Leggett & Platt Reports Record 1Q EBIT And EPS; Increases 2Q Dividend
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1Q sales increased 10% vs 1Q20, to $1.151 billion
1Q EPS was a first quarter record $.64, an increase of $.31 vs 1Q20 and an increase of $.24 vs adjusted
1 EPS in 1Q20
Increased 2021 guidance: sales of $4.8–$5.0 billion and EPS of $2.55–$2.75
Changed methodology for valuing domestic steel-related inventory from LIFO to FIFO
Diversified manufacturer Leggett & Platt reported
first quarter 2021 sales of $1.151 billion, a 10% increase versus first quarter last year.
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Volume was up 4%; strong demand in residential end markets and Automotive was partially offset by weakness in Aerospace
º Raw material-related selling price increases of 5% and currency benefit of 2% added to sales
1Q sales increased 10% vs 1Q20, to $1.151 billion
1Q EPS was a first quarter record $.64, an increase of $.31 vs 1Q20 and an increase of $.24 vs adjusted
1 EPS in 1Q20
Increased 2021 guidance: sales of $4.8–$5.0 billion and EPS of $2.55–$2.75
Changed methodology for valuing domestic steel-related inventory from LIFO to FIFO
Diversified manufacturer Leggett & Platt reported
first quarter 2021 sales of $1.151 billion, a 10% increase versus first quarter last year.
Organic sales were up 11%
Volume was up 4%; strong demand in residential end markets and Automotive was partially offset by weakness in Aerospace
Raw material-related selling price increases of 5% and currency benefit of 2% added to sales growth
Leggett & Platt Reports 4Q And Full Year 2020 Results And Announces 1Q Dividend
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4Q sales grew 3% vs 4Q19, to $1.182 billion
4Q EPS was a fourth quarter record $.76, an increase of $.12 vs 4Q19
2020 sales decreased 10% vs 2019, to $4.28 billion
2020 EPS was $1.82 and 2020 adjusted
1 EPS was $2.13, decreases vs 2019
2020 cash flow from operations was $603 million
Board of Directors declared first quarter dividend of $.40 per share
2021 guidance: sales of $4.6–$4.9 billion and EPS of $2.30–$2.60
Chairman and CEO Karl Glassman commented, We are pleased to have delivered a strong fourth quarter to end a very challenging 2020. Fourth quarter sales, EBIT, EBIT margin, and earnings per share increased versus the fourth quarter of 2019. For the full year, we generated strong operating cash flow, reduced debt levels, maintained significant liquidity, and increased the dividend for the 49