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Leggett & Platt (LEG) investor relations material
Leggett & Platt Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 sales were $1.0–$1.036 billion, down 6% year-over-year, with volume down 6% and divestitures reducing sales by 2%, mainly due to soft demand in residential end markets.
Adjusted EBIT was $73 million, down $3 million year-over-year, with a margin of 7.0%, up 10 bps; adjusted EPS was $0.29, down $0.03 year-over-year.
EBIT and EPS rose sharply due to $87 million gain from Aerospace Products Group sale and $13 million insurance gain, despite lower sales.
Operating cash flow increased to $126 million in Q3, up $30 million year-over-year, driven by working capital improvements.
Completed the divestiture of the Aerospace business, using proceeds and operating cash flow to reduce net debt by $296 million in Q3 to $1.5 billion.
Financial highlights
Q3 2025 sales were just over $1 billion, down 6% year-over-year; YTD sales were $3.1 billion, down 6% year-over-year.
Q3 EBIT was $171 million, up $93 million year-over-year; adjusted EBIT was $73 million, down $3 million.
Q3 EPS was $0.91; adjusted EPS was $0.29, a $0.03 decrease year-over-year.
Operating cash flow for the quarter was $126 million; YTD operating cash flow was $217 million.
Net debt to adjusted EBITDA improved to 2.6x at 9/30/2025 from 3.8x a year earlier.
Outlook and guidance
2025 sales guidance reaffirmed at $4.0–$4.1 billion, down 6–9% versus 2024.
Adjusted EPS guidance narrowed to $1.00–$1.10, flat at midpoint versus 2024.
Adjusted EBIT margin expected between 6.4% and 6.6%.
Operating cash flow for 2025 projected at $300 million; capital expenditures at $60–$70 million.
2024 Restructuring Plan expected to be substantially complete by end of 2025, with annualized EBIT benefit of $60–$70 million.
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