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Leggett & Platt

LEG Q1 2026 Earnings

Reported May 7, 2026 at 6:41 AM ET · SEC Source

Q1 26 EPS

$0.15

MISS 38.14%

Est. $0.24

Q1 26 Revenue

$918.2M

MISS 3.02%

Est. $946.8M

vs S&P Since Q1 26

+8.9%

BEATING MARKET

LEG +8.6% vs S&P -0.4%

Market Reaction

Did LEG Beat Earnings? Q1 2026 Results

Leggett & Platt delivered a deeply disappointing first quarter of 2026, missing on both the top and bottom lines as broad demand weakness and the strategic upheaval of a pending acquisition clouded the results. Adjusted EPS came in at $0.15, falling … Read more Leggett & Platt delivered a deeply disappointing first quarter of 2026, missing on both the top and bottom lines as broad demand weakness and the strategic upheaval of a pending acquisition clouded the results. Adjusted EPS came in at $0.15, falling 38.14% short of the $0.24 consensus estimate, while revenue of $918.20 million trailed expectations by 3.02% and declined 10.2% year-over-year, undercut by a sharp 9% volume drop across most end markets. The most consequential drag was a severe pullback in residential bedding, where the U.S. Mattress market is believed to have contracted by high single to low double digits, pressured by weak consumer sentiment, weather disruptions, and economic uncertainty tied to the war in Iran. Compounding the operational headwinds, the Furniture, Flooring and Textile Products segment saw adjusted EBIT collapse roughly 79% on currency pressures and startup costs. Meanwhile, Leggett withdrew its full-year 2026 guidance following its April merger agreement with Somnigroup International, leaving investors with little forward visibility as Truist Financial subsequently trimmed its price target to $11.00, maintaining a hold rating.

Key Takeaways

  • • Restructuring actions implemented over past two years continued to deliver EBIT benefits
  • • Metal margin expansion in trade rod benefited Bedding Products adjusted EBIT
  • • Volume down 9% from continued weak demand across most end markets
  • • Retailer merchandising changes in Adjustable Bed negatively impacted volume
  • • U.S. mattress market estimated to have declined high single to low double digits
  • • Margin compression in Flooring business from higher costs and pricing pressure
  • • Higher stock-based compensation expense and increased bad debt reserves related to Bedding customers
  • • Loss of Aerospace business earnings following 2025 divestiture
  • • Higher transportation costs and increased transit times from war in Iran
  • • Start-up costs for new Home Furniture facility in Vietnam

LEG Forward Guidance & Outlook

Leggett & Platt withdrew its previously issued 2026 guidance due to the pending acquisition by Somnigroup International Inc. The company noted that the prior guidance should no longer be relied upon. The transaction with Somnigroup is anticipated to close by year-end 2026, subject to customary closing conditions including shareholder approval and regulatory approvals. Management highlighted ongoing cost pressures including higher chemical prices expected to impact Q2, elevated transportation costs from the war in Iran, and continued weakness in consumer demand across residential end markets.

24/7 Wall St

LEG YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

LEG Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“In aggregate, first quarter sales were in line with our expectations, and restructuring actions implemented over the past two years continued to deliver EBIT benefits, reflecting continued progress in structurally improving our earnings profile.”

— Karl Glassman, Q1 2026 Earnings Press Release

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