The company also discloses changes to management and a new $15 billion share repurchase authorization. Read More...
Benzinga
Leggett & Platt Cuts FY22 Guidance Citing Macroeconomic Uncertainties
Leggett & Platt Inc (NYSE: LEG) reported second-quarter FY22 sales growth of 5% year-on-year to $1.33 billion, in line with the consensus. Organic sales rose 5%. Trade sales from Bedding products rose 1% Y/Y to $612.5 million, Specialized Products increased 8% to $260.1 million, and Furniture, Flooring & Textile Products rose 10% to $461.6 million. Gross profit for the quarter was $268.4 million, with a profit margin of 20.1%. The company held $269.9 million in cash and equivalents as of June 30
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