Leggett & Platt overcomes Q4 dip to end year ahead

Leggett & Platt Inc. (NYSE: LEG) announced a gain in 2021 profits despite a decrease in the fourth quarter.

For the year, the Carthage-based manufacturer posted earnings of $402.4 million, a 59% increase from $253 million in 2020, according to a news release. Fourth-quarter profits were down 2% to $105.5 million.

"Leggett remains well positioned, both competitively and financially, to capitalize on long-term opportunities in our various end markets," President and CEO Mitch Dolloff said in the release.

Dolloff took on the CEO position on Jan. 1 after the retirement late last year of Karl Glassman, who led the company for five years, according to past reporting.

During 2021, Leggett & Platt's total sales rose 19% to $5.1 billion, according to the release.

Leggett & Platt's assets were $5.3 billion as of Dec. 31. The company, which manufactures engineered components and products for homes, offices and vehicles, has 20,000 employees and more than 130 manufacturing facilities in 18 countries.

LEG shares were trading at $39.09 as of 10:19 a.m., compared with a 52-week range of $37.04 to $59.16 per share.