By Roshan Fernandez

Leggett & Platt said the Trump Administration's tariff policies may have an overall positive effect for its business, while also expressing concern about potential negative effects on consumers' confidence and spending.

The Carthage, Mo.-based manufacturer of home and automotive goods said headwinds to its domestic bedding sector will likely be offset by benefits from steel-related tariffs.

"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," Chief Executive Karl Glassman said.

The company on Monday said first-quarter profit fell to $30.6 million, or 22 cents a share, from $31.6 million, or 23 cents a share, a year earlier.

Excluding one-time items, per-share earnings were 24 cents, above the 22 cents a share that analysts were expecting, according to FactSet.

Revenue fell 7% to $1.02 billion compared to a year ago, on par with what analysts surveyed by FactSet had forecast.

Sales of bedding products decreased 13% due to demand softness in the U.S. and European markets. Sales of furniture, flooring and textile products decreased 1% due to weaker demand in residential end markets. Specialized product sales, including automotive and hydraulic Cylinders, fell 5%.

The company said it is maintaining its guidance for the full year. Glassman said the company entered the year with a "conservative outlook due to macroeconomic uncertainties."

Shares rose 15% to $8.33 in Monday's aftermarket trading.

Write to Roshan Fernandez at roshan.fernandez@wsj.com

(END) Dow Jones Newswires

April 28, 2025 16:51 ET (20:51 GMT)

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