NYSE$LEG
Leggett & Platt Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Leggett & Platt reported a decrease in sales and a net loss, impacted by a goodwill impairment charge and restructuring activities.
Leggett & Platt's second quarter sales decreased by 8% to $1.1 billion. The company reported a net loss primarily due to a significant non-cash goodwill impairment charge. Adjusted EPS was $.29, a decrease compared to the previous year. The company is lowering its full year sales guidance and narrowing its adjusted EPS guidance, reflecting weaker demand and other factors.
- Second quarter sales were $1.1 billion, an 8% decrease versus the same quarter last year.
- EPS was a loss of ($4.39), primarily due to a non-cash goodwill impairment charge.
- Adjusted EPS was $.29, a $.09 decrease versus the same quarter last year.
- The company is conducting a strategic review of its diverse portfolio.
Headline financials
Revenue & EPS history
Leggett & Platt · Revenue · Quarterly
$1.13B
Revenue by segment
Leggett & Platt · $1.18B total across 3 segments · Q3 2023
- Bedding Products$483M-17.0%41.1%
- Furniture, Flooring & Textile Products$373M—31.7%
- Specialized Products$319M—27.2%
Forward guidance
Leggett & Platt lowered its full year 2024 sales guidance to $4.3–$4.5 billion and narrowed its adjusted EPS guidance to $1.10–$1.25.
Tailwinds
- Restructuring plan progressing ahead of schedule.
- Operational efficiency improvements.
- Pricing discipline.
- Real estate sales anticipated to be realized sooner than initially expected.
- Lower amortization resulting from the 2023 long-lived asset impairment.
Headwinds
- Lower expected volume in Bedding Products and Furniture, Flooring & Textile Products segments.
- Pricing responses related to global steel cost differentials.
- Modest metal margin compression.
- Increased inventory write-downs/reserves realized in the second quarter 2024.
- Several expense items that were abnormally low in 2023 are expected to normalize in 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-0.1%
Avg return
Earnings day
-1.0%
Avg return
5 days after
-1.5%
Avg return
30 days after
51%
35 / 68 earnings
Positive
+31.6%
Q1 2025
Best reaction
-27.7%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.3% | -8.7% | -2.8% | |
| Q4 2025 | -7.7% | -5.0% | -17.9% | |
| Q3 2025 | +15.1% | +1.7% | +10.5% | |
| Q1 2025 | +31.6% | +31.1% | +25.2% | |
| Q4 2024 | +4.5% | -0.7% | -18.9% | |
| Q3 2024 | +4.0% | -1.2% | +3.4% | |
| Q2 2024 | -1.3% | -3.2% | -4.0% | |
| Q1 2024 | -27.7% | -23.9% | -39.9% | |
| Q4 2023 | -11.6% | -14.0% | -11.6% | |
| Q3 2023 | +1.1% | +2.8% | -0.8% | |
| Q2 2023 | -0.7% | +2.7% | -7.0% | |
| Q1 2023 | +0.0% | +1.7% | -5.7% | |
| Q4 2022 | -6.5% | -9.0% | -10.8% | |
| Q3 2022 | -0.4% | -0.1% | +6.6% | |
| Q2 2022 | +0.1% | +2.2% | -3.6% | |
| Q1 2022 | +7.6% | +4.5% | +8.4% | |
| Q4 2021 | +1.4% | +0.9% | -2.4% | |
| Q3 2021 | -7.1% | -5.8% | -13.5% | |
| Q2 2021 | +1.6% | +0.3% | +0.5% | |
| Q1 2021 | +8.5% | +15.8% | +10.2% | |
| Q4 2020 | +0.0% | -1.6% | +14.6% | |
| Q3 2020 | -0.6% | -2.5% | +2.3% | |
| Q2 2020 | -5.3% | -2.3% | +8.7% | |
| Q1 2020 | -10.1% | -11.7% | +4.1% | |
| Q4 2019 | -0.1% | -5.3% | -14.9% | |
| Q3 2019 | +14.0% | +13.3% | +16.3% | |
| Q2 2019 | +2.5% | -2.0% | -6.8% | |
| Q1 2019 | -6.3% | -4.0% | -12.3% | |
| Q4 2018 | +9.5% | +6.1% | +10.0% | |
| Q3 2018 | -7.6% | -3.5% | +1.1% | |
| Q2 2018 | -1.3% | -2.5% | +1.1% | |
| Q1 2018 | -1.9% | -3.5% | -0.5% | |
| Q4 2017 | +1.2% | -1.7% | +0.0% | |
| Q3 2017 | +3.2% | -1.3% | -2.9% | |
| Q2 2017 | -4.3% | -7.2% | -12.6% | |
| Q1 2017 | -2.8% | -1.4% | -3.6% | |
| Q4 2016 | +0.7% | +2.8% | +5.3% | |
| Q3 2016 | +1.9% | +1.6% | +10.5% | |
| Q2 2016 | -1.8% | -4.4% | -3.4% | |
| Q1 2016 | +1.4% | — | — | |
| Q4 2015 | -1.7% | — | — | |
| Q3 2015 | +0.1% | — | — | |
| Q2 2015 | -4.0% | — | — | |
| Q1 2015 | +6.2% | — | — | |
| Q4 2014 | -4.2% | — | — | |
| Q3 2014 | +3.9% | — | — | |
| Q2 2014 | +2.0% | — | — | |
| Q1 2014 | -4.3% | — | — | |
| Q4 2013 | -1.7% | — | — | |
| Q3 2013 | +0.6% | — | — | |
| Q2 2013 | -2.6% | — | — | |
| Q1 2013 | -2.4% | — | — | |
| Q4 2012 | +0.1% | — | — | |
| Q3 2012 | +4.4% | — | — | |
| Q2 2012 | +3.6% | — | — | |
| Q1 2012 | -6.8% | — | — | |
| Q4 2008 | +1.8% | — | — | |
| Q4 2011 | +1.8% | — | — | |
| Q3 2011 | +1.2% | — | — | |
| Q2 2011 | -6.2% | — | — | |
| Q1 2010 | +0.2% | — | — | |
| Q1 2011 | -1.7% | — | — | |
| Q4 2010 | +2.5% | — | — | |
| Q3 2010 | +1.1% | — | — | |
| Q3 2009 | +1.1% | — | — | |
| Q2 2009 | -0.8% | — | — | |
| Q2 2010 | -0.8% | — | — | |
| Q4 2009 | -0.8% | — | — |
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