Leggett & Platt Inc
NYSE:LEG

  • LAST PRICE
    18.0700
  • TODAY'S CHANGE (%)
    -0.2600 (-1.4184%)
  • Bid / Lots
    15.8000/ 1
  • Ask / Lots
    16.0000/ 1
  • Open / Previous Close
    18.1400 / 18.3300
  • Day Range
    18.0400
    18.2800
  • 52 Week Range
    17.1900
    33.5000
  • Volume
    2,284,625

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  • Today

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    • 2 hours ago by Dow Jones
      Companies Mentioned: LEG

      By Sabela Ojea

      Leggett & Platt cut its quarterly dividend by 89%, to 5 cents, to free up capital and improve its balance sheet.

      The company on Tuesday said its board of directors approved a quarterly payout to shareholders of 5 cents, down from 46 cents a share previously.

    • 3 hours ago by MT Newswires
      Companies Mentioned: LEG
      04:13 PM EDT, 04/30/2024 (MT Newswires) -- ...

    • 3 hours ago by MT Newswires
      Companies Mentioned: LEG
      04:12 PM EDT, 04/30/2024 (MT Newswires) -- ...

    • 3 hours ago by PR Newswire
      Companies Mentioned: LEG

      -- 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

    • 3 hours ago by Dow Jones
      Companies Mentioned: LEG
      (3) Refer to next page for non-GAAP reconciliations. (4) Consists primarily of depreciation of non-operating assets. (5) EBITDA based on trailing twelve months. (6) Trade sales excluding sales attributable to acquisitions and divestitures consummated in the last 12 months. LEGGETT & PLATT Page 8 of 8 April 30, 2024 ----------------------- ------------------------- ------- --- ------- ---------------- RECONCILIATION OF REPORTED (GAAP) TO ADJUSTED (Non-GAAP) FINANCIAL MEASURES (10) -------------------------------------------------------------------------------------------- Non-GAAP Adjustments (7) 2022 2023 2024 ----------------------- ------------ ------------------------------------------- ------- (In millions, except per share data) 4Q 1Q 2Q 3Q 4Q 1Q ----------------------- ------------ ----------- ------- --- ------- ------- ------- Restructuring, restructuring-related, and impairment charges -- -- -- -- -- 10.8 Gain on sale of real estate -- -- -- (5.4) (5.5) (7.9) Gain from net insurance proceeds from tornado damage -- -- (3.6) -- (5.3) (2.2) Long-lived asset impairment -- -- -- -- 443.7 -- ------------ ----------- ------- ------- ------- ------- Non-GAAP Adjustments (Pretax) (8) -- -- (3.6) (5.4) 432.9 0.7 Income tax impact -- -- 0.9 0.9 (99.9) (0.2) ------------ ----------- ------- ------- ------- ------- Non-GAAP Adjustments (After Tax) -- -- (2.7) (4.5) 333.0 0.5 ============ =========== ======= ======= ======= ======= Diluted shares outstanding 136.1 136.3 136.6 136.8 136.5 137.3 EPS Impact of Non-GAAP Adjustments -- -- (0.02) (0.03) 2.44 -- ============ =========== ======= ======= ======= ======= Adjusted EBIT, EBITDA, Margin, and EPS (7) 2022 2023 2024 ----------------------- ------------ ------------------------------------------- ------- (In millions, except per share data) 4Q 1Q 2Q 3Q 4Q 1Q ----------------------- ------------ ----------- ------- --- ------- ------- ------- Trade sales 1,195.8 1,213.6 1,221.2 1,175.4 1,115.1 1,096.9 EBIT (earnings before interest and taxes) 91.2 89.3 95.7 91.4 (366.8) 63.0 Non-GAAP adjustments (pretax) -- -- (3.6) (5.4) 432.9 0.7 ------------ ----------- ------- ------- ------- ------- Adjusted EBIT 91.2 89.3 92.1 86.0 66.1 63.7 ============ =========== ======= ======= ======= ======= EBIT margin 7.6 % 7.4 % 7.8 % 7.8 % -32.9 % 5.7 % Adjusted EBIT Margin 7.6 % 7.4 % 7.5 % 7.3 % 5.9 % 5.8 % ============ =========== ======= ======= ======= ======= EBIT 91.2 89.3 95.7 91.4 (366.8) 63.0 Depreciation and amortization 45.5 45.4 44.7 45.0 44.8 32.9 ------------ ----------- ------- ------- ------- ------- EBITDA 136.7 134.7 140.4 136.4 (322.0) 95.9 Non-GAAP adjustments (pretax) -- -- (3.6) (5.4) 432.9 0.7 ------------ ----------- ------- ------- ------- ------- Adjusted EBITDA 136.7 134.7 136.8 131.0 110.9 96.6 ============ =========== ======= ======= ======= ======= EBITDA margin 11.4 % 11.1 % 11.5 % 11.6 % -28.9 % 8.7 % Adjusted EBITDA Margin 11.4 % 11.1 % 11.2 % 11.1 % 9.9 % 8.8 % ============ =========== ======= ======= ======= ======= Diluted EPS 0.39 0.39 0.40 0.39 (2.18) 0.23 EPS impact of non-GAAP adjustments -- -- (0.02) (0.03) 2.44 -- ------------ ----------- ------- ------- ------- ------- Adjusted EPS 0.39 0.39 0.38 0.36 0.26 0.23 ============ =========== ======= ======= ======= ======= Net Debt to Adjusted EBITDA (9) 2022 2023 2024 ----------------------- ------------ ------------------------------------------- ------- 4Q 1Q 2Q 3Q 4Q 1Q ----------------------- ------------ ----------- ------- --- ------- ------- ------- Total debt 2,083.6 2,117.8 2,024.6 1,971.9 1,987.6 2,076.7 Less: cash and equivalents (316.5) (344.5) (272.4) (273.9) (365.5) (361.3) ------------ ----------- ------- ------- ------- ------- Net debt 1,767.1 1,773.3 1,752.2 1,698.0 1,622.1 1,715.4 Adjusted EBITDA, trailing 12 months 664.8 616.2 565.5 539.2 513.4 475.3 ============ =========== ======= ======= ======= ======= Net Debt / 12-month Adjusted EBITDA 2.66 2.88 3.10 3.15 3.16 3.61 (7) Management and investors use these measures as supplemental information to assess operational performance. (8) The $432.9, ($5.4), and ($3.6) 2023 non-GAAP adjustments are included in the Other (income) expense, net line on the income statement. The $.7 non-GAAP adjustment for 1Q 2024 is shown on the income statement as follows: $2.3 Cost of goods sold, $.5 Selling and administrative expenses, and ($2.1) Other (income) expense, net. (9) Management and investors use this ratio as supplemental information to assess ability to pay off debt. These ratios are calculated differently than the Company's credit facility covenant ratio. (10) Calculations impacted by rounding.

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