be $0.92 to $1.38. Announcement • Jan 29
Leggett & Platt, Incorporated to Report Q4, 2025 Results on Feb 11, 2026 Leggett & Platt, Incorporated announced that they will report Q4, 2025 results After-Market on Feb 11, 2026 Announcement • Dec 01
Somnigroup International Inc. (NYSE:SGI) proposed to acquire Leggett & Platt, Incorporated (NYSE:LEG) for $1.6 billion. Somnigroup International Inc. (NYSE:SGI) proposed to acquire Leggett & Platt, Incorporated (NYSE:LEG) for $1.6 billion on December 1, 2025. As per the transaction, most of the Leggett & Platt’s management team and employees will be retained. As per the transaction, Leggett & Platt shareholders would receive shares of Somnigroup common stock with a market value of $12.00 for every one share of Leggett & Platt common stock, based on a fixed exchange ratio to be agreed.
The transaction is subject to approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by acquirer board, approval of offer by target shareholders and consummation of due diligence investigation.
Goldman Sachs & Co. LLC acted as financial advisor for Somnigroup International Inc. Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor for Somnigroup International Inc. Announcement • Nov 06
Leggett & Platt, Incorporated Announces Dividend for Fourth Quarter 2025, Payable on January 15, 2026 Leggett & Platt, Incorporated announced board of Directors declared a dividend of $0.05 per share for the fourth quarter of 2025. The dividend will be paid on January 15, 2026 to shareholders of record on December 15, 2025. Announcement • Oct 28
Leggett & Platt, Incorporated Updates Earnings Guidance for the Year 2025 Leggett & Platt, Incorporated updated earnings guidance for the year 2025. Sales are now expected to be $4.0–$4.1 billion (versus $3.9–$4.2 billion previously), down 6% to 9% versus 2024. EPS is now expected to be $1.52–$1.72 (versus $1.43–$1.72 previously). EBIT margin is expected to be 8.4%–9.0%. Announcement • Sep 29
Leggett & Platt, Incorporated to Report Q3, 2025 Results on Oct 27, 2025 Leggett & Platt, Incorporated announced that they will report Q3, 2025 results After-Market on Oct 27, 2025 Announcement • Aug 29
Leggett & Platt Updates Earnings Guidance for the Year 2025 Leggett & Platt updated earnings guidance for the year 2025. For the year, the company now expects sales to be $3.9 billion to $4.2 billion against $4.0 billion to $4.3 billion in Previous Guidance and EPS to be $1.43 - $1.72 against $0.88–$1.17 in prior guidance. Announcement • Aug 07
Leggett & Platt, Incorporated Declares Dividend for the Third Quarter of 2025, Payable on October 15, 2025 Leggett & Platt, Incorporated declared a dividend of $0.05 per share for the third quarter of 2025. The dividend will be paid on October 15, 2025 to shareholders of record on September 15, 2025. Announcement • Aug 01
Leggett & Platt Updates Earnings Guidance for the Year 2025 Leggett & Platt updated earnings guidance for the year 2025. For the year, the company expects sales to be $4.0–$4.3 billion, down 2% to 9% versus 2024 and EPS to be $0.88–$1.17 (versus prior guidance of $0.85–$1.26). Announcement • Jul 17
Leggett & Platt, Incorporated to Report Q2, 2025 Results on Jul 31, 2025 Leggett & Platt, Incorporated announced that they will report Q2, 2025 results After-Market on Jul 31, 2025 Announcement • May 07
Leggett & Platt Declares Quarterly Dividend, Payable on July 15, 2025 Leggett & Platt's Board of Directors declared a dividend of $0.05 per share for the second quarter 2025. The dividend will be paid on July 15, 2025 to shareholders of record on June 13, 2025. Announcement • Apr 29
Leggett & Platt, Incorporated Provides Earnings Guidance for the Year 2025 Leggett & Platt, Incorporated provided earnings guidance for the year 2025. For the period, Sales are expected to be $4.0 billion–$4.3 billion, down 2% to 9% versus 2024. Volume is now expected to be down low to high-single digits (versus prior guidance of down low to mid-single digits). EPS is expected to be $0.85–$1.26. Announcement • Apr 15
Leggett & Platt, Incorporated to Report Q1, 2025 Results on Apr 28, 2025 Leggett & Platt, Incorporated announced that they will report Q1, 2025 results After-Market on Apr 28, 2025 Announcement • Apr 04
Funds managed by Tinicum Incorporated entered into a purchase agreement to acquire Aerospace Products Group from Leggett & Platt, Incorporated (NYSE:LEG) for approximately $290 million. Funds managed by Tinicum Incorporated entered into a purchase agreement to acquire Aerospace Products Group from Leggett & Platt, Incorporated (NYSE:LEG) for approximately $290 million on April 2, 2025. A cash consideration of $285 million will be paid by Tinicum Incorporated. In case of termination of transaction, Tinicum Incorporated will pay a termination fee of $14.25 million, and certain fees and costs as Leggett’s sole remedy. The business is comprised of seven manufacturing facilities located in the U.S., UK, and France and approximately 700 employees. For the period ending December 31, 2024, Aerospace Products Group of Leggett & Platt, Incorporated reported total revenue of $190 million. The Purchaser have secured committed financing subject to customary conditions, consisting of a combination of equity financing to be provided by investment funds affiliated with Tinicum and debt financing to be provided by a third-party lender. This divestiture is part of the ongoing strategic business review, aimed at determining which businesses are the right long-term fit for the company.
