Leggett & Platt profits fall during second quarter

The following news release was issued Thursday by Leggett & Platt:

Carthage, MO, August 6, 2026 —

-2Q sales of $1.0 billion, a 6% decrease vs 2Q25, including a 5% decrease from divestitures

-2Q EPS of $.33, 2Q adjusted1 EPS of $.39, a $.09 increase vs adjusted1 2Q25 EPS 

President and CEO Karl Glassman commented, “We are pleased with how our teams managed through a challenging environment in the second quarter. Our employees remained focused on disciplined execution and cost management which, along with favorable items that we do not expect to repeat in future quarters, contributed to improved adjusted earnings.

“Bedding industry conditions remain challenged both by sluggish consumer activity and continued consolidations and bankruptcies across the value chain. We estimate that U.S. mattress market units declined by low double digits in the second quarter, similar to the declines we saw in the first quarter. In our Bedding Products segment, continued strong performance of our trade rod and wire business partially offset the decline from lower mattress demand.

“Across our other segments, demand remained soft in markets tied to housing and broader consumer spending as consumers were faced with additional uncertainty resulting from the war in the Middle East and higher gas prices. In Specialized Products, Automotive performed slightly below the market, which saw lower consumer demand across all regions. In Furniture, Flooring & Textile Products, growth in Textiles offset lower demand in the remaining businesses, which are more directly exposed to U.S. residential spending, leading to a slight improvement in trade sales.

“As we look forward, we remain focused on executing our strategic priorities while expecting ongoing macroeconomic headwinds to temper consumer demand across most of our businesses for the remainder of the year.

“Finally, we continue to progress towards the planned merger with Somnigroup. As previously announced, the waiting period under the HSR Antitrust Improvements Act expired in June. We anticipate the transaction to close upon satisfaction of the remaining closing conditions, including Leggett & Platt shareholder approval at the special meeting planned for August 20th and the remaining required regulatory approvals. As previously stated, we believe this combination with a valued long–standing customer will create a leading global company—providing compelling strategic and financial value for our customers, employees, and the Leggett & Platt shareholders.”

SECOND QUARTER RESULTS

Second quarter sales were $1.0 billion, a 6% decrease versus second quarter last year

2025 divestitures decreased sales 5%

Organic sales2 were down 1%

Volume was down 4%, primarily from continued weak demand across most of our end markets, retailer merchandising changes in Adjustable Bed, and the decision during the fourth quarter of 2025 to walk away from a financially challenged customer in U.S. Spring 

Raw material-related selling price increases added 2% to sales

Currency benefit increased sales 1% 

Second quarter EBIT was $80 million, down from $90 million in second quarter 2025. Adjusted1 EBIT was $89 million, up from second quarter 2025 adjusted1 EBIT of $76 million.

Adjusted1 EBIT increased primarily from metal margin expansion, restructuring benefit, and other favorable items, most of which are not expected to repeat in future quarters. EBIT margin was 8.0%, down from 8.5% in the second quarter of 2025, and adjusted1 EBIT margin was 8.9%, up from 7.1%.

Second quarter EPS was $.33, a $.05 decrease versus second quarter 2025 EPS of $.38. Second quarter adjusted1 EPS was $.39, up $.09 versus second quarter 2025 adjusted1 EPS of $.30.

Complete news release