Good afternoon, everybody. Thank you for joining us. I'm Bobby Griffin, covering Consumer Hardlines here at Raymond James, and with us this afternoon we have Leggett & Platt for a presentation. With us from the company is CEO Mitch Dolloff, CFO Ben Burns, Cassie Branscum who's Vice President of Investor Relations, and Kolina Talbert who's Manager of Investor Relations. So first, to the whole team, I'd like to thank you guys for the ongoing support at our conference, and Mitch, appreciate the time. Okay, thank you. Thanks everybody for joining us today. Appreciate your time. We'll walk through this and try and be efficient. Forward-looking statements, I think you all know these. No need to read this slide for you. This slide here provides just a high-level overview of Leggett & Platt. We're a diversified manufacturer, which we'll talk through more. We're focused on innovation and producing a variety of engineered components as well as some finished goods as well. We generally have a very strong market position in large addressable markets. We have a very broad customer base and few large competitors in most of our markets. We're really focused on driving operating cash flow. We have a long history of cash generation to support investment in our business as well as driving returns to shareholders. We also have a long history of a healthy balance sheet. We really prioritize maintaining our investment-grade credit rating. We also have a very engaged management team with deep knowledge of our company. This has been something that's been a focus for me since before 2019 when I took over as COO, making sure that we had a very strong succession planning system to drive strong talent with a forward-looking focus and collaborative perspective for our management team going forward. And here you can see some of the management team that we have anyway. You saw Ben who's been with our company for quite a while. He led our internal audit group. He was in our finance team. He came to help me to modernize a bunch of our shared services. Was really successful in that, and then in the middle of last year took over as a CFO role and has done a great job. Kristin Ptasinski is another example. She joined our company four or five years ago. She was an external hire, and she has done a terrific job with bringing her experience to Leggett & Platt and helping us set up and modernize our basic HR infrastructure. Jen Davis is another good example. She's been with Leggett & Platt for quite a while as our Chief Litigation Officer. At the beginning of this year, she took over the General Counsel role. She's very connected with our businesses, which is something that's really important and drives value for us. Ryan Kleiboeker has started in our M&A group. He's helped me with a variety of positions throughout my transition through Leggett & Platt. Recently took over as the Chief Strategic Planning Officer, so helping to lead strategic planning both at the business unit level, at the corporate level, continuing to see M&A, also overseeing FP&A, and working with our IR team. It's been really good to get that different perspective and help us bring those things together. Bobby mentioned Cassie and Kolina who are also taking new leadership roles within our IR team, so great to see that as well. Last two here, Tyson Hagale. Started with him. We were both started in our M&A program many years ago. He's had a variety of positions including M&A leading up through running our home furniture business and then leading our commercial operations bedding and then stepping into the bedding leadership role in 2022. And then finally, Sam Smith who currently runs our home furniture business will be stepping into the Furniture, Flooring, and Textiles Product role at the beginning of April. Succession planning activity following Steve Henderson's upcoming retirement. So sorry to go through so many details, but I wanted to share with you our focus and I think the value that we create from a really strong management team. Okay, let's talk a little bit more about our portfolio. We do have a very diversified company, so I'll try and piece some of it together for you and make it a little bit simpler. So about 40% of our portfolio is around Bedding Products. That used to be segregated into different business units. We've now integrated that much more, so we have one view around bedding. About 30% of our business is in automotive, aerospace, and hydraulic cylinders. That rolls up into our Specialized Products segment. Then about the other 30% is in our home furniture, Work Furniture, and flooring and textiles product segment. That rolls up into our furniture, flooring, and textiles product segment. Very diversified. There are some synergies across those segments and within them, but we continue to work to tear down the silos and share best practices across our company overall. If we look from a geographic perspective, see that about 70% of our production is in North America with about 60% of that in the U.S. and the rest split between Canada and Mexico. We have about 15% in Europe, about 10% in China, and then a few other spots like India and South Korea. Pretty diverse, a broad geographic base. Here we can dig a little bit deeper into our segments. So I'll start with the bedding segment, which is really what founded our business over 130 years ago. We really started the business around mattress innerspring production. It's been a core part of our business throughout our legacy. Over time, we did backward vertical integration into producing our own steel wire that goes into those innersprings and then another step back into our own steel rod. We also produce our own machinery to efficiently produce innovative innerspring products, and that's been a core part of our value creation over time. We added on the production of finished adjustable bases to our portfolio, and more recently in 2019, we acquired a company called ECS that provides specialty foam and private label finished mattresses as well as accessories like toppers and pillows. So we've made a lot of progress across our bedding market, our bedding product