财务数据和关键指标变化 - 第一季度销售额为11亿美元,同比下降10%,主要受到住宅终端市场需求下降和原材料相关售价下降的影响 [1][2][3] - 第一季度EBIT为6300万美元,同比下降2600万美元,主要受到销量下降、坏账准备增加、与先前收购相关的或有对价负债减少收益的减少以及疫情相关成本补贴的不复现等因素的影响,部分被摊销费用的降低所抵消 [3][4] - 第一季度每股收益和调整后每股收益为0.23美元,同比下降41% [4] 各条业务线数据和关键指标变化 - 床品产品分部销售额同比下降15%,受国内外床品市场持续疲软影响,美国弹簧销量下降15% [3][4] - 专业产品分部销售额同比下降1%,汽车业务销量与市场持平,航空业务销量同比增长13%,液压缸业务销售受重型建筑市场需求疲软和价格指数调整滞后的影响 [4] - 家具、地板和纺织品分部销售额同比下降9%,家具和地板需求持续疲软,土木工程需求在纺织品业务中有所增长 [4] 各个市场数据和关键指标变化 - 美国床垫市场产量预计全年将略有下降 [4] - 汽车业务预计将在2024年持续优于全球汽车产量 [4] - 航空业务需求持续强劲,正在从疫情影响中恢复 [4] - 重型建筑市场需求疲软,但材料搬运业务订单充足 [4] - 住宅建筑和装修活动下降导致地板产品需求下降,酒店需求恢复速度低于预期 [4] - 基础设施投资将为土木工程业务带来利好 [4] 公司战略和发展方向及行业竞争 - 公司正在执行重组计划,优化制造和分销网络,以提高盈利能力 [2][3] - 公司将重点投资于床品、汽车和土木工程业务,利用自身在弹簧和泡沫方面的能力,开发差异化产品 [2][3] - 国内床垫制造商面临需求疲软、产能过剩和进口成品床垫竞争加剧等挑战,行业格局发生重大变化 [2][3] - 公司需要调整业务以在当前和未来的床垫市场中保持竞争力 [2][3] - 公司正在评估业务组合,简化复杂的业务结构 [11][12] 管理层对经营环境和未来前景的评论 - 公司预计2024年销售额和每股收益指引保持不变,但住宅终端市场需求疲软将持续施加压力 [4][5] - 管理层认为,即使在当前不确定的宏观经济环境和住宅市场需求疲软的情况下,公司的重组计划和战略举措将有助于改善业绩 [4] - 管理层表示,公司将继续保持财务实力,并通过优化运营和管理成本来提高利润率 [2][3] - 管理层对公司长期发展前景保持信心,认为正在采取的措施将有助于增强股东价值 [2][3] 问答环节重要的提问和回答 问题1 **Susan Maklari 提问** 关于公司调减股息的原因和对未来盈利能力的影响 [6][7] **Mitchell Dolloff 回答** 公司经过深入评估后决定调减股息,以腾出资金偿还债务、投资业务发展,并保持灵活性以应对未来机遇。公司相信正在采取的措施将有助于改善盈利能力 [6][7] 问题2 **Bobby Griffin 提问** 关于床品业务国内竞争加剧的原因,以及公司的应对措施 [8][9][10] **Tyson Hagale 回答** 国内竞争加剧是由于进口设备制造商的崛起,以及反倾销案导致的国内生产回流。公司正在通过开发差异化产品、提高生产效率等措施应对 [8][9][10] 问题3 **Peter Keith 提问** 关于公司未来是否会进行业务组合调整 [11][12] **Mitchell Dolloff 回答** 公司一直关注业务组合管理,正在评估简化业务结构的机会,但目前正全力推进重组计划和提升运营效率,未来会根据进展情况作出决策 [11][12]

FFirstt Quarterr 2024 Summaryy Financiall Informationn andd Strategicc Businesss Update April 30, 2024 Forward-Looking Statements Statements in this presentation that are not historical in nature are “forward-looking.” These statements are identified either by the context in which they appear or by use of words such as “anticipate,” believe,” “estimate,” “expect,” “guidance,” “intend,” “may,” “plan,” “project,” “should,” or the like. These statements include, but are not limited to, future EPS, adjusted EPS ...

Legget & Platt (LEG) reported $1.1 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 9.6%. EPS of $0.23 for the same period compares to $0.39 a year ago.The reported revenue represents a surprise of -1.53% over the Zacks Consensus Estimate of $1.11 billion. With the consensus EPS estimate being $0.25, the EPS surprise was -8.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

Legget & Platt (LEG) came out with quarterly earnings of $0.23 per share, missing the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -8%. A quarter ago, it was expected that this engineered component manufacturer would post earnings of $0.26 per share when it actually produced earnings of $0.26, delivering no surprise.Over the last four quarters, ...

Exhibit 99.1 FOR IMMEDIATE RELEASE: APRIL 30, 2024 LEGGETT & PLATT REPORTS 1Q RESULTS, ANNOUNCES 2Q DIVIDEND OF $.05 AND UPDATES CAPITAL ALLOCATION PRIORITIES Carthage, MO, April 30, 2024 --- · 1Q sales of $1.1 billion, a 10% decrease vs 1Q23 · 1Q EPS and adjusted1 EPS of $.23, a decrease of $.16 vs 1Q23 · Board declared second quarter dividend of $.05 per share · Company updated capital allocation priorities · 2024 sales and EPS guidance unchanged: sales of $4.35–$4.65 billion; EPS of $.95–$1.25 and adjust ...

CARTHAGE, Mo., April 30, 2024 /PRNewswire/ --  1Q sales of $1.1 billion, a 10% decrease vs 1Q23 1Q EPS and adjusted1 EPS of $.23, a decrease of $.16 vs 1Q23 Board declared second quarter dividend of $.05 per share Company updated capital allocation priorities 2024 sales and EPS guidance unchanged: sales of $4.35–$4.65 billion; EPS of $.95–$1.25 and adjusted1 EPS of $1.05–$1.35 President and CEO Mitch Dolloff commented, "First quarter results were in line with our expectations and our full year sales and E ...

Analysts on Wall Street project that Legget & Platt (LEG) will announce quarterly earnings of $0.25 per share in its forthcoming report, representing a decline of 35.9% year over year. Revenues are projected to reach $1.11 billion, declining 8.2% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company announces its ...

High-yield stocks often catch the eye of investors due to the seemingly significant, tangible returns on investment. Yet, not all that glitters is gold. In fact, it’s often the case that many names offering outsized yields are attached to a number of risks. Some mask such lurking risks beneath their attractive yields, these are known as dividend yield traps.A yield trap occurs when a stock’s dividend appears enticingly high, often above the industry average or historical norms. Yet, what one can initially p ...

Carthage, MO, April 16, 2024 (GLOBE NEWSWIRE) -- Leggett & Platt (NYSE:LEG), a diversified manufacturer of engineered products serving several major markets, will release first quarter earnings results on Tuesday, April 30, 2024 after the market closes, and hold its quarterly conference call to discuss first quarter results, annual guidance, market conditions, company initiatives, and related matters on Wednesday, May 1, 2024, at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). This call will be webcast and ...

gerisima/iStock via Getty Images Investment Thesis Years of lower sales, shrinking ROIC, and declining margins add to the many risks ahead for Leggett & Platt, Incorporated (NYSE:LEG). This Dividend King could even lose its crown if their situation does not improve. Bedding And Bedding Accessories Leggett & Platt is a company that makes various consumer-discretionary products, particularly bedding products like mattress springs, adjustable beds, steel rods, and others. They also offer home furniture produ ...