Leggett & Platt (LEG)

Leggett & Platt, Inc. engages in the manufacture and distribution of furniture and engineered components; and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding, Flooring & Textile, and Specialized Products. The Bedding Products segment supplies of products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire. The Flooring & Textile Products segment is a producer of an extensive line of components and engineered systems for office, residential, and contract furniture manufacturers. The Specialized Products segment supplies titanium, nickel, and stainless steel tubing for the aerospace industry, and serve the construction market with hydraulic cylinders group. The company was founded J. P. Productsand C. B. Platt in 1883 and is headquartered in Carthage, MO.

Company profile

Ticker

LEG

Exchange

NYSE

Website

www.leggett.com/

CEO

Karl Glassman

Incorporated

Missouri

Location

Missouri

Fiscal year end

Dec 31

Sector

Manufacturing > Upholstered Household Furniture Manufacturing

Industry (SIC)

Household Furniture

Compass Diversified • Tempur Sealy International • Kimball International • Sleep Number • La-Z-Boy • Casper Sleep • Flexsteel Industries • Hooker Furnishings • Nova Lifestyle • Luvu Brands ...

SEC CIK

0000058492

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Administradora Soal S.A. de C.V. • Atlas Spring Manufacturing Corp. • Avica Aerospace Ducting Limited • Buffalo Batt & Felt, LLC • Changshu L&V Automobile Motion Co. Ltd. • Chieng Yeng Ent. Co., Ltd. • Church Corporate Park Owner’s Association, LLC • Crest-Foam Corp. • Industrial Components Group • David Hart Aerospace Pipes Limited ...

IRS number

440324630

LEG stock data

1M 1Y 5Y

News

From Benzinga Pro

Leggett & Platt Cuts FY22 Guidance Citing Macroeconomic Uncertainties

2 Aug 22

Recap: Leggett & Platt Q2 Earnings

1 Aug 22

Leggett & Platt (NYSE:LEG) reported its Q2 earnings results on Monday, August 1, 2022 at 04:15 PM. Here's what investors need to know about the announcement. Earnings Leggett & Platt reported in-line EPS of $0.7 versus an estimate of $0.7.

Leggett & Platt Q2 EPS $0.64 Misses $0.70 Estimate, Sales $1.33B Inline

1 Aug 22

Leggett & Platt (NYSE:LEG) reported quarterly earnings of $0.64 per share which missed the analyst consensus estimate of $0.70 by 8.57 percent. This is a 3.03 percent decrease over earnings of $0.66 per share from the

Earnings Scheduled For August 1, 2022

1 Aug 22

Earnings Preview: Leggett & Platt

29 Jul 22

Press releases

From Benzinga Pro

LEGGETT & PLATT ANNOUNCES QUARTERLY DIVIDEND OF $.44

9 Aug 22

CARTHAGE, Mo., Aug. 9, 2022 /PRNewswire/ -- Third quarter dividend is $.44 per share, an increase of 4.8% versus 3Q 2021Indicated dividend yield is 4.3%Annual dividends have increased for 51 consecutive yearsLeggett

LEGGETT & PLATT REPORTS RECORD 2Q SALES

1 Aug 22

CARTHAGE, Mo., Aug. 1, 2022 /PRNewswire/ -- 2Q sales1 were a quarterly record $1.33 billion, a 5% increase vs 2Q212Q EBIT of $143 million, down $29 million vs 2Q21 and down $1 million vs 2Q21 adjusted2 EBIT2Q EPS of

Leggett & Platt Announces 2Q 2022 Earnings Call

20 Jul 22

Carthage, MO, July 20, 2022 (GLOBE NEWSWIRE) -- Leggett & Platt (NYSE:LEG), a diversified manufacturer of engineered products serving several major markets, will release second quarter earnings results on Monday,

LEGGETT & PLATT ANNOUNCES DIVIDEND INCREASE AND ANNUAL MEETING RESULTS

17 May 22

Analyst ratings and price targets

Last 3 months

Average target

$39.50

Low target

$36.00

High target

$43.00

Investment data

Data from SEC filings

Securities sold

Number of investors

Calendar

4 Aug 22

12 Aug 22

31 Dec 22

Financial summary

Financial statements Chart LEG financial data

Quarter (USD)	Jun 22	Mar 22	Dec 21	Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	269.9M	269.9M	269.9M	269.9M	269.9M	269.9M
Cash burn (monthly)	19.13M	(no burn)	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	27.85M	n/a	n/a	n/a	n/a	n/a
Cash remaining	242.05M	n/a	n/a	n/a	n/a	n/a
Runway (months of cash)	12.7	n/a	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Recent insider trades

