MergerMay 7, 2026, 06:47 AM
Leggett & Platt to be Acquired by Somnigroup; Q1 Sales $918M
AI Summary
Leggett & Platt announced its Q1 2026 financial results, reporting sales of $918 million, a 10% decrease year-over-year, and adjusted EPS of $0.15, down $0.09 from the prior year. The company also confirmed its pending acquisition by Somnigroup International, which was announced on April 13, 2026, and is expected to close by year-end 2026. Due to this merger agreement, Leggett & Platt has withdrawn its previously issued 2026 guidance and will not host a conference call.
Key Highlights
- Leggett & Platt entered agreement to be acquired by Somnigroup International on April 13, 2026.
- Transaction expected to close by year-end 2026, subject to approvals.
- Company withdrew previously issued 2026 guidance due to pending acquisition.
- Q1 2026 sales were $918 million, a 10% decrease from Q1 2025.
- Q1 2026 adjusted EPS was $0.15, down $0.09 from adjusted Q1 2025.
- Operating cash flow was negative $56 million in Q1 2026.
- Net Debt/Adjusted EBITDA (trailing 12 months) was 2.8x.
- Bedding Products trade sales decreased 7% in Q1 2026.
- Specialized Products trade sales decreased 19% in Q1 2026.
- Furniture, Flooring & Textile Products trade sales decreased 7% in Q1 2026.