Leggett & Platt earnings jump 232%

Carthage-based manufacturer Leggett & Platt Inc. (NYSE: LEG) bolstered its 2015 bottom line by 232 percent to $325.1 million, up from $98 million in 2014.

Diluted share earnings for the year came to $2.28, an increase of $1.60 per share from 68 cents the previous year, according to a news release from the manufacturer of engineered components and products for homes, offices and vehicles.

“Annual (earnings per share) exceeded $2 for the first time,” Leggett & Platt President and CEO Karl Glassman said in the release. “Our markets improved during the year, and we achieved better-than-market growth in several lines of business.”

2015 financial notes:
    •    Net sales rose roughly 4 percent to $3.9 billion from $3.8 billion in 2014.
    •    Fourth-quarter earnings jumped over 290 percent to $80.5 million from $20.6 million.
    •    The company paid $82 million in 2015 litigation, related to a 2014 settlement over an alleged price-fixing conspiracy to alter the price of polyurethane foam.

As of Dec. 31, Leggett & Platt held assets of $3 billion. The company operates 17 business units, 130 manufacturing facilities in 19 countries and employs 20,000, according to the release.

LEG shares were trading at $40.69 as of 11:18 a.m., compared to a 52-week range of $36.64 to $51.28.