NYSE: LEG
LEGGETT & PLATT INCCIK 0000058492 · SIC 2510 · Household Furniture
We lease many of our manufacturing, warehouse, and other facilities on terms that vary by lease (including purchase options, renewals, and maintenance costs). For additional information regarding lease obligations, see Note K on page 103 of the Notes to Consolidated Financial Statements. We do not… About this business →
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Leggett & Platt Q2 revenue -5.5% to $999.7M, net income -10.3% to $47.1M; Somnigroup merger vote Aug 20
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Leggett & Platt clears U.S. antitrust review for Somnigroup merger, targets year-end close
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Leggett & Platt shareholders approve 4M share addition to equity plan, CEO to sell aircraft
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Leggett & Platt reports Q1 2026 earnings with multiple non-GAAP metrics disclosed
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revenue $918.2M, net income $20.0M. Leggett & Platt to be acquired by Somnigroup; Q1 sales down 10%, EBIT falls
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Leggett & Platt to be acquired by Somnigroup International in all-stock merger
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Latest financial statements
From 10-Q filed Aug 6, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Condensed Statements of Operations (Unaudited)
(Amounts in millions, except per share data)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 | Three months ended June 30, 2026 | Three months ended June 30, 2025 |
|---|---|---|---|---|
| Net trade sales | 1,917.9 | 2,080.1 | 999.7 | 1,058.0 |
| Cost of goods sold | 1,544.0 | 1,697.5 | 796.5 | 865.4 |
| Gross profit | 373.9 | 382.6 | 203.2 | 192.6 |
| Selling and administrative expenses | 241.3 | 242.0 | 119.8 | 118.4 |
| Amortization of intangibles | 6.7 | 8.6 | 3.1 | 3.6 |
| Net gain on disposal of assets and businesses | (21.0) | (21.4) | (11.6) | (19.3) |
| Somnigroup International Inc. merger costs (See Note A) | 13.6 | — | 10.1 | — |
| Other expense (income), net | 8.7 | .1 | 1.7 | (.5) |
| Earnings before interest and income taxes | 124.6 | 153.3 | 80.1 | 90.4 |
| Interest expense | 29.2 | 39.3 | 14.7 | 20.5 |
| Interest income | 4.9 | 2.8 | 3.0 | 1.8 |
| Earnings before income taxes | 100.3 | 116.8 | 68.4 | 71.7 |
| Income taxes | 33.2 | 33.7 | 21.3 | 19.2 |
| Net earnings | 67.1 | 83.1 | 47.1 | 52.5 |
| (Earnings) attributable to noncontrolling interest, net of tax | — | — | — | — |
| Net earnings attributable to Leggett & Platt, Inc. common shareholders | 67.1 | 83.1 | 47.1 | 52.5 |
| Net earnings per share attributable to Leggett & Platt, Inc. common shareholders | ||||
| Basic | .48 | .60 | .34 | .38 |
| Diluted | .47 | .60 | .33 | .38 |
| Weighted average shares outstanding | ||||
| Basic | 139.6 | 138.2 | 140.0 | 138.5 |
| Diluted | 141.3 | 139.1 | 141.6 | 139.6 |
Consolidated Condensed Balance Sheets (Unaudited)
(Amounts in millions)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | 545.8 | 587.4 |
| Trade receivables, net | 518.4 | 433.7 |
| Other receivables, net | 50.0 | 42.2 |
| Inventories | 638.3 | 622.6 |
| Prepaid expenses and other current assets | 78.8 | 57.7 |
| Total current assets | 1,831.3 | 1,743.6 |
| Property, Plant and Equipment—at cost | ||
| Machinery and equipment | 1,484.9 | 1,440.0 |
| Buildings and other | 701.1 | 752.4 |
| Land | 34.7 | 36.7 |
| Total property, plant and equipment | 2,220.7 | 2,229.1 |
| Less accumulated depreciation | 1,573.8 | 1,565.1 |
| Net property, plant and equipment | 646.9 | 664.0 |
| Other Assets | ||
| Goodwill | 745.1 | 751.4 |
| Other intangibles, net | 82.9 | 91.3 |
| Operating lease right-of-use assets | 130.9 | 137.9 |
| Sundry | 165.7 | 148.2 |
| Total other assets | 1,124.6 | 1,128.8 |
| TOTAL ASSETS | 3,602.8 | 3,536.4 |
| LIABILITIES AND EQUITY | ||
| Current Liabilities | ||
| Current maturities of long-term debt and short-term debt | 1.5 | 1.5 |
| Current portion of operating lease liabilities | 48.5 | 51.5 |
| Accounts payable | 475.5 | 466.6 |
| Accrued expenses | 210.7 | 227.3 |
| Other current liabilities | 43.1 | 28.1 |
| Total current liabilities | 779.3 | 775.0 |
| Long-term Liabilities | ||
| Long-term debt | 1,496.8 | 1,496.2 |
| Operating lease liabilities | 100.3 | 106.7 |
| Other long-term liabilities | 88.2 | 83.0 |
| Deferred income taxes | 56.0 | 52.9 |
| Total long-term liabilities | 1,741.3 | 1,738.8 |
| Commitments and Contingencies | ||
| Equity | ||
| Common stock | 2.0 | 2.0 |
| Additional contributed capital | 530.1 | 550.3 |
| Retained earnings | 2,325.3 | 2,272.2 |
| Accumulated other comprehensive loss | (17.7) | (9.0) |
| Treasury stock | (1,758.0) | (1,793.4) |
| Total Leggett & Platt, Inc. equity | 1,081.7 | 1,022.1 |
| Noncontrolling interest | .5 | .5 |
| Total equity | 1,082.2 | 1,022.6 |
| TOTAL LIABILITIES AND EQUITY | 3,602.8 | 3,536.4 |
Consolidated Condensed Statements of Cash Flows (Unaudited)
(Amounts in millions)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Operating Activities | ||
| Net earnings | 67.1 | 83.1 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
| Depreciation | 49.3 | 52.0 |
| Amortization of intangibles and supply agreements | 7.4 | 9.3 |
| Long-lived asset impairment | 3.0 | 1.2 |
| Increase in provision for losses on accounts receivable | 2.9 | 1.8 |
| Write-down of inventories | 7.1 | 8.1 |
| Net gain from disposal of assets and businesses | (21.0) | (21.4) |
