Leggett & Platt Reports Third Quarter 2025 Financial Results

Leggett & Platt has released its financial results for the third quarter of 2025, reporting net sales of $1.0 billion, a decline of 6% compared to the same period in 2024. The company’s earnings per share (EPS) stood at $0.91, which represents a significant increase from $0.33 in the previous year. However, adjusted EPS decreased by $0.03 to $0.29 from $0.32 in the same quarter last year.

In a statement, President and CEO Karl Glassman expressed satisfaction with the quarter’s results, emphasizing that they were achieved despite ongoing macroeconomic challenges. “Our performance reflects continued progress on strategic priorities and disciplined execution across the company,” he stated. The company also reaffirmed its midpoint guidance for full-year sales and adjusted EPS while narrowing the range for both metrics.

Third Quarter Financial Highlights

Leggett & Platt’s operating cash flow for the third quarter was $126 million, marking a $30 million increase from the third quarter of 2024. The company has strengthened its balance sheet by reducing debt by $296 million, utilizing proceeds from the sale of its Aerospace business along with operational cash flow.

Despite the overall decline in sales, certain segments showed growth. The decline in revenue was attributed mainly to decreased demand in residential markets, automotive, and hydraulic cylinders, which was partially offset by gains in textiles and work furniture. Raw material price increases and favorable currency effects contributed an additional 2% to sales, while divestitures negatively impacted revenue by 2%.

Operating income before interest and taxes (EBIT) reached $171 million, an increase of $93 million year-on-year, while adjusted EBIT fell slightly to $73 million, a $3 million decrease compared to the same quarter last year. The adjustments included restructuring charges and gains from divestitures, which contributed to a complex financial picture.

Segment Performance and Future Outlook

In terms of specific segments, the Bedding Products division saw a 10% decrease in trade sales, driven by a 13% drop in volume due to lower customer demand and changes in retailer merchandising strategies. However, the Specialized Products segment reported a 7% decline in trade sales, with a notable 88 million increase in EBIT attributed to the sale of the Aerospace Products Group.

Looking ahead, Leggett & Platt anticipates a decline in sales volume between mid to high single digits for the remainder of 2025. The company has reaffirmed its guidance for total sales to be between $4.0 billion and $4.1 billion, reflecting a decrease of 6% to 9% compared to 2024.

The company expects to achieve an EBIT margin of between 8.4% and 9.0% for 2025, with adjusted EBIT margins projected at 6.4% to 6.6%. Additionally, Leggett & Platt plans to maintain a focus on generating strong cash flow and enhancing shareholder value.

As of September 30, 2025, total liquidity stood at $974 million, including $461 million in cash and $513 million available under its revolving credit facility.

Leggett & Platt continues to navigate the complexities of a changing economic landscape while implementing its restructuring plan, which is expected to yield an annual EBIT benefit of between $60 million and $70 million once fully realized. The company remains committed to its strategic priorities and executing its vision for long-term growth and stability.