Leggett & Platt is a diversified manufacturer that specializes in producing a wide range of engineered components and products for various industries, notably in the furniture, automotive, and bedding sectors
The company designs and manufactures items such as mattresses, adjustable beds, and a variety of mechanical and electronic components that enhance comfort and functionality. With a focus on innovation and quality, Leggett & Platt serves original equipment manufacturers and retailers, aiming to improve everyday living through its diverse product offerings and solutions.
Looking back on home furnishings stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Leggett & Platt (NYSELEG) and its peers.
Over the past six months, Leggett & Platt’s shares (currently trading at $9.55) have posted a disappointing 15.1% loss, well below the S&P 500’s 4.7% gain. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
Leggett & Platt has been treading water for the past six months, recording a small loss of 3% while holding steady at $11.28. The stock also fell short of the S&P 500’s 11.1% gain during that period.
Shares of manufacturing company Leggett & Platt (NYSELEG)
jumped 8% in the morning session after the company reported third-quarter earnings and provided revenue guidance for the next quarter, which blew past analysts' expectations. On the other hand, its EPS forecast for the next quarter missed. Overall, this was a mixed yet decent quarter.
Manufacturing company Leggett & Platt (NYSELEG) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 6.3% year on year to $1.10 billion. The company expects next quarter’s revenue to be around $1.02 trillion, slightly above analysts’ estimates. Its non-GAAP profit of $0.32 per share was 2.3% below analysts’ consensus estimates.
3M Company cut its dividend because of legal settlements, the divestment of the Healthcare segment into an independent company, Solventum, and the need to maintain financial flexibility. It is the third Dividend King to do so in 2024.
Future retirees who have been building an income stream with dividend growth stocks have continued to do well. Because retirement is in the future, this activity is based on estimations of future spending, dividend income, retirement plans, and more.
Telephone and Data Systems cut its dividend because of a need to grow its fiber business, too much leverage, and changing strategic priorities. It is one of three Dividend Kings to do so thus far in 2024.
Recent data showed that the stock market witnessed a relatively poor week. However, small-cap stocks did well, with the Russell 2000 Index finishing with a very meager positive return. The remaining indexes had negative returns.