| Deferred income tax benefit (expense) | 5.5 | (1.6) |
| Stock-based compensation | 15.2 | 12.5 |
| Other, net | (.3) | (6.4) |
| Changes in working capital, excluding effects from acquisitions and divestitures: | ||
| Accounts and other receivables | (103.2) | (18.1) |
| Inventories | (25.5) | 17.2 |
| Other current assets | (7.9) | (1.7) |
| Accounts payable | 1.6 | (14.6) |
| Accrued expenses and other current liabilities | (11.5) | (30.6) |
| Net Cash (Used for) Provided by Operating Activities | (10.3) | 90.8 |
| Investing Activities | ||
| Additions to property, plant and equipment | (44.8) | (21.8) |
| Proceeds from disposal of Aerospace Products Group | 4.2 | — |
| Proceeds from disposals of assets and businesses | 22.7 | 29.1 |
| Other, net | (1.0) | 3.0 |
| Net Cash (Used for) Provided by Investing Activities | (18.9) | 10.3 |
| Financing Activities | ||
| Payments on long-term debt | — | (.1) |
| Change in commercial paper and short-term debt | 1.4 | (77.3) |
| Dividends paid | (13.6) | (13.5) |
| Purchases of common stock | (3.7) | (2.3) |
| Other, net | (.8) | (.6) |
| Net Cash Used for Financing Activities | (16.7) | (93.8) |
| Effect of Exchange Rate Changes on Cash | 4.3 | 11.3 |
| (Decrease) Increase in Cash and Cash Equivalents | (41.6) | 18.6 |
| Cash and Cash Equivalents—January 1, | 587.4 | 350.2 |
| Cash and Cash Equivalents—June 30, | 545.8 | 368.8 |
Amounts as printed on the EDGAR/iXBRL face — (Amounts in millions, except per share data); (Amounts in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
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About LEGGETT & PLATT INC
Source: Item 1 (Business) from the 10-K filed February 26, 2025. Description as filed by the company with the SEC.
Item 1. Business on page 8.
Manufacturing Locations Owned or Leased by Segment
Company-
Wide
Subtotals by Segment
Manufacturing Locations
Bedding
Products
Specialized
Products
Furniture,
Flooring &
Textile
Products
Owned61251422
Leased5882030
Total119333452
We lease many of our manufacturing, warehouse, and other facilities on terms that vary by lease (including purchase options, renewals, and maintenance costs). For additional information regarding lease obligations, see Note K on page 103 of the Notes to Consolidated Financial Statements. We do not have any manufacturing facilities that are subject to liens or encumbrances that are material to the segment in which they are reported or to the Company as a whole.
No individual physical property is material to our overall manufacturing processes, except for our steel rod mill in Sterling, Illinois, and our wire mills in Carthage, Missouri, and Kouts, Indiana. These facilities are reported in our Bedding Products segment. The rod mill consists of approximately 1 million square feet of owned production space. It has annual output capacity of approximately 500,000 tons of steel rod, of which approximately half is used by our own wire mills. Our wire mills convert the steel rod into drawn steel wire. This wire is used in the production of many of our products, including mattress innersprings. A disruption to the operation of, or supply of steel scrap to, our steel rod mill could require us to purchase steel rod from alternative supply sources, subject to market availability. A disruption to the operation of, or supply of steel rod to, our wire mills could require us to purchase drawn wire from alternative supply sources, subject to market availability. Trade actions by the U.S. government, along with the existence of antidumping and countervailing duty orders against multiple countries, could result in reduced market availability and/or an increase in the cost of steel rod and/or drawn wire. If we experience a disruption in our ability to produce steel rod in our mill, for whatever reason, coupled with a reduction of adequate and/or timely supply from alternative market sources of quality
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steel rod, or if we experience a disruption in our ability to produce drawn wire in our wire mills, for whatever reason, coupled with a reduction of adequate and/or timely supply from alternative market sources of quality drawn wire, we could experience a material negative impact on our Bedding Products segment’s and the Company’s results of operations.
We believe that our owned and leased facilities are suitable and adequate for the manufacture, assembly, and distribution of our products. Our properties are strategically located to allow timely and efficient delivery of products and services to our diverse customer base. In 2024, most of our manufacturing facilities operated at less than full capacity utilization rates. As such, we have excess production capacity in most of our businesses.
In the first quarter of 2024, we committed to the 2024 Restructuring Plan, pursuant to which we have consolidated 14 manufacturing and distribution facilities in the Bedding Products segment, and two production facilities in the Furniture, Flooring & Textile Products segment, primarily in the United States. The production in the affected facilities has been consolidated into other facilities, or in a few cases, eliminated. Optimizing our manufacturing and distribution footprint should reduce complexity, improve overall efficiency, and align capacity with anticipated future market demand. For more information about the 2024 Restructuring Plan, please see the discussion under 2024 Restructuring Plan in Operational Risk Factors beginning on page 15 in