The sale of Leggett’s Aerospace Products Group was approved by Leggett’s Board of Directors. The transaction is expected to close in 2025 as soon as all closing conditions are met, including necessary regulatory approvals. The after-tax cash proceeds are expected to be approximately $240 million.
Lazard Freres & Co. LLC acted as financial advisor for Leggett & Platt, Incorporated. Paul K. Humphreys of Freshfields US LLP acted as legal advisor for Leggett & Platt, Incorporated. John LeClaire, Chris Wilson, and Lindsay Reed of Goodwin Procter LLP acted as legal advisor for Tinicum Incorporated. Announcement • Mar 03
Leggett & Platt, Incorporated, Annual General Meeting, May 07, 2025 Leggett & Platt, Incorporated, Annual General Meeting, May 07, 2025. Announcement • Feb 27
Leggett & Platt Declares Quarterly Dividend for the First Quarter 2025, Payable on April 15, 2025 Leggett & Platt's Board of Directors declared a dividend of $0.05 per share for the first quarter 2025. The dividend will be paid on April 15, 2025 to shareholders of record on March 14, 2025. Announcement • Feb 15
Leggett & Platt, Incorporated Announces Executive Changes On February 13, 2025, Karl G. Glassman, the Leggett & Platt, Incorporated's President and Chief Executive Officer, ceased serving as the acting, temporary segment manager of the Company’s Specialized Products segment. Mr. Glassman will continue to serve as Board Chairman, and President and Chief Executive Officer of the Company. On this same date, the Company appointed R. Samuel Smith, Jr. to serve as President of the Specialized Products segment. In addition to his new responsibilities, Mr. Smith will continue to serve as Executive Vice President, President of the Furniture, Flooring and Textile Products segment. Announcement • Feb 14
Leggett & Platt, Incorporated Provides Financial Guidance for the Full Year of 2025 Leggett & Platt, Incorporated provides financial guidance for the full year of 2025. For the period, the company expects sales to be $4.0–$4.3 billion, down 2% to 9% versus 2024. Volume is expected to be down low to mid-single digits. EPS is expected to be $0.83–$1.24. Announcement • Jan 28
Leggett & Platt, Incorporated to Report Q4, 2024 Results on Feb 13, 2025 Leggett & Platt, Incorporated announced that they will report Q4, 2024 results After-Market on Feb 13, 2025 Declared Dividend • Nov 11
Third quarter dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 13th December 2024 Payment date: 15th January 2025 Dividend yield will be 5.0%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (11% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Announcement • Nov 08
Leggett & Platt, Incorporated Declares Dividend for the Fourth Quarter 2024, Payable on January 15, 2025 Leggett & Platt's Board of Directors declared a dividend of $0.05 per share for the fourth quarter 2024. The dividend will be paid on January 15, 2025 to shareholders of record on December 13, 2024. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: US$0.33 (vs US$0.39 in 3Q 2023) Third quarter 2024 results: EPS: US$0.33 (down from US$0.39 in 3Q 2023). Revenue: US$1.10b (down 6.3% from 3Q 2023). Net income: US$44.9m (down 15% from 3Q 2023). Profit margin: 4.1% (down from 4.5% in 3Q 2023). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Announcement • Oct 15
Leggett & Platt, Incorporated to Report Q3, 2024 Results on Oct 28, 2024 Leggett & Platt, Incorporated announced that they will report Q3, 2024 results After-Market on Oct 28, 2024 Upcoming Dividend • Sep 06
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 13 September 2024. Payment date: 15 October 2024. The company is not currently making a profit and its cash payout ratio is 84%. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.1%). Declared Dividend • Aug 12
Second quarter dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 13th September 2024 Payment date: 15th October 2024 Dividend yield will be 8.2%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (9% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Announcement • Aug 08
Leggett & Platt, Incorporated Declares Dividend for the Third Quarter 2024, Payable on October 15, 2024 Leggett & Platt's Board of Directors declared a dividend of $0.05 per share for the third quarter 2024. The dividend will be paid on October 15, 2024 to shareholders of record on September 13, 2024. Reported Earnings • Aug 02
