Leggett & Platt reports Q4 loss of $2.18 EPS, $444M impairment; guides 2024 adj EPS $1.05-1.35

LEGGETT & PLATT INC

2023-FY EPS reported -$1.00 revenue$4,725,300,000

Q4 sales $1.1B (-7% YoY), GAAP EPS loss of $2.18 vs $0.39 prior; adjusted EPS $0.26, down $0.13.
Full year 2023 EPS loss of $1.00 vs $2.27 prior; adjusted EPS $1.39, down $0.88; operating cash flow $497M.
Recorded $444M non-cash impairment in Bedding Products segment tied to prior-year acquisitions.
Restructuring plan targets $40-50M annual EBIT benefit by late 2025; $20-25M costs in H1 2024.
2024 guidance: sales $4.35-4.65B, adjusted EPS $1.05-1.35, reflecting prolonged residential softness.

item 2.02 item 7.01 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

LEGGETT & PLATT INC reported financial results for fourth quarter and year ending December 31, 2023.

Period: fourth quarter and year ending December 31, 2023
Result: reported results

Exact text from the filing

On February 8, 2024, Leggett & Platt, Incorporated issued a press release announcing its financial results for the fourth quarter and year ending December 31, 2023 and related matters.

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Source: SEC EDGAR

accession 0001193125-24-028450

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