Leggett & Platt Q2 revenue -5.5% to $999.7M, net income -10.3% to $47.1M; Somnigroup merger vote Aug 20

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  All-stock merger with Somnigroup announced April 2026; Leggett shareholders receive 0.1455 Somnigroup shares per share, will own ~8.6% of combined company. Shareholder vote scheduled Aug 20, 2026; HSR waiting period expired. Somnigroup is Leggett's largest customer at ~7% of 2025 sales.

  MD&A: Somnigroup Merger verify on EDGAR →
• high

  Three Chinese subsidiaries received tax assessments totaling $24.5M for alleged failure to satisfy beneficial owner requirements for reduced dividend withholding tax rates (5% vs 10%). Company contesting through administrative appeals; no expense accrued but adverse outcome could materially impact results.

  Notes: China Tax Assessments verify on EDGAR →
• high

  Goodwill impairment risk escalated: Home Furniture fair value cushion compressed to <5% (from 34% in Q2 2025), Bedding to ~10% (from 20%), Work Furniture to ~10% (from 29%). Company warns future impairment possible; 1% discount-rate increase would push Home Furniture below carrying value.

  Notes: Goodwill Impairment Testing verify on EDGAR →