LEG insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
5 Aug 22	Karl G Glassman	Common Stock	Sell	Dispose S	No	No	40.53	26,401	1.07M	852,950.28
29 Jul 22	Benjamin Michael Burns	Common Stock	Grant	Acquire A	Yes	No	33.694	5.061	170.54	1,500.207
29 Jul 22	Benjamin Michael Burns	Common Stock	Grant	Acquire A	No	No	31.712	138.263	4.38K	37,578.319
29 Jul 22	Benjamin Michael Burns	Common Stock	Grant	Acquire A	No	No	33.694	15.345	517.03	37,440.056
29 Jul 22	J Mitchell Dolloff	Common Stock	Grant	Acquire A	No	No	31.712	339.595	10.77K	295,451.874
29 Jul 22	J Mitchell Dolloff	Common Stock	Grant	Acquire A	No	No	33.694	62.146	2.09K	295,112.279
29 Jul 22	Scott S Douglas	Common Stock	Grant	Acquire A	No	No	31.712	29.981	950.77	80,656.484
29 Jul 22	Scott S Douglas	Common Stock	Grant	Acquire A	No	No	33.694	26.44	890.87	80,626.503
29 Jul 22	Karl G Glassman	Common Stock	Grant	Acquire A	No	No	33.694	41.028	1.38K	879,351.28

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

LEG institutional ownership history Ownership history

72.5% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	430	464	-7.3%
Opened positions	50	77	-35.1%
Closed positions	84	90	-6.7%
Increased positions	164	168	-2.4%
Reduced positions	138	143	-3.5%

13F shares	Current	Prev Q	Change
Total value	4.52B	4.04B	+11.6%
Total shares	96.79M	97.85M	-1.1%
Total puts	293.6K	377K	-22.1%
Total calls	416K	375.3K	+10.8%
Total put/call ratio	0.7	1.0	-29.7%

Largest owners	Shares	Value	Change
BLK Blackrock	14.58M	$507.23M	+2.9%
STT State Street	14.51M	$510.66M	+35.5%
Vanguard	11.71M	$407.34M	-3.6%
Charles Schwab Investment Management	4.88M	$169.79M	+5.8%
BK Bank Of New York Mellon	2.48M	$86.37M	-14.0%
FMR	2.47M	$85.93M	+7.3%
USB U.S. Bancorp.	1.93M	$67.15M	-0.1%
Geode Capital Management	1.74M	$60.73M	-9.4%
Dimensional Fund Advisors	1.69M	$58.87M	+3.8%
Epoch Investment Partners	1.63M	$56.55M	+3.9%

Largest transactions	Shares	Bought/sold	Change
STT State Street	14.51M	+3.8M	+35.5%
Jane Street	95.76K	-2.02M	-95.5%
Norges Bank	0	-1.33M	EXIT
CFS Investment Advisory Services	1.26M	+1.23M	+3378.6%
Susquehanna International	22.8K	-1.22M	-98.2%
MCQEF Macquarie	2.5K	-1.16M	-99.8%
HRT Financial	9.6K	-1.12M	-99.1%
Deprince Race & Zollo	1.06M	+1.06M	NEW
Millennium Management	506.4K	-656.52K	-56.5%
Renaissance Technologies	713.7K	+584.7K	+453.3%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Competition

ITC

Risks

The Russian invasion of Ukraine has caused supply chain disruptions and global inflationary impacts that have had, and could continue to have, a negative effect on the demand for our products and our results of operations.
Supply chain disruptions impacting our ability to timely receive competitively-priced raw materials and parts used in our products, or impacting our ability to timely deliver our finished products to customers, may adversely affect our manufacturing processes, financial condition, results of operations, and cash flows.
Macro market uncertainties have had, and could further have, an adverse impact on the collection of trade and other notes receivable in accordance with their terms due to customer bankruptcy, financial difficulties, or insolvency.
Inflation-impacted raw material and labor costs have negatively affected, and could continue to negatively affect, our profit margins and earnings.
Technology failures or cybersecurity breaches could have a material adverse effect on our operations.
Climate change transition risks, including change in laws and regulations, and impacts from climate change could negatively impact our business, capital expenditures, results of operations, financial condition, competitive position, and reputation.
We are exposed to litigation contingencies that, if realized, could have a material negative impact on our financial condition, results of operations, and cash flows.

Management Discussion

Trade Sales were $1,334 million in the current quarter, a 5% increase versus the second quarter 2021. Organic sales increased 5%. Raw material-related selling price increases of 13% were partially offset by volume declines of 6% and currency impact of 2%. Volume was down primarily from demand softness in residential end markets partially offset by growth in industrial end markets and Automotive. Acquisitions, net of divestitures, increased sales less than 1%.
EBIT decreased 17%, to $143 million, primarily from the non-recurrence of last year's gain on the sale of real estate associated with our former Fashion Bed business, lower volume, and lower overhead absorption as production and inventory levels were adjusted to meet reduced demand primarily in the Bedding Products segment. These decreases were partially offset by metal margin expansion in our Steel Rod business and pricing discipline in the Furniture, Flooring & Textile Products segment.
Earnings Per Share (EPS) decreased to $.70 in the current quarter, versus $.82 in the second quarter of 2021. This decline reflects lower EBIT partially offset by a lower tax rate ($.04/share).

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. freshman Good

New words: economy, flat, frequently, geopolitical, highest, instance, nonpayment, outlook, progressed, retire, single, softening, trended, yield

Removed: accelerated, achieve, applied, attention, deleveraging, ECS, enactment, frame, led, longer, mandate, projected, protect, received, returned, sustained

From filing 10-Q 2022 Q2

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