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    Elite Comfort Solutions operation boosting L&P’s bedding business

    Time:2019-12-04 14:52:08    Share:

    Leggett & Platt’s Elite Comfort Solutions foam bedding operation is boosting the company’s bedding business, an analyst says. Raymond James, based here, offers its thoughts on L&P’s Elite Comfort Solutions acquisition in a recent report.

    “The Elite Comfort Solutions acquisition in January 2019 was Leggett’s largest acquisition in its company’s history,” the report says. “Less than a year into the acquisition, it appears to be performing in-line with expectations and contributing to further content gains in Leggett’s bedding business.

    “EBIT dollars and margins are up year over year, driven by a nice uptick in finished mattress units. Given some of the changes taking place within the domestic bedding industry (ongoing shift towards e-commerce and compressed bedding), ECS should continue to drive further content gains for Leggett’s bedding business in 2020.

    “Equally important,” the report continues, “the vast majority of domestic bedding e-commerce companies do not have manufacturing capabilities, so we would expect Leggett’s finished mattress capabilities (now vertically integrated all the way through ECS) will continue to create additional opportunities for revenue growth.”

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