Business
Somnigroup International Inc. Reports First Quarter Results
Somnigroup International Inc. (NYSE: SGI, "Company") announced financial results for the first quarter ended March 31, 2025 and revised financial guidance for the full year 2025.
About this update from Somnigroup International Inc.
[{"type":"text","content":"- First Quarter 2025 Net Sales Growth of 35%- Strong First Quarter Cash Flow from Operations of $106 Million","length":109,"tagName":"p","attribs":{}},{"type":"text","content":"DALLAS, May 8, 2025 /PRNewswire/ -- Somnigroup International Inc. (NYSE: SGI, "Company") announced financial results for the first quarter ended March 31, 2025 and revised financial guidance for the full year 2025.","length":244,"tagName":"p"},{"type":"text","content":"On February 5, 2025, the Company completed its previously reported acquisition of Mattress Firm. The Company's 2025 first quarter financials include Mattress Firm's operations for the period February 5, 2025 through March 31, 2025 (the "stub period").","length":274,"tagName":"p"},{"type":"text","content":"FIRST QUARTER 2025 FINANCIAL SUMMARY","length":41,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total net sales increased 34.9% to $1,604.7 million as compared to $1,189.4 million in the first quarter of 2024, primarily driven by the inclusion of $593.7 million of Mattress Firm sales for the stub period, offset by the accounting elimination of $130.1 million of sales from the Tempur Sealy North America segment to the Mattress Firm segment during the stub period.","length":370,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross margin was 36.2% as compared to 39.9% in the first quarter of 2024. Adjusted gross margin(1) was 42.2% as compared to 40.1% in the first quarter of 2024.","length":159,"tagName":"p"}]},{"val":[{"type":"text","content":"Operating income was $13.2 million as compared to $131.5 million in the first quarter of 2024, primarily driven by costs during the quarter related to the Mattress Firm acquisition. Adjusted operating income(1) was $182.8 million as compared to $149.4 million in the first quarter of 2024.","length":289,"tagName":"p"}]},{"val":[{"type":"text","content":"Net loss was $(33.1) million as compared to net income of $76.3 million in the first quarter of 2024. Adjusted net income(1) was $97.0 million as compared to $89.7 million in the first quarter of 2024.","length":201,"tagName":"p"}]},{"val":[{"type":"text","content":"Loss per diluted share was $(0.17) as compared to earnings per diluted share ("EPS") of $0.43 in the first quarter of 2024. Adjusted EPS(1) wa...