Leggett (LEG) Lags on Q1 Earnings & Sales, Cuts Dividend by 89% [Yahoo! Finance]
Leggett & Platt, Incorporated (LEG)
Last leggett & platt, incorporated earnings: 2/3 04:20 pm
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Source: Yahoo! Finance
The metrics declined on a year-over-year basis due to persistent weak demand in most of the markets served and lower price realization. Following the results, the stock plunged 13.1% in the after-hour trading session on Apr 30. Leggett significantly reduced its second-quarter dividend to 5 cents from the prior-year figure of 46 cents. The company noted that the move has been undertaken to free up capital to accelerate the deleveraging of its balance sheet and solidify long-held financial strength. The dividend will be paid on Jul 15, 2024, to shareholders of record on Jun 14. Quarter in Details Leggett reported adjusted earnings per share (EPS) of 23 cents, which lagged the consensus estimate of 25 cents by 8% and decreased 41% from 39 cents reported a year ago. Net trade sales of $1.1 billion missed the consensus mark of $1.11 billion by 1.5% and declined 9.6% from the prior-year quarter's level of $1.2 billion (all organic). Volume declined 6% due to continued demand softn
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News
- Leggett & Platt First Quarter 2024 Earnings: Misses Expectations [Yahoo! Finance]Yahoo! Finance
- Empowering Women in Business Conference inspires leadership and networking [Yahoo! Finance]Yahoo! Finance
- LEGGETT & PLATT ANNOUNCES ANNUAL MEETING RESULTSPR Newswire
- Leggett & Platt, Incorporated (NYSE: LEG) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Trade secret claim still viable despite disclosure in patent application [Reuters]Reuters
LEG
Earnings
- 4/30/24 - Miss
LEG
Sec Filings
- 5/10/24 - Form 8-K
- 5/9/24 - Form 4/A
- 5/8/24 - Form 10-Q
- LEG's page on the SEC website