Overview

• Leggett & Platt Q3 sales decline 6%, missing analyst expectations, per LSEG data

• Adjusted EPS for Q3 2025 decreased by $0.03 vs Q3 2024

• Company reduced debt by $296 mln, strengthening balance sheet

Outlook

• Leggett & Platt expects 2025 sales of $4.0–$4.1 bln, down 6% to 9% vs 2024

• EPS for 2025 expected to be $1.52–$1.72, adjusted EPS $1.00–$1.10

• Company anticipates mid to high single-digit volume decline in 2025

Result Drivers

• SOFT DEMAND - Volume decreased 6% due to continued soft demand in residential end markets, Automotive, and Hydraulic Cylinders

• AEROSPACE DIVESTITURE - Sale of Aerospace business completed, contributing to debt reduction and focus on core operations

• PRICE INCREASES AND CURRENCY - Raw material-related selling price increases and currency benefit increased sales 2%

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the home furnishings peer group is "buy."

• Wall Street's median 12-month price target for Leggett & Platt Inc is $10.00, about 8.8% above its October 24 closing price of $9.12

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release: ID:nPn9LF4cDa

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)