Second quarter 2024 earnings released: US$4.39 loss per share (vs US$0.40 profit in 2Q 2023) Second quarter 2024 results: US$4.39 loss per share (down from US$0.40 profit in 2Q 2023). Revenue: US$1.13b (down 7.6% from 2Q 2023). Net loss: US$602.2m (down US$656.4m from profit in 2Q 2023). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Consumer Durables industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Announcement • Jul 18
Leggett & Platt, Incorporated to Report Q2, 2024 Results on Aug 01, 2024 Leggett & Platt, Incorporated announced that they will report Q2, 2024 results After-Market on Aug 01, 2024 Buy Or Sell Opportunity • Jul 01
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 39% to €10.70. The fair value is estimated to be €13.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jun 27
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 41% to €10.46. The fair value is estimated to be €13.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Jun 07
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 15 July 2024. The company is not currently making a profit and its cash payout ratio is 83%. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (4.0%). Recent Insider Transactions • Jun 05
President recently bought €252k worth of stock On the 31st of May, Karl Glassman bought around 24k shares on-market at roughly €10.58 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Karl's only on-market trade for the last 12 months. Announcement • May 23
Leggett & Platt, Incorporated Announces Chief Executive Officer Changes Leggett & Platt, Incorporated announced that its Board of Directors has appointed Karl Glassman as Chief Executive Officer, effective immediately. Karl will continue to serve as Board Chairman. This follows the decision by Mitch Dolloff to resign as Chief Executive Officer also effective immediately, having mutually agreed with the Board that now is the right time for a change in leadership at Leggett & Platt. Mitch will serve in a consulting capacity for one year to assist in the transition. Karl has served as an executive director and non-executive director on the Leggett & Platt Board since 2002, and previously served as CEO from 2016 to 2021. Karl has served in other various leadership capacities with the Company over his 42-year tenure, including Chief Operating Officer and President of the former Residential Furnishings segment. Buy Or Sell Opportunity • May 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 44% to €10.50. The fair value is estimated to be €13.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Announcement • May 23
Leggett & Platt Announces Management Changes Leggett & Platt announced that its Board of Directors has appointed Karl Glassman as President effective immediately. Karl will continue to serve as Board Chairman. This follows the decision by Mitch Dolloff to resign as President and member the Board, also effective immediately, having mutually agreed with the Board that now is the right time for a change in leadership at Leggett & Platt. Mitch will serve in a consulting capacity for one year to assist in the transition. Karl has served as an executive director and non-executive director on the Leggett & Platt Board since 2002, and previously served as CEO from 2016 to 2021. Karl has served in other various leadership capacities with the Company over his 42-year tenure, including Chief Operating Officer and President of the former Residential Furnishings segment. Declared Dividend • May 06
First quarter dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 14th June 2024 Payment date: 15th July 2024 Dividend yield will be 10%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (84% cash payout ratio). The dividend has increased by an average of 4.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Announcement • May 01
Leggett & Platt, Incorporated Declares Dividend for the Second Quarter of 2024, Payable on July 15, 2024 The Board of Directors of Leggett & Platt, Incorporated declared a dividend of $0.05 per share for the second quarter of 2024, a decrease of $0.41 per share versus last year's second quarter dividend. Dividend will be paid on July 15, 2024 to shareholders of record on June 14, 2024. Reported Earnings • May 01
First quarter 2024 earnings released: EPS: US$0.23 (vs US$0.39 in 1Q 2023) First quarter 2024 results: EPS: US$0.23 (down from US$0.39 in 1Q 2023). Revenue: US$1.10b (down 9.6% from 1Q 2023). Net income: US$31.6m (down 41% from 1Q 2023). Profit margin: 2.9% (down from 4.4% in 1Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 5.3% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Announcement • May 01