segment evolving with changing market conditions. Those market conditions have continued to be really dynamic, more dynamic since near the pandemic area than they were historically, but we're trying to position ourselves to be able to take advantage of those opportunities as we move forward. On our specialized product segment, for sure the biggest part of that segment is our automotive business. It's been a very attractive business to us for quite some time. We focus on comfort and solutions like lumbar systems and seat support systems. We also focus on convenience features, which is a newer addition for us, actually taking out some of the vertical integration from those lumbar systems to apply them into other actions that positively impact the consumer in the vehicle like moving seats, moving headrest, folding seats, opening tailgates, opening doors, things like that. So that's been very attractive and strong growth, strong margin provider for us. We also entered the aerospace business. I don't know exactly when that was, but probably 2019, not 2012. Okay, so it's been around a while. That is an interesting business for us. It's an attractive market. It's not a huge business for us. It's probably only about $200 million. We produce welded and seamless tubing, tube assemblies, and flexible joints. It's a very attractive market. It's got a strong backlog right now. It provides strong growth for us. It's one where we need to continue to make progress or think about our portfolio there but get some scale. We also more recently entered into hydraulic cylinders business, initially producing hydraulic cylinders primarily for material handling within the U.S. and then also added facilities that produce hydraulic cylinders in mainly Europe for the heavy construction industry. So those more industrial-facing end-markets provide good diversification for us from our residential end-markets, and we think these are opportunities to continue to drive our business. The last segment here is on the furniture, flooring, and textile products. As we mentioned, in home furniture, we produce recliner mechanisms and other components that go into seating and sofa sleeper components. Our work furniture business is focused mainly historically on components that go into contract-based seating, but we also do private label finished upholstery seating that also goes into some retail and residential end-markets as well. Our flooring products business has been around for a while, primarily producing underlayment for carpet cushion. We have a very strong competitive position in that market and have done very well in recent environments. We see a little bit of softness in that market as we see low housing turnover and lower renovation, but it is a strong market position for us. Then our textiles segment is very interesting. Our textiles business is very interesting. We have really strong knowledge about global supply chain around textiles and how we can acquire those goods, add value through them through our converting processes, and then resell them into attractive in-markets. One of those, for example, would be our Geo Components in-markets, so where we are serving civil construction in-markets as well as some large retailers as well. That's a little bit deeper dive on our segments and the products that come out of them. Following that, here, you can see it's like our market exposure. Of course, about 55% of our exposure is to Consumer Durables, which have been in a pretty low demand environment for a while here. So we're trying to navigate that. We'll talk about that a little bit more. And then about 20% automotive, about 25% in more industrial-facing markets. So if you look at our key economic indicators, it's hard to prioritize them because I think they're all pretty closely linked. So what's happening on interest rate levels goes along with what's happening in employment, and that certainly drives consumer confidence, which translates into discretionary spending. And certainly the housing turnover is a key driver for us, and particularly if you look at that not only in new production but in existing home turnover and the impact that has on remodeling activity. So fortunately, we have some of this more industrial-facing businesses to help offset some of the slower demand in our residential-facing end-markets. Here's an overview of our results for last year. We had sales of about $4.7 billion. We had adjusted EBIT of $334 million, EBITDA of $513 million, and adjusted EPS of $1.39. Those adjustments relate to exclusion of a fairly sizable intangible impairment that we took in the fourth quarter of last year related to some customer instability in our bedding end-markets from our specialty foam acquisition. They also exclude some gains that we had from real estate sales and insurance proceeds. You see that we had almost $500 million of cash from operations generation, which is very strong and goes back to my comments around our focus on driving strong cash flow. Here's our guidance for this year put out in early February. So at the midpoint, we'd see sales at about $4.5 billion at the midpoint, and at the midpoint, we'd see our volume down high single digits in our Bedding Products segment, a little bit more than the market. And we talked about why that is. There's a couple key drivers. Up low single digits in our Specialized Products segments as we continue to see growth in particularly automotive and aerospace. And then down low single digits in Furniture, Flooring, and Textiles Products segment, largely due to the lower residential in-market demand. We also expect to see some continued impact from raw material-related price reductions and currency impact. We've seen modest inflation throughout the last year or two, and that's what we expect to continue to see going forward. From an EPS standpoint, we see at about $1.20 at the midpoint. That excludes some of the impact from restructuring costs that we'll talk about here in a little bit, as well as excluding some $0.10-$0.15 of gains from real estate sales that we expect to execute this year. So our operating cash flow at the midpoint