Leggett & Platt, Incorporated reported a net trade sales of $2.08 billion for the first half of 2025, reflecting a 6.5% decrease compared to $2.23 billion in the same period of 2024. The company experienced a net income of $83.1 million, or $0.60 per share, for the six months ending June 30, 2025, a significant recovery from a net loss of $570.5 million, or $(4.16) per share, in the prior year. The earnings before interest and taxes (EBIT) for the first half of 2025 was $153.3 million, a substantial increase from a loss of $551.3 million in the same period of 2024, primarily due to the non-recurrence of a goodwill impairment charge and improved operational efficiencies.
In terms of operational changes, Leggett & Platt has been actively pursuing its 2024 Restructuring Plan, which aims to consolidate production facilities across its segments. The company has already consolidated 14 facilities and divested a small U.S. machinery business, contributing to a more streamlined operation. Additionally, the company entered into an agreement to sell its Aerospace Products Group for $285 million, which is expected to close in 2025, subject to regulatory approvals. This divestiture is anticipated to provide approximately $240 million in after-tax proceeds.
The company’s performance indicators showed a mixed picture. The Bedding Products segment saw a 12% decline in trade sales, attributed to weak demand in U.S. and European markets, while the Specialized Products segment reported a 5% decrease in sales, primarily due to declines in automotive and hydraulic cylinder markets. However, the Furniture, Flooring & Textile Products segment experienced a smaller decline of 1%. The overall decrease in sales was partially offset by growth in trade wire and rod sales, as well as increased sales in textiles and aerospace.
Leggett & Platt's cash flow from operations for the first half of 2025 was $91 million, an increase of $3 million from the previous year, indicating improved working capital management. The company ended the quarter with cash and cash equivalents of $368.8 million. In July 2025, Leggett & Platt amended its credit facility, extending the maturity date to July 2030 and reducing the revolving commitments from $1.2 billion to $1 billion. The company remains focused on reducing net debt and is evaluating further strategic acquisitions while maintaining a commitment to returning cash to shareholders through dividends and share repurchases.
Looking ahead, Leggett & Platt anticipates continued challenges in market demand, particularly in the residential and automotive sectors, due to macroeconomic pressures and potential impacts from tariffs. The company is actively monitoring these factors and is committed to executing its restructuring initiatives to enhance operational efficiency and profitability.
About LEGGETT & PLATT INC
Leggett & Platt is a diversified manufacturer specializing in engineered components and products for bedding, furniture, automotive, aerospace, and industrial markets. Its core segments include Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products. The company supplies raw materials, finished goods, and custom solutions globally, leveraging vertical integration, innovation, and cost efficiencies to serve OEMs, retailers, and industrial customers.
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