Leggett & Platt, Incorporated Reaffirms Earnings Guidance for the Full Year 2024 Leggett & Platt, Incorporated reaffirmed earnings guidance for the full year 2024. For the period, the company sales are expected to be $4.35 billion to $4.65 billion, -2% to -8% versus 2023. EPS is expected to be $0.95 to $1.25. Buy Or Sell Opportunity • Apr 22
Now 24% overvalued Over the last 90 days, the stock has fallen 16% to €17.90. The fair value is estimated to be €14.43, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years. Meanwhile, the company became loss making. Announcement • Apr 17
Leggett & Platt, Incorporated to Report Q1, 2024 Results on May 01, 2024 Leggett & Platt, Incorporated announced that they will report Q1, 2024 results After-Market on May 01, 2024 Board Change • Apr 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. Independent Director Angela Barbee was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 29
Leggett & Platt, Incorporated, Annual General Meeting, May 08, 2024 Leggett & Platt, Incorporated, Annual General Meeting, May 08, 2024, at 10:00 Central Standard Time. Agenda: To consider and approve the election of director; to consider and approve the Pricewaterhousecoopers LLP as company's independent public accounting firm; to consider and approve the amendment of the flexible stock plan; and to consider and approve any other matters. Announcement • Feb 11
Leggett & Platt, Incorporated Reports Long-Lived Asset Impairment for the Fourth Quarter of 2023 Leggett & Platt, Incorporated reported long-lived asset impairment for the fourth quarter of 2023. For the quarter, the company reported long-lived asset impairment of $443.7 million. Announcement • Feb 09
Leggett & Platt, Incorporated Provides Earnings Guidance for the Year 2024 Leggett & Platt, Incorporated provided earnings guidance for the year 2024. For the year, the company expects sales are expected to be $4.35–$4.65 billion, -2% to -8% versus 2023. EPS is expected to be $.95–$1.25. Announcement • Jan 17
Leggett & Platt, Incorporated to Report Fiscal Year 2023 Results on Feb 08, 2024 Leggett & Platt, Incorporated announced that they will report fiscal year 2023 results on Feb 08, 2024 Announcement • Jan 16
Leggett & Platt, Incorporated Announces Restructuring Plan to Drive Improved Performance and Profitable Growth Leggett & Platt, Incorporated announced that it is implementing a Restructuring Plan primarily in its Bedding Products segment and to a lesser extent, in its Furniture, Flooring & Textile Products segment. In response to evolving markets, the Company is taking actions to improve manufacturing and distribution efficiency, advance its product strategy, and further support citstomer needs. These actions are expected to generate $40 to $50 million in EBIT benefit on an annualized run-rate basis when fully implemented in late 2025. The major Bedding Products initiatives that are part of the its Plan include: Refocitsing Strategy: The company are continuing to reshape its Bedding Products bitsiness to focits on innovative, higher-value content, driven by citstomer and end-consumer needs. The company are proud of its long history of providing product solutions its citstomers value and see further opportunities to do so in both innersprings and specialty foam, from components to private label finished goods. Optimizing Manufacturing and Distribution Footprint: The company plan to consolidate certain locations across the Bedding Products segment, reducing its manufacturing and distribution footprint of 50 facilities to approximately 30 to 35 facilities. Creating a new and more efficient regional distribution network will support its ability to maintain sufficient manufacturing capacity in fewer, higher-output facilities to effectively serve its citstomers and better align with anticipated future market demand. These actions should allow its to integrate its specialty foam and innerspring capabilities while maintaining market- leading service and product quality levels and improving overall efficiency. The initiatives outlined above are expected to enable profitable growth through expanded product capabilities and increased content at attractive price points, reduce costs, and create shareholder value. In Furniture, Flooring & Textile Products the company plan to consolidate a small number of production facilities in Home Furniture and Flooring Products to better align capacity with regional demand and drive operating efficiencies. total, the initiatives are expected to reduce annual sales by approximately $100 million and generate $40 to $50 million in EBIT benefit on an annualized run-rate basis when fully implemented in late 2025, with some of the benefit starting to be realized in the second half of 2024. Additionally, The company anticipates receiving approximately $60 to $80 million in net cash proceeds from the sale of real estate associated with the initiatives, with transactions largely complete by the end of 2025. The company expects to incur restructuring and restructuring-related costs of $65 to $85 million, of which approximately half are anticipated to be incurred in 2024 and the remainder in 2025. This includes $30 to $40 million in cash costs, the majority of which are anticipated to be incurred in 2024. In the first half of 2024, The company anticipates $20 to $25 million of restructuring and restructuring-related costs (approximately half in cash costs). Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €24.39, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 11x in the Consumer Durables industry in Europe. Total loss to shareholders of 20% over the past three years. Upcoming Dividend • Dec 07
Upcoming dividend of US$0.46 per share at 7.1% yield Eligible shareholders must have bought the stock before 14 December 2023. Payment date: 12 January 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 7.1%. Within top quartile of German dividend payers (5.2%). Higher than average of industry peers (4.7%). Announcement • Nov 09
Leggett & Platt Announces Quarterly Dividend, Will Be Paid on January 12, 2024 Leggett & Platt's Board of Directors announced a dividend of $0.46 per share for the fourth quarter, an increase of $0.02 per share or 4.5% versus the fourth quarter of 2022. The dividend will be paid on January 12, 2024 to shareholders of record on December 15, 2023. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: US$0.39 (vs US$0.53 in 3Q 2022) Third quarter 2023 results: EPS: US$0.39 (down from US$0.53 in 3Q 2022). Revenue: US$1.18b (down 9.2% from 3Q 2022). Net income: US$52.8m (down 26% from 3Q 2022). Profit margin: 4.5% (down from 5.5% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Announcement • Oct 18
Leggett & Platt, Incorporated to Report Q3, 2023 Results on Oct 30, 2023 Leggett & Platt, Incorporated announced that they will report Q3, 2023 results After-Market on Oct 30, 2023 Upcoming Dividend • Sep 07
Upcoming dividend of US$0.46 per share at 6.8% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 13 October 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.8%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (5.4%). Announcement • Aug 09
Leggett & Platt, Incorporated Announces Dividend for the Third Quarter of 2023, Payable on October 13, 2023 The Board of Directors of Leggett & Platt, Incorporated announced a dividend of $0.46 per share for the third quarter, an increase of $0.02 per share or 4.5% versus the third quarter of 2022. The dividend will be paid on October 13, 2023 to shareholders of record on September 15, 2023. New Risk • Aug 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.7% Last year net profit margin: 7.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (105% net debt to equity). Profit margins are more than 30% lower than last year (4.7% net profit margin). Reported Earnings • Aug 01
Second quarter 2023 earnings released: EPS: US$0.40 (vs US$0.70 in 2Q 2022) Second quarter 2023 results: EPS: US$0.40 (down from US$0.70 in 2Q 2022). Revenue: US$1.22b (down 8.5% from 2Q 2022). Net income: US$54.2m (down 43% from 2Q 2022). Profit margin: 4.4% (down from 7.1% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Aug 01
Leggett & Platt, Incorporated Revises Earnings Guidance for the Year 2023 Leggett & Platt, Incorporated revised earnings guidance for the year 2023. Full year 2023 sales and EPS guidance lowered. Sales are expected to be $4.75–$4.95 billion, -4% to -8% versus 2022. EPS is expected to be $1.50–$1.70. Prior guidance: Sales: $4.8–$5.2 billion; EPS: $1.50–$1.90. Announcement • Jul 18
Leggett & Platt, Incorporated to Report Q2, 2023 Results on Jul 31, 2023 Leggett & Platt, Incorporated announced that they will report Q2, 2023 results on Jul 31, 2023 Upcoming Dividend • Jun 07
Upcoming dividend of US$0.46 per share at 5.8% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 14 July 2023. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 5.8%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.8%). Recent Insider Transactions • May 25
Independent Director recently sold €182k worth of stock On the 23rd of May, Phoebe Wood sold around 6k shares on-market at roughly €30.27 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €882k. Insiders have been net sellers, collectively disposing of €2.3m more than they bought in the last 12 months. Reported Earnings • May 03
