Leggett & Platt Q2 sales fall 6% on weak demand

Leggett & Platt, Incorporated

06/08/2026 11:45

Overview
U.S. engineered components maker's Q2 sales fell 6% but beat analyst expectations
Q2 adjusted EPS rose year-over-year and beat analyst expectations
Company says cost management and non-recurring items aided adjusted earnings

Outlook
Company withdrew 2026 guidance due to pending acquisition by Somnigroup
Leggett & Platt expects ongoing macroeconomic headwinds to temper consumer demand for the rest of 2026

Result Drivers
WEAK DEMAND - Co said volume declined due to continued weak demand across most end markets, retailer merchandising changes in Adjustable Bed, and the decision to exit a financially challenged customer in U.S. Spring
NON-RECURRING BENEFITS - Adjusted earnings benefited from favorable items, including metal margin expansion and restructuring, most of which are not expected to repeat in future quarters
RAW MATERIAL PRICING - Raw material-related selling price increases and currency benefit added to sales, partially offsetting volume declines

Company press release: ID:nPn5GLt3Ma

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Beat
$1 bln
$982.86 mln (4 Analysts)
Q2 Adjusted EPS
Beat
$0.39
$0.26 (4 Analysts)
Q2 EPS
 
$0.33
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the home furnishings peer group is "hold"
Wall Street's median 12-month price target for Leggett & Platt, Incorporated is $11.50, about 12.2% above its August 5 closing price of $10.25
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

Reuters Recommended Reads
Aug 5 - Regal Rexnord Q2 adjusted EPS beats on tariff refund benefit
Aug 4 - Timken Q2 sales beat on higher volumes and pricing
Aug 4 - WW Grainger raises profit forecast as maintenance demand remains strong

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)