Leggett & Platt Q3 sales down 6% to $1.1B; lowers FY2024 adjusted EPS guidance to $1.00-$1.10

LEGGETT & PLATT INC

2024-Q3 EPS reported -$3.83 revenue$3,327,200,000

Q3 sales $1.1B (-6% YoY); adjusted EPS $0.32 (down from $0.36 in Q3 2023).
FY2024 guidance lowered: sales $4.3-$4.4B, adjusted EPS $1.00-$1.10 (prior $1.10-$1.25).
GAAP EPS guidance includes $4.61/sh goodwill impairment; Q3 restructuring charges $12M.
Exploring potential sale of Aerospace business as part of portfolio simplification.
Paid down $124M debt in Q3; net debt/EBITDA 3.78x; quarterly dividend cut to $0.05/sh.

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