Leggett & Platt’s Bedding Products business delivered a significant profitability improvement during the second quarter of 2026 despite continued weakness across the U.S. mattress industry.
Bedding adjusted EBIT increased to $37 million from $13 million a year earlier, an increase of approximately $24 million. Reported Bedding EBIT increased 55% to $42.1 million from $27.2 million.
The earnings improvement came even as Bedding trade sales declined 1% and volume fell 7%. Leggett & Platt attributed the volume decline to retailer merchandising changes, lower Adjustable Bed volume with a customer, weakness in U.S. and European bedding markets and its decision to stop serving a financially challenged U.S. Spring customer.
Management estimates that U.S. mattress market unit volumes declined by low double digits during Q2, roughly consistent with the weakness seen in the first quarter.
The Bedding profitability improvement was driven by metal margin expansion, favorable sales mix, a temporary price-cost timing benefit in Specialty Foam and restructuring benefits. Higher trade rod and wire sales also partially offset weaker mattress-related demand.
Companywide sales declined 6% to approximately $1 billion, including a 5% impact from 2025 divestitures. Organic sales declined 1%. Adjusted EBIT nevertheless increased to $89 million from $76 million, while adjusted EPS rose to $0.39 from $0.30.
Leggett & Platt is also progressing toward its proposed acquisition by Somnigroup International. The HSR waiting period expired in June, with shareholder approval scheduled for August 20 and remaining regulatory approvals still required.
KEY QUOTES:
“Bedding industry conditions remain challenged both by sluggish consumer activity and continued consolidations and bankruptcies across the value chain. We estimate that U.S. mattress market units declined by low double digits in the second quarter, similar to the declines we saw in the first quarter.”
“In our Bedding Products segment, continued strong performance of our trade rod and wire business partially offset the decline from lower mattress demand.”
Karl Glassman, President and CEO of Leggett & Platt