is about $350 million expected. You see that's lower than last year, mainly based on slightly lower earnings. And although we will see working capital reduction, it'll be less than the huge working capital reduction that we saw last year. So what are we doing in this environment? Well, we're really focused on our financial strength and improving our performance so that we can make sure that we navigate this current challenging economic environment and position ourselves for long-term success. So to us, that means really making sure we drive strong cash management and maintain our investment-grade credit rating, improving profitability through operational excellence like the restructuring we'll talk about and innovation, and making sure we're taking advantage of opportunities in our in-markets with new product opportunities and providing solutions for customers. We have a lot of actions underway here. So here's a little bit more on the cash flow and balance sheet. I think we've touched on both of these things. I think the one thing I would add here is the second bullet that notes that we do have strong cash flow even in economic challenging times, and we've proven that over the last couple of years. We'll maintain our focus there. And I said that we have our priority on maintaining the investment-grade credit rating. We do have a pretty large revolving credit facility in place. We use commercial paper rather than our credit facility. We have that as a backup. We do have about $300 million of 10-year notes that will come due in November that we expect to pay down with commercial paper, leaving us the opportunity to take down more debt as we move forward. So we mentioned the restructuring plan that we announced in mid-January, and it's really a plan primarily focused on our bedding product segment and really optimizing our manufacturing and distribution footprint and really allowing us to align our operating footprint with some changes in the market that have developed over the years. We also have some consolidation in our home furniture business and our flooring business. Those are smaller, but they were very helpful to align capacity with regional demand and to continue to drive operational efficiencies. So here's a little bit more detail on our Bedding Products initiatives. So we talked about aligning our footprint and really optimizing that footprint. You see that we expect to go from about 50 facilities to 30 facilities -35 facilities. facilities. So we'll consolidate our manufacturing locations into a smaller number of higher output facilities with sufficient capacity to meet our customer needs, not only in today's environment, but into an environment where we get back into normalized growth and beyond. We will exit some capacity for historical components that we produced like low-end open-coil innersprings where we just have excess capacity to the market. But for the most part, the right way to think about this is optimizing our efficiency rather than just reducing capacity. We'll also move away from a broad set of local distribution sites to more efficient regional distribution sites to support those larger production facilities, and that's the largest driver of the number of facilities reduction. We continue our focus on shifting towards higher value, innovative content, and customer solutions. That's been something that's been ongoing as we've moved from things like open-coil to ComfortCore to Quantum Edge and other products that we'll touch on here in a little bit. While that's not directly in the restructuring program, it will be facilitated by the moves we're making, making sure we have the capacity and technology and efficiency to drive those products. Another benefit from the restructuring, we think, is being able to leverage our specialty foam and innersprings technology by further integrations. Those were really separate businesses, and we think we have the ability to improve our efficiency and attractiveness of our hybrid mattress production by integrating more foam and spring activities. So let's talk a little bit about the financial impact of the restructuring. So we expect to generate gains of $40 million -$50 million in EBIT benefit from these activities. Activities are underway very aggressively. We expect to start realizing a bit of the savings in the back half of 2024, and it will accelerate through 2025 where we expect to realize the annualized run rate of $40 million -$50 million by the end of 2025. So strong benefits. The plan is going well. We feel good about our execution of it. We also anticipated some sales reduction due to these changes. You see $100 million here on the slide. About half of that $50 million is due to geographic changes where we're choosing to exit some businesses, primarily in specialty foam where we're producing commodity foams that go into furniture and other kinds of applications that really aren't the key strategy for us in that part of the business. So we're exiting some of those facilities. The other $50 million is something we conservatively built in due to changing our distribution footprint from those more local entities. We think we can still service our customers very well. The interaction with them has gone good, so we think that we can save more than that $50 million that we baked in, but we wanted to take a reasonably conservative outlook there. Finally, we expect to realize $60-$80 million of proceeds from exiting the real estate associated with the consolidation, and we expect to be able to complete that by the end of 2025, and we'll use those proceeds for debt reduction. Here's the cost of the restructuring plan. You see total cost of about $65 million -$85 million expected, pretty close with the benefits from the real estate sales that we talked about. So this should provide strong return for us. About $30 million -$40 million of those are cash cost, most of which we expect to realize this year, and then about $35 million -$45 million of non-cash cost, most of which we expect to realize in 2025. We can move on. Okay. So we've talked about a lot. So what are the things that we're focused on to