Leggett & Platt swings to the black in quarterly profits

Leggett & Platt Inc. (NYSE: LEG) was in the black on its bottom line in the second quarter after reporting a substantial net loss in the same three-month period last year.

The Carthage-based manufacturer reported $52.5 million in profits during the second quarter, which compares with a $602.2 million loss a year earlier, according to a news release.

While top-line trade sales were down 6% to nearly $1.1 billion, the results this quarter did not include a nine-figure expense that was recorded in second-quarter 2024.

"We are pleased to report another quarter of profitability improvement. We further strengthened our balance sheet by reducing debt and favorably amending our revolving credit facility," Leggett & Platt President and CEO Karl Glassman said in the release. "In the face of ongoing macroeconomic headwinds and uncertainty surrounding global trade policy, we remain confident in the strength and resilience of our business."

As of June 30, Leggett & Platt's assets were $3.7 billion.

LEG shares were trading at $8.56 as of 10:24 a.m., compared with a 52-week range of $6.48 to $14.24 per share.