Revenue: As of FY2025, the actual value is USD 4.055 B, missing the estimate of USD 4.055 B.EPS: As of FY2025, the actual value is USD 1.69, beating the estimate of USD 1.6.EBIT: As of FY2025, the actual value is USD 356 M.<h4>Segment Revenue (Trade Sales)</h4><ul><li>Consolidated Trade Sales<ul><li>2025: $4,055.1 million </li><li>2024: $4,383.6 million </li><li>2023: $4,725.3 million </li></ul></li><li>Bedding Products Segment<ul><li>2025 Trade Sales: $1,558.4 million, representing an 11% decrease from 2024, with divestitures reducing sales by 1% and organic sales decreasing by 10%. Volume declines of 12% were partially offset by raw material-related selling price increases and a currency benefit of 2%. </li><li>2024 Trade Sales: $1,751.7 million, an 11% decrease from 2023, with organic sales down 11% due to 6% volume declines and 5% raw material-related selling price decreases. </li><li>2023 Trade Sales: $1,964.7 million. </li></ul></li><li>Specialized Products Segment<ul><li>2025 Trade Sales: $1,122.4 million, a 9% decrease from 2024, with the divestiture of the Aerospace Products Group reducing sales by 5% and organic sales decreasing by 4%. Volume decreased by 5%, partially offset by raw material-related selling price increases and a currency benefit of 1%. </li><li>2024 Trade Sales: $1,239.1 million, a 3% decrease from 2023, with organic sales decreasing 3% due to a 3% volume decrease, and raw material-related price increases offset by currency impact. </li><li>2023 Trade Sales: $1,279.8 million. </li></ul></li><li>Furniture, Flooring &amp; Textile Products Segment<ul><li>2025 Trade Sales: $1,374.3 million, a 1% decrease from 2024, with the divestiture of a small Work Furniture operation reducing sales by less than 1% and organic sales decreasing by 1%. Volume was flat, while raw material-related selling price decreases, net of currency benefit, reduced sales by 1%. </li><li>2024 Trade Sales: $1,392.8 million, a 6% decrease from 2023, with organic sales decreasing 6% due to a 3% volume decrease and 3% raw material-related selling price decreases. </li><li>2023 Trade Sales: $1,480.8 million. </li></ul></li></ul><h4>Operational Metrics</h4><ul><li>Consolidated Earnings Before Interest and Taxes (EBIT)<ul><li>2025: $356.0 million, an increase of 182.8% from 2024, with an EBIT margin of 8.8%. </li><li>2024: - $429.9 million, a decrease of 375.6% from 2023, with an EBIT margin of -9.8%. </li><li>2023: - $90.4 million, with an EBIT margin of -1.9%. </li></ul></li><li>Bedding Products Segment EBIT<ul><li>2025: $98.7 million, with an EBIT margin of 6.3%. </li><li>2024: - $549.0 million, with an EBIT margin of -31.3%. </li><li>2023: - $344.2 million, with an EBIT margin of -17.5%. </li><li>Significant items impacting 2025 EBIT included a net gain from insurance proceeds of - $35 million and a gain on sale of real estate of - $22 million, compared to 2024. </li><li>Significant items impacting 2024 EBIT included goodwill impairment of $588 million and restructuring charges of $37 million, compared to 2023, which had a long-lived asset impairment of $444 million. </li></ul></li><li>Specialized Products Segment EBIT<ul><li>2025: $204.3 million, with an EBIT margin of 18.2%. </li><li>2024: $64.4 million, with an EBIT margin of 5.2%. </li><li>2023: $125.0 million, with an EBIT margin of 9.8%. </li><li>Significant items impacting 2025 EBIT included a gain on sale of Aerospace Products Group of - $91 million and a gain on sale of real estate of - $2 million. </li><li>Significant items impacting 2024 EBIT included goodwill impairment of $44 million and restructuring charges of $10 million. </li></ul></li><li>Furniture, Flooring &amp; Textile Products Segment EBIT<ul><li>2025: $78.6 million, with an EBIT margin of 5.7%. </li><li>2024: $58.2 million, with an EBIT margin of 4.2%. </li><li>2023: $128.6 million, with an EBIT margin of 8.7%. </li><li>Significant items impacting 2025 EBIT included a gain on sale of real estate of - $6 million. </li><li>Significant items impacting 2024 EBIT included a net gain from insurance proceeds of - $2 million and goodwill impairment of $44 