secwatch.observer — SEC 8-K summary
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Issuer:     LEGGETT & PLATT INC (LEG)
CIK:        0000058492
Form:       8-K
Filed at:   2022-10-11T23:59:59+00:00
Accession:  0001193125-22-260103
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Leggett & Platt lowers FY2022 guidance; cuts EPS view to $2.30-2.45, sales to $5.1-5.2B
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- Sales guidance lowered to $5.1-5.2B from $5.2-5.4B; EPS down to $2.30-2.45 from $2.65-2.80.
- EBIT margin now 9.5%-10.0% (prior 10.5%-10.7%); cash from ops $400-450M (prior $550-600M).
- Guidance cut driven by lower volume, reduced production, slower Auto cost recovery, Specialty Foam inefficiencies.
- Acquired hydraulic cylinders business (~$65M 2021 sales) and two textiles businesses each <$10M.
- CEO cites challenging global economy and consumer backdrop; actions to align costs and production.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/58492/000119312522260103/0001193125-22-260103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/58492/000119312522260103/d325243d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-260103

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer