LEGGETT & PLATT INC reported the first quarter ending March 31, 2026 results: revenue $918 million, EPS $.14.
“1Q sales of $918 million, a 10% decrease vs 1Q25, including a 5% decrease from divestitures • 1Q EPS of $.14, 1Q adjusted 1 EPS of $.15, a $.09 decrease vs adjusted 1 1Q25 EPS • Withdrawing previously issued 2026 guidance due to the pending acquisition by Somnigroup International”
Material Agreements
LEGGETT & PLATT INC entered into Agreement and Plan of Merger with Somnigroup International Inc. and Sparrow Unity Corporation (effective 2026-04-13).
“On April 13, 2026, Somnigroup International Inc., a Delaware corporation (“ Parent ”), and Leggett & Platt, Incorporated, a Missouri corporation (the “ Company ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”), by and among Parent, Sparrow Unity Corporation, a Missouri corporation and a direct, wholly owned subsidiary of Parent (“ Merger Sub ” and together with Parent, the “ Parent Parties ”), and the Company”
Debt Financings
LEGGETT & PLATT INC amended revolving credit of $1.0 billion with JPMorgan Chase Bank, N.A. at various pre-defined spreads maturing July 24, 2030.
“Revolving Commitments Decreased . The aggregate amount of the Lender’s commitments to make Loans under the senior unsecured Revolving Facility was decreased from $1.2 billion to $1.0 billion. (2) Maturity Date Extended . The maturity date under the Credit Agreement was extended from September 30, 2026 to July 24, 2030. (3) Decrease in Accordion Feature . The”
Manuel A. Fernandez departed as Director at LEGGETT & PLATT INC.
“On February 25, 2025, Mark A. Blinn and Manuel A. Fernandez each notified the Company of their respective decisions to retire as a director of the Company effective immediately prior to the beginning of the 2025 annual shareholder meeting, which currently is expected to be held on May 7, 2025.”
Mark A. Blinn departed as Director at LEGGETT & PLATT INC.
“On February 25, 2025, Mark A. Blinn and Manuel A. Fernandez each notified the Company of their respective decisions to retire as a director of the Company effective immediately prior to the beginning of the 2025 annual shareholder meeting, which currently is expected to be held on May 7, 2025.”
R. Samuel Smith, Jr. was appointed as President of the Specialized Products segment at LEGGETT & PLATT INC.
“On this same date, the Company appointed R. Samuel Smith, Jr. to serve as President of the Specialized Products segment.”
Karl G. Glassman changed role as acting, temporary segment manager of the Specialized Products segment at LEGGETT & PLATT INC.
“On February 13, 2025, Karl G. Glassman, the Company’s President and Chief Executive Officer, ceased serving as the acting, temporary segment manager of the Company’s Specialized Products segment.”
Karl G. Glassman was appointed as President and Chief Executive Officer at LEGGETT & PLATT INC.
“On May 20, 2024, the Company’s Board of Directors appointed Karl G. Glassman, age 65, as President and Chief Executive Officer, effective immediately”
J. Mitchell Dolloff resigned as President and Chief Executive Officer at LEGGETT & PLATT INC.
“the position created by the resignation of J. Mitchell Dolloff from such position”
Shareholder Votes
LEGGETT & PLATT INC shareholders approved Approval of the amendment and restatement of the Flexible Stock Plan at the 2024-05-08 meeting.
“The amendment and restatement of the Company’s Flexible Stock Plan was approved with the following vote: FOR AGAINST ABSTAIN BROKER NON-VOTE 87,582,967 3,356,910 743,692 22,649,737”
Shareholder Votes
LEGGETT & PLATT INC shareholders approved Advisory vote to approve named executive officer compensation (Say-on-Pay) at the 2024-05-08 meeting.
“The advisory vote to approve the Company’s named executive officer compensation package as described in the “Executive Compensation and Related Matters” section of the Company’s Proxy Statement (commonly known as “Say-on-Pay”) was approved with the following vote: FOR AGAINST ABSTAIN BROKER NON-VOTE 86,034,751 5,325,496 323,322 22,649,737”
Shareholder Votes
LEGGETT & PLATT INC shareholders approved Ratification of Independent Registered Public Accounting Firm at the 2024-05-08 meeting.
“The ratification of the Audit Committee’s selection of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024, was approved with the following vote: FOR AGAINST ABSTAIN BROKER NON-VOTE 111,954,520 2,109,436 269,350 N/A”
Shareholder Votes
LEGGETT & PLATT INC shareholders approved Election of eleven directors at the 2024-05-08 meeting.
“All eleven nominees for director listed in the Proxy Statement were elected to hold office until the 2025 Annual Meeting of Shareholders, or until their successors are elected and qualified, with the following vote:”
Earnings Releases
LEGGETT & PLATT INC reported first quarter ending March 31, 2024 results: revenue $1.1 billion, EPS $.23. Guidance reaffirmed.
“APRIL 30, 2024 LEGGETT & PLATT REPORTS 1Q RESULTS, ANNOUNCES 2Q DIVIDEND OF $.05 AND UPDATES CAPITAL ALLOCATION PRIORITIES Carthage, MO, April 30, 2024 --- · 1Q sales of $1.1 billion, a 10% decrease vs 1Q23 · 1Q EPS and adjusted 1 EPS of $.23, a decrease of $.16 vs 1Q23 · Board declared second quarter dividend of $.05 per share · Company updated capital”
Material Agreements
LEGGETT & PLATT INC amended Amendment Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the Lenders party thereto (effective 2024-03-22).
“On March 22, 2024, Leggett & Platt, Incorporated (the “ Company ,” “ us ,” or “ we ”) entered into an Amendment Agreement relating to the Fourth Amended and Restated Credit Agreement dated as of September 30, 2021, as amended December 16, 2022 (the “ Credit Agreement ”), among us, JPMorgan Chase Bank, N.A., as administrative agent (“ JPMorgan ”), and the Lenders party thereto (the “ Amendment Agreement ”).”
J. Mitchell Dolloff changed role as President and Chief Executive Officer at LEGGETT & PLATT INC.
“J. Mitchell Dolloff, the Company’s President and Chief Executive Officer will oversee the Specialized Products segment on an interim basis, beginning April 2, 2024.”
R. Samuel Smith, Jr. was appointed as Senior Vice President, President – Furniture, Flooring & Textile Products at LEGGETT & PLATT INC.
“R. Samuel Smith, Jr., age 56, will succeed Mr. Henderson as Senior Vice President, President – Furniture, Flooring & Textile Products, effective April 2, 2024.”
Steven K. Henderson retired as Executive Vice President, President – Specialized Products and Furniture, Flooring & Textile Products at LEGGETT & PLATT INC.
“On February 26, 2024, Steven K. Henderson, the Company’s Executive Vice President, President – Specialized Products and Furniture, Flooring & Textile Products, notified the Company of his decision to retire from the Company, effective April 1, 2024.”
Earnings Releases
LEGGETT & PLATT INC reported financial results for fourth quarter and year ending December 31, 2023.
“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.”
Earnings Releases
LEGGETT & PLATT INC reported preliminary financial results for the completed fourth quarter and year-end 2023.
“The Company is not otherwise updating guidance for, or reporting upon, its 2023 year-end financial results. These financial results will be released on February 8, 2024.”
Restructurings & Charges
LEGGETT & PLATT INC announced a impairment with charges of approximately $450 million affecting Bedding Products segment.
“we concluded, on January 12, 2024 that the Company will record an estimated pre-tax impairment charge of approximately $450 million related to long-lived assets (primarily the intangibles).”
Restructurings & Charges
LEGGETT & PLATT INC announced a restructuring with charges of $65 to $85 million affecting Bedding Products segment (900 to 1,100).
“Plan. These transactions are expected to be largely complete by the end of 2025. In aggregate, we expect to incur restructuring and restructuring-related costs between $65 and $85 million, of which approximately half are anticipated to be incurred in 2024 and the remainder in 2025. This includes $30 to $40 million in cash costs, the majority of”
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