First quarter 2023 earnings released: EPS: US$0.39 (vs US$0.66 in 1Q 2022) First quarter 2023 results: EPS: US$0.39 (down from US$0.66 in 1Q 2022). Revenue: US$1.21b (down 8.2% from 1Q 2022). Net income: US$53.5m (down 41% from 1Q 2022). Profit margin: 4.4% (down from 6.8% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 07
Upcoming dividend of US$0.44 per share at 5.2% yield Eligible shareholders must have bought the stock before 14 March 2023. Payment date: 14 April 2023. Payout ratio is on the higher end at 76%, however this is supported by cash flows. Trailing yield: 5.2%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.9%). Recent Insider Transactions • Mar 02
Senior VP recently sold €882k worth of stock On the 28th of February, Scott Douglas sold around 27k shares on-market at roughly €32.68 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.1m more than they bought in the last 12 months. Reported Earnings • Feb 07
Full year 2022 earnings released: EPS: US$2.28 (vs US$2.95 in FY 2021) Full year 2022 results: EPS: US$2.28 (down from US$2.95 in FY 2021). Revenue: US$5.15b (up 1.5% from FY 2021). Net income: US$309.8m (down 23% from FY 2021). Profit margin: 6.0% (down from 7.9% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Feb 07
Leggett & Platt, Incorporated Provides Earnings Guidance for the First Quarter and Full Year of 2023 Leggett & Platt, Incorporated provided earnings guidance for the first quarter and full year of 2023. For the year 2023, the company’s sales are expected to be $4.8–$5.2 billion, -7% to +1% versus 2022; EPS is expected to be $1.50–$1.90.First quarter 2023 earnings expected to be down meaningfully vs fourth quarter 2022. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. Independent Director Angela Barbee was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buying Opportunity • Dec 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be €40.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 0.8% per annum. Earnings is forecast to decline by 0.009% per annum over the same time period. Upcoming Dividend • Dec 07
Upcoming dividend of US$0.44 per share Eligible shareholders must have bought the stock before 14 December 2022. Payment date: 13 January 2023. Payout ratio is a comfortable 65% and the cash payout ratio is 79%. Trailing yield: 5.0%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (4.4%). Reported Earnings • Nov 02
Third quarter 2022 earnings released: EPS: US$0.53 (vs US$0.71 in 3Q 2021) Third quarter 2022 results: EPS: US$0.53 (down from US$0.71 in 3Q 2021). Revenue: US$1.29b (down 1.9% from 3Q 2021). Net income: US$71.4m (down 27% from 3Q 2021). Profit margin: 5.5% (down from 7.4% in 3Q 2021). Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Nov 01
Leggett & Platt, Incorporated to Report Q4, 2022 Results on Feb 06, 2023 Leggett & Platt, Incorporated announced that they will report Q4, 2022 results on Feb 06, 2023 Upcoming Dividend • Sep 07
Upcoming dividend of US$0.44 per share Eligible shareholders must have bought the stock before 14 September 2022. Payment date: 14 October 2022. Payout ratio is a comfortable 60% and the cash payout ratio is 83%. Trailing yield: 4.8%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.8%). Recent Insider Transactions • Aug 09
Executive Chairman recently sold €1.1m worth of stock On the 5th of August, Karl Glassman sold around 26k shares on-market at roughly €39.91 per share. This was the largest sale by an insider in the last 3 months. This was Karl's only on-market trade for the last 12 months. Reported Earnings • Aug 02
Second quarter 2022 earnings released: EPS: US$0.70 (vs US$0.82 in 2Q 2021) Second quarter 2022 results: EPS: US$0.70 (down from US$0.82 in 2Q 2021). Revenue: US$1.33b (up 5.1% from 2Q 2021). Net income: US$95.2m (down 15% from 2Q 2021). Profit margin: 7.1% (down from 8.8% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to stay flat compared to a 3.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 07
Upcoming dividend of US$0.44 per share Eligible shareholders must have bought the stock before 14 June 2022. Payment date: 15 July 2022. Payout ratio is a comfortable 57% but the company is paying out more than the cash it is generating. Trailing yield: 4.5%. Within top quartile of German dividend payers (4.2%). Higher than average of industry peers (3.0%). Recent Insider Transactions • Jun 03
Independent Director recently sold €90k worth of stock On the 1st of June, Phoebe Wood sold around 3k shares on-market at roughly €36.00 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €603k more than they bought in the last 12 months.