Judy Merrick's questions to Leggett & Platt Inc (LEG) leadership • Q3 2024
Question
Judy Merrick sought clarification on the pace of mattress component sales, asking if the Q4 outlook assumes flat U.S. consumption, and inquired whether the outperformance of ComfortCore products was a recent development within the quarter.
Answer
President Tyson Hagale clarified that the overall U.S. bedding market is expected to be down in Q4, with domestic production declining more than consumption due to import impacts. He also explained that ComfortCore's outperformance is a long-term trend driven by a secular shift from Open Coil and strong performance with certain customers, rather than a new development in Q3.