Quarterly ResultMay 7, 2026, 11:58 AM
Leggett & Platt Q1 Net Earnings $20M, Sales $918.2M; Somnigroup Merger Costs
AI Summary
Leggett & Platt reported a decline in Q1 2026 financial performance, with net earnings falling to $20.0 million from $30.6 million in the prior year, and net trade sales decreasing to $918.2 million. The company incurred $3.5 million in costs related to the Somnigroup International Inc. merger and initiated a new 2026 Restructuring Plan, consolidating three manufacturing facilities with expected costs of $15.0 million. Operating activities shifted from providing cash to using $56.1 million during the quarter.
Key Highlights
- Q1 2026 net earnings were $20.0 million, down from $30.6 million in Q1 2025.
- Net trade sales for Q1 2026 decreased to $918.2 million from $1,022.1 million year-over-year.
- Basic EPS for Q1 2026 was $0.14, compared to $0.22 in the prior year period.
- Incurred $3.5 million in costs related to the Somnigroup International Inc. merger.
- Launched a 2026 Restructuring Plan, consolidating 3 facilities, with $15.0 million expected costs.
- Net cash used for operating activities was $56.1 million, a shift from $6.8 million provided in Q1 2025.
- Bedding Products segment sales were $364.9 million; Specialized Products sales were $244.1 million.
- Total assets stood at $3,519.1 million at March 31, 2026.