Business
Leggett & Platt Reports 1Q 2025 Results
1Q sales of $1.0 billion, a 7% decrease vs 1Q24
About this update from Leggett & Platt, Incorporated
[{"type":"text","content":"CARTHAGE, Mo., April 28, 2025 /PRNewswire/ --","length":45,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"1Q sales of $1.0 billion, a 7% decrease vs 1Q24","length":47,"tagName":"p"}]},{"val":[{"type":"text","content":"1Q EPS of $.22, 1Q adjusted1 EPS of $.24, a $.01 increase vs adjusted1 1Q24 EPS","length":79,"tagName":"p"}]},{"val":[{"type":"text","content":"1Q operating cash flow of $7 million, a $13 million increase vs 1Q24","length":68,"tagName":"p"}]},{"val":[{"type":"text","content":"2025 guidance sales and adjusted EPS unchanged: sales of $4.0–$4.3 billion, EPS of $.85–$1.26; adjusted EPS of $1.00–$1.20","length":122,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":316,"olType":false},{"type":"text","content":"President and CEO Karl Glassman commented, "We are pleased to report better than anticipated first quarter earnings. Our earnings improvement is a testament to the excellent execution of our restructuring plan and operational efficiency improvement initiatives, as well as disciplined cost management. As we navigate the complex and fluid tariff environment, we are mitigating impacts while pursuing any opportunities to capture increased demand for domestically produced products. While we expect that tariffs overall may be a net positive for our business, we are concerned about potential negative effects on inflation, consumer confidence, and discretionary demand.","length":674,"tagName":"p"},{"type":"text","content":""Now more than ever, we are committed to our strategic priorities of strengthening our balance sheet, improving profitability and operational efficiency, and positioning the company for long-term growth. Our restructuring plan continues to make progress, and in early March we divested a small U.S. machinery business. As part of our ongoing strategic portfolio review, we recently signed an agreement to sell our Aerospace business, which we expect to close this year.","length":474,"tagName":"p"},{"type":"text","content":""Given our conservative outlook due to macroeconomic uncertainties as we entered the year and despite the current trade policy uncertainties, we are maintaining our sales and adjusted EPS guidance for 2025. Although the domestic bedding industry is now expected to be more challenged than previously anticipated, the resulting lower volume...