Leggett & Platt, a diversified manufacturer based in Carthage, Missouri, announced its third-quarter sales for 2025 reached $1.0 billion, marking a 6% decrease compared to the same quarter in 2024. The company’s earnings per share (EPS) stood at $0.91, reflecting a significant increase from $0.33 in the previous year but an adjusted EPS of $0.29 represented a decline of $0.03 from the prior year’s adjusted figure.
The results, released on October 27, 2025, revealed that operating cash flow improved to $126 million, an increase of $30 million year-over-year. This positive cash flow contributed to a strengthened balance sheet, with Leggett & Platt successfully reducing its debt by $296 million through proceeds from the divestiture of its Aerospace business and operational cash flow.
Strategic Focus and Future Outlook
President and CEO Karl Glassman expressed satisfaction with the quarterly performance, stating, “We are pleased to report solid results for the quarter, achieved amid ongoing macroeconomic challenges.” He highlighted the successful sale of the Aerospace business, which allows the company to concentrate more on its core operations. Glassman asserted that the resilience demonstrated by the business reinforces their confidence in meeting the midpoint of their full-year sales and adjusted EPS guidance.
For 2025, Leggett & Platt has narrowed its sales guidance range to $4.0 billion to $4.1 billion, projecting a decline of 6% to 9% compared to 2024. The anticipated volume decline is expected to be in the mid to high single digits across various segments, influenced primarily by reduced demand in residential markets as well as automotive and hydraulic cylinders.
Quarterly Financial Highlights
The third-quarter financial results indicated that net trade sales decreased by 6%, with organic sales down 4%. The volume decline of 6% was largely attributed to ongoing weak demand in key markets but was partially offset by growth in textiles and work furniture. The overall EBIT (earnings before interest and taxes) rose to $171 million, a dramatic increase from $77 million in the same quarter of 2024.
Adjusted EBIT, which excludes specific adjustments, decreased to $73 million from $76 million a year prior. Adjustments in the quarter included $4 million in restructuring charges and an $87 million gain from the Aerospace divestiture. The EBIT margin for the quarter was reported at 16.5%, an increase from 7.1% in the previous year.
Looking at the segment performance, trade sales in Bedding Products fell 10%, primarily due to customer weakness and retailer merchandise changes. Specialized Products saw a 7% decrease, largely from declines in automotive and hydraulic cylinders, while Furniture, Flooring & Textile Products reported stable sales.
Leggett & Platt’s financial strategy remains focused on generating robust cash flow, enhancing its balance sheet, and delivering long-term value to shareholders, with total liquidity reported at $974 million as of September 30, 2025. The company continues to navigate the complexities of the current economic landscape while aiming for profitable growth.
