Leggett & Platt's Q1 profits fall 35%

Carthage-based manufacturer Leggett & Platt Inc. (NYSE: LEG) reported a roughly 35% drop in profits during the first quarter.

Net income was $20 million, down from $30.6 million in the same quarter a year earlier, according to a news release. Diluted share earnings were 14 cents, compared with 22 cents in first-quarter 2025.

Top-line trade sales decreased by 10% to $918.2 million from approximately $1 billion year over year.

Leggett & Platt President and CEO Karl Glassman said in the release that "first-quarter results reflected lower market demand across most of our businesses compared to the prior year, particularly in residential end markets."

He added, "In addition to weak demand, our teams navigated a dynamic global environment related to the war in Iran, which drove higher transportation costs and increased transit times late in the quarter, as well as higher chemical prices that will begin to impact our costs in the second quarter."

Last month, Leggett & Platt announced it would be acquired by Dallas, Texas-based bedding company Somnigroup International Inc. (NYSE: SGI). 

As of March 31, Leggett & Platt's assets were $3.5 billion, according to the release.

LEG shares were trading at $10.20 as of 8:44 a.m., compared with a 52-week range of $7.86 to $13 per share.