| Market Capitalization (Millions $) |
1,297 |
| Shares
Outstanding (Millions) |
141 |
| Employees |
15,900 |
| Revenues (TTM) (Millions $) |
3,951 |
| Net Income (TTM) (Millions $) |
225 |
| Cash Flow (TTM) (Millions $) |
98 |
| Capital Exp. (TTM) (Millions $) |
68 |
Business Description
Company Profile: Leggett & Platt, Inc.
Company Overview:
Leggett & Platt, Inc. was founded in 1883 as a partnership in Carthage, Missouri and incorporated in 1901. The company has established itself as a pioneer in the development of steel coil bedsprings and has evolved into a diversified manufacturer of a vast array of engineered components and products. These products are integral to homes, offices, retail environments, and the automotive sector.
Business Structure:
Leggett & Platt operates 29 distinct business units, which are categorized into 11 groups, further organized into five segments. This structure allows the company to effectively manage its diverse product lines and respond to market dynamics.
Key Product Segments:
Leggett & Platt is recognized as the largest independent manufacturer in North America for several key areas, including:
- Components for residential furniture and bedding
- Retail store fixtures and point-of-purchase displays
- Components for office furniture
- Non-automotive aluminum die castings
- Drawn steel wire
- Automotive seat support and lumbar systems
- Machinery for the bedding industry, including wire forming, sewing, and quilting equipment
Distribution of Products:
The companys products are primarily distributed through its sales personnel, supplemented by strategic relationships and agreements with external sales representatives and distributors. Leggett & Platt continuously assesses these partnerships, none of which are deemed to have a significant adverse impact on the companys overall financial stability or operational results.
Raw Materials Utilization:
Leggett & Platts manufacturing processes utilize a variety of raw materials essential to product creation, including:
- Steel scrap and steel rod
- Woven and non-woven fabrics
- Aluminum and angle iron
- Coil and sheet steel
- Rough green lumber
- Textile scrap
- Foam chemicals and scrap
- Plastic resin
The company produces many of its raw materials in-house, ensuring a consistent supply chain. For example, its rod mill in Sterling, Illinois supplies steel rod, which is pivotal in the production of steel wire needed for various products.
Customer Base:
Leggett & Platt serves a wide-ranging clientele globally, nurturing numerous long-standing business relationships. Notably, no single customer contributes more than 5% of the companys total consolidated revenues. The majority of its international operations are located in Canada, Europe, and Mexico, where the company manufactures and distributes various products tailored to local markets.
International Operations:
- Canada: Focused on innersprings for mattresses, fabricated wire for various industries, and retail solutions including shelving and display systems.
- Europe: Produces innersprings, industrial fabric, and office chair mechanisms, while also offering machinery designed for the bedding sector.
- Mexico: Manufactures innersprings, wire grids, aluminum die castings, and diverse industrial fabric, along with automotive components and commercial shelving.
Competition Landscape:
Leggett & Platt operates in a highly competitive environment with many companies providing similar products. Key competitive factors include price, product quality, innovation, and customer service. The company faces challenges from international competitors, particularly in Asia, prompting a strategic focus on developing Asian supply sources and establishing a manufacturing presence in the region. This enables the company to cater to both local and global markets more effectively.
Conclusion:
With a rich history and a commitment to innovation, Leggett & Platt, Inc. stands as a prominent player in the manufacturing sector, focusing on diverse market needs while optimizing its operational efficiencies across regions.
Company Address: 1 Leggett Road Carthage, 64836 MO
Company Phone Number: 358-8131 Stock Exchange / Ticker: NYSE LEG
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