million. </li></ul></li><li>Depreciation and Amortization<ul><li>2025 Total: $122.4 million (Bedding Products: $55.1 million, Specialized Products: $34.7 million, Furniture, Flooring &amp; Textile Products: $18.3 million, Unallocated: $14.3 million). </li><li>2024 Total: $136.0 million (Bedding Products: $59.0 million, Specialized Products: $43.0 million, Furniture, Flooring &amp; Textile Products: $21.7 million, Unallocated: $12.3 million). </li><li>2023 Total: $179.9 million (Bedding Products: $103.9 million, Specialized Products: $41.1 million, Furniture, Flooring &amp; Textile Products: $22.5 million, Unallocated: $12.4 million). </li></ul></li></ul><h4>Cash Flow</h4><ul><li>Cash from Operations<ul><li>2025: $338.2 million, an increase from $305.7 million in 2024, primarily due to working capital improvements. </li><li>2024: $305.7 million, a decrease from $497.2 million in 2023, primarily from lower earnings and less benefit from working capital. </li><li>2023: $497.2 million. </li></ul></li><li>Working Capital Metrics<ul><li>Adjusted Working Capital as a Percent of Annualized Sales: 11.6% in 2025, 13.0% in 2024. </li><li>Trade Receivables: $433.7 million in 2025, $503.0 million in 2024, $564.9 million in 2023. <ul><li>Days Sales Outstanding (DSO): 42 days in 2025, 44 days in 2024, 45 days in 2023. </li></ul></li><li>Inventories: $622.6 million in 2025, $722.6 million in 2024, $819.7 million in 2023. <ul><li>Days Inventory on Hand (DIO): 74 days in 2025, 77 days in 2024, 81 days in 2023. </li></ul></li><li>Accounts Payable: $466.6 million in 2025, $497.7 million in 2024, $536.2 million in 2023. <ul><li>Days Payables Outstanding (DPO): 53 days in 2025, 52 days in 2024, 50 days in 2023. </li></ul></li></ul></li></ul><h4>Unique Financial Indicators</h4><ul><li>Total Debt<ul><li>2025: $1,497.7 million. </li><li>2024: $1,864.1 million. </li><li>2023: $1,988.0 million. </li></ul></li><li>Restructuring and Impairment Charges (Pretax)<ul><li>Total Restructuring and restructuring-related costs (cash &amp; non-cash): $30 million in 2025, $48 million in 2024, with a total of $78 million incurred since inception against a total plan estimate of approximately $80 million. </li><li>Goodwill Impairment: $0 in 2025, $676 million in 2024, and $0 in 2023, with 2024 impairments including $587 million in Bedding, $44 million in Work Furniture, and $44 million in Hydraulic Cylinders. </li><li>Long-lived Asset Impairment: $19 million in 2025, $6.3 million in 2024, and $443.7 million in 2023, with 2025 charges primarily related to lease impairments from the 2024 Plan and 2023 impairment mainly in the Bedding Products segment. </li></ul></li><li>Gain on Sale of Assets/Businesses (Pretax)<ul><li>Aerospace Products Group: - $91 million gain in 2025, yielding net cash proceeds of $280 million. </li><li>Net gain from insurance proceeds: - $35 million in 2025, - $2 million in 2024, - $9 million in 2023. </li><li>Gain on sale of real estate: - $29 million in 2025, - $31 million in 2024, - $11 million in 2023. </li></ul></li><li>Other Specific Costs<ul><li>Pension settlement (non-cash): $22 million in 2025, $0.7 million in 2024. </li><li>Somnigroup unsolicited offer evaluation costs: $3 million in 2025. </li><li>Bad Debt Expense: $7 million in 2025, $6 million in 2024, with a benefit of $7 million in 2023. </li><li>Inventory Write-downs: $13 million in 2025, $36 million in 2024, $9 million in 2023. </li></ul></li><li>Capital Expenditures<ul><li>2025: $57.2 million. </li><li>2024: $81.6 million. </li><li>2023: $113.8 million. </li></ul></li></ul><h4>Outlook / Guidance</h4>Leggett &amp; Platt, Incorporated anticipates 2026 overall demand to be flat or modestly lower due to macroeconomic uncertainties. Capital expenditures are projected to be $100 million to $115 million in 2026, driven by maintenance, growth, delayed projects, and equipment replacement. The company expects lower net interest expense, minimal share dilution from repurchases offsetting issuances, and continued dividend payments at a comparable or higher quarterly rate.

Leggett & Platt | 10-K: FY2025 Revenue Misses Estimate at USD 4.055 B