secwatch.observer — SEC 8-K summary
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Issuer:     LEGGETT & PLATT INC (LEG)
CIK:        0000058492
Form:       8-K
Filed at:   2024-02-08T23:59:59+00:00
Accession:  0001193125-24-028450
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/58492/000119312524028450/0001193125-24-028450-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/58492/000119312524028450/d644172d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-028450

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