improve our profitability over the long term? The biggest driver overall, by far without a doubt, is improved volume, improved demand in our residential end-markets. Over the last couple of years, we and our other market participants have anticipated that we'd see improvement in the back half of the year, and we haven't for the last two years. So we're trying to take a little bit more conservative outlook, and we'll believe it when we see it. But we do believe that that residential end-market demand will improve as we see interest rates, inflation, and other economic conditions start to normalize a little bit. It's hard to predict when that is. So in the meantime, we're really focusing on improving our positioning for when that demand environment does return. So as we talked about with the restructuring activity, a strong focus on improving our operational efficiency across our businesses. So that goes beyond the restructuring activity itself. We're also focused on other items like making sure we're getting cost recovery beyond raw materials. We do a great job of passing on raw material costs, but in this inflationary environment, we've seen other things like labor, utilities, lease cost increases as well. We want to make sure that we're putting ourselves in a competitive position there, whether it's through price increases, whether it's through new products, or continuous improvement kind of activities. Also, make sure we're maintaining our pricing discipline in a number of areas, particularly bedding. We have index-driven pricing contracts, but there's some other areas where we have more pricing leverage. Of course, closely managing our corporate costs. That's something that's been a focus for quite a while. Making sure we're building out support for our businesses to execute well, but making sure that support is driving value and that we're taking advantage of opportunities to provide improved performance and efficiency from our corporate services. What's always been on our plate is making sure we're driving product innovation, driving portfolio management, and continuous improvement. We'll continue to focus on these areas to drive improved profitability as we go forward. This is just a little bit of a summary of we talk about the diversification of our businesses, and they truly are, but there are some similarities. We talk about that we have generally large addressable in-markets. We have strong market positions. We have few large competitors. We have a very broad customer base, which is helpful to serve the broader market. Most of our markets tend to grow at around GDP in the long term and provide us opportunity for content gains, right? We continue to move towards higher value across most of our businesses. And so we're able to do that really going back to our historical critical component strategy where the things that we provide to our customers are highly engineered, they're fairly technical, they're not super high cost compared to the value of the end products that they go in for the most time. And so that gives us good collaboration with our customers and then continuing to drive that into product differentiation and, in some cases, stepping into finished goods beyond components and making sure we have operational efficiency that we can leverage across those businesses. So it is very diverse. We are working to take advantage of synergies across our business where we can, and we'll continue to do so. Here's just an example of some of our bedding products. You can see we make bedding products anywhere from adjustable base finished goods to foam layers to innerspring layers to toppers and pillows. So really broad base of products for us. On the lower right-hand side, you can see an example of a new innovation from us called our Eco-Base that is a new innerspring innovation that provides lower cost to our OEM customers and also a more sustainable product, reducing foam at the bottom layer. And then on the right is also an interesting new product that's been very attractive in the market, which is what we call combination pocket. So it includes a specialty innerspring at the base with specialty foam at top and provides, again, very efficient lower cost assembly for our OEMs and very comfortable product for the end consumer. Next slide here. We won't go into detail with this, but around automotive and our products here. So I said that we work on comfort and convenience markets. So it's things from like lumbars, to massage systems, to motors and actuators that drive movement within the vehicle. And these provide, again, very high engineering and collaboration with our customer base and the need for very strong technical production, which are strengths for us. Okay. And the last slide here. We talk about sustainability and governance, which have been focus areas for us for a while. And maybe I'll tie this to our core values, which are putting people first and doing the right thing, which clearly align with the first two bullets here of our people and our business. That's six is governance. We really have a strong commitment to growing our employees' careers and driving value for our company, as well as strong, strong long-term history around governance, and that's really sustaining what we have in place there. The last couple of values would be doing great work together and taking ownership and raising the bar. And I think those apply to the work we're doing around assessing our emissions, our environmental emissions, and continuing to try and restrict those emissions going forward, as well as making the driving innovation to reduce the environmental impacts of our products over their life cycle. We're also committed to strong supply chain management, making sure that our supply chain base is doing the right thing and doing the right thing where we are. So I think the last slide here, and I'll turn over to Bobby, but just thanks for attending today. You're welcome. Please reach out to our IR team at any time. We're happy to talk and provide more information. Very good. I think we're right on time. We'll head to the breakout. Okay. Thanks. Thanks, Mitch.