Leggett & Platt
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Leggett & Platt (LEG) investor relations material

Leggett & Platt Q1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Leggett & Platt Incorporated
Q1 2026 earnings summary7 May, 2026

Executive summary

  • Entered into a merger agreement with Somnigroup in April 2026; transaction expected to close by year-end, subject to customary and regulatory approvals.

  • Q1 2026 sales were $918 million, down 10% year-over-year, with a 5% decrease from divestitures and 5% organic sales decline.

  • EBIT for Q1 2026 was $45 million, down from $63 million in Q1 2025, impacted by lower volume, divestitures, restructuring, and merger costs.

  • EPS for Q1 2026 was $0.14, compared to $0.22 in Q1 2025; adjusted EPS was $0.15, both down significantly year-over-year.

  • Operating cash flow was negative $56 million in Q1 2026, a $63 million decrease from Q1 2025.

Financial highlights

  • Net trade sales: $918.2 million in Q1 2026 vs. $1,022.1 million in Q1 2025.

  • Net earnings: $20.0 million in Q1 2026 vs. $30.6 million in Q1 2025.

  • Gross profit: $170.7 million in Q1 2026 vs. $190.0 million in Q1 2025; gross margin was 18.6%.

  • EBIT margin fell to 4.8% from 6.2% year-over-year; adjusted EBIT margin dropped to 4.7% from 6.5%.

  • Adjusted EBITDA for Q1 2026 was $71.6 million, down 27% year-over-year; margin was 7.8%.

Outlook and guidance

  • 2026 guidance withdrawn due to the pending Somnigroup acquisition; no conference call will be held.

  • Full-year effective tax rate expected to be approximately 30%.

  • Capital expenditures for 2026 projected at $100–$115 million.

  • Acquisition activity expected to be minimal for 2026.

  • Demand in 2026 expected to remain muted due to macroeconomic and industry uncertainties.

Impact of exiting the U.S. Spring customer
War in Iran effects on 2Q cost structure
Vietnam facility costs impact on FF&T EBIT
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