Last $42.63 USD
Change Today -2.44 / -5.41%
Volume 4.2M
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leggett & platt inc (LEG) Key Developments

Leggett & Platt, Incorporated Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015

Leggett & Platt, Incorporated reported earnings results for the fourth quarter and year ended December 31, 2014. Fourth quarter adjusted EPS from continuing operations were $0.41, an 8% increase compared to $0.38 in the prior year. Fourth quarter 2013 EPS was $0.04, including non-cash impairment and a discontinued operations loss. Fourth quarter 2014 sales from continuing operations grew 11% versus the prior year. Net sales from continuing operations were $953.3 million against $589.2 million a year ago. Earnings before income taxes were $59.0 million against loss before income taxes was $3.7 million a year ago. Net earnings from continuing operations were $46.2 million against $10.5 million a year ago. Net earnings were $21.6 million or $0.14 per share diluted against $6.3 million or $0.04 per share diluted a year ago. Net earnings attributable to the company were $20.6 million against $5.3 million a year ago. Net cash from operating activities was $166.2 million against $178.1 million a year ago. Additions to PP&E were $31.1 million against $20.6 million a year ago. For the year, the company reported continuing operations, adjusted per share of $1.78 against $1.50 a year ago. Earnings per share from continuing operations were $1.55 against $1.25 a year ago. EPS was $0.68 against $1.34 a year ago. Net sales from continuing operations were $3,782 million against $3,477 million a year ago. The company generated $382 million of cash from operations during 2014. Major uses of cash included $94 million to fund capital expenditures, $168 million for dividend payments, $70 million for acquisitions, and $128 million (net) to repurchase stock. Earnings before income taxes were $295.5 million against $237.6 million a year ago. Net earnings from continuing operations were $225.2 million against $186.3 million a year ago. Net earnings were $101.2 million or $0.68 per share diluted against $199.7 million or $1.34 per share diluted a year ago. Net earnings attributable to the company were $98.0 million against $197.3 million a year ago. Net cash from operating activities was $381.9 million against $416.9 million a year ago. Additions to PP&E were $94.1 million against $80.6 million a year ago. Net debt as on December 31, 2014 was $2,148.4 million against $2,278.6 million as on December 31, 2013. For the year 2015, the company expects additional sales growth, EBIT margin improvement, and record operating EPS. The company projects 2015 continuing operations sales of $3.9 to 4.1 billion, or 3% – 8% growth, and EPS of $1.90 to 2.10. Cash from operations should be approximately $350 million in 2015. Capital expenditures are expected to be roughly $120 million, and dividend payments should approximate $170 million.

Leggett & Platt, Incorporated, Q4 2014 Earnings Call, Jan 30, 2015

Leggett & Platt, Incorporated, Q4 2014 Earnings Call, Jan 30, 2015

Leggett & Platt, Incorporated to Report Q4, 2014 Results on Jan 29, 2015

Leggett & Platt, Incorporated announced that they will report Q4, 2014 results on Jan 29, 2015

Leggett & Platt, Incorporated(NYSE:LEG) added to S&P 500 Growth Index

Leggett & Platt, Incorporated(NYSE:LEG) added to S&P 500 Growth Index

Leggett & Platt, Incorporated(NYSE:LEG) dropped from S&P 500 Value Index

Leggett & Platt, Incorporated(NYSE:LEG) dropped from S&P 500 Value Index

 

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TEV/Sales 1.2x
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