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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.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2026 guidance withdrawn due to the pending Somnigroup acquisition; no conference call will be held.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.
- 2025 sales declined but margins and debt improved; 2026 outlook targets efficiency and cash flow.LEG
Q4 202522 Apr 2026 - $2.5B all-stock acquisition expands global reach and targets $50M in annual synergies.LEG
M&A announcement14 Apr 2026 - Shareholders will vote virtually on directors, auditor, compensation, and stock plan amendments.LEG
Proxy filing7 Apr 2026 - Director elections, auditor ratification, and executive pay up for vote at 2026 annual meeting.LEG
Proxy filing7 Apr 2026 - Virtual annual meeting to vote on directors, auditor, executive pay, and stock plan amendments.LEG
Proxy filing7 Apr 2026 - Disciplined restructuring and innovation drive margin improvement and cash flow amid market headwinds.LEG
Investor presentation10 Mar 2026 - Q2 loss driven by $675M impairment, lower sales, and restructuring; dividend cut for deleveraging.LEG
Q2 20242 Feb 2026 - Sales and earnings fell, guidance cut, and restructuring, impairment, and deleveraging continue.LEG
Q3 202418 Jan 2026 - Adjusted EPS up to $0.24 despite 7% sales drop; 2025 outlook and deleveraging focus maintained.LEG
Q1 202527 Dec 2025
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