Carthage, Missouri-based Leggett & Platt reported Q2 2015 earnings of $77.7 million, compared to a net loss of $23.9 million in Q2 2014.
Sales from continuing operations were $997 million, a second quarter record and an increase versus second quarter 2014 (during which sales increased 9 percent). In the current quarter, sales volume grew 9 percent — roughly half from same location unit volume and half from acquisitions — but was partially offset by a 5 percent impact from raw material-related price deflation and currency translation.
Board Chair and CEO David S. Haffner commented, "We posted record sales and EPS during the second quarter, and achieved our highest quarterly EBIT margin in 15 years. For the full year, we expect similar results: record sales from continuing operations, our highest EBIT margin since 2000, and record EPS.We are achieving these results while maintaining our strong financial base. At quarter's end, we had over $500 million available to us through our commercial paper program. Net debt to net capital was 36 percent, comfortably within our 30 percent - 40 percent target range."