Fubotv earnings beat by $0.10, revenue topped estimates
NEW YORK - On Thursday, Somnigroup International Inc. (NYSE:SGI) reported second quarter earnings that slightly beat expectations but provided guidance that failed to excite investors.
The world’s largest bedding company’s shares fell 1.20% in after hours trading following the release
The mattress giant reported adjusted earnings per share of $0.53, edging past analyst estimates of $0.52, while revenue hit $1.88 billion, in line with the consensus forecast of $1.89 billion. Revenue surged 52.5% YoY, primarily driven by the inclusion of $948.8 million from its Mattress Firm acquisition.
Despite the earnings beat, investors appeared concerned about the company’s full-year 2025 guidance of $2.40 to $2.70 per share. While the midpoint of $2.55 is slightly above the analyst consensus of $2.52, the wide range may have created uncertainty.
"We are pleased to report another solid quarter of market outperformance, driven by the successful combination with Mattress Firm, the North American launch of our new Sealy line, and another quarter of robust sales growth for our international business," said Scott Thompson, Company Chairman and CEO.
The company’s international segment showed particularly strong performance with net sales increasing 15% to $293.6 million compared to the same quarter last year. On a constant currency basis, international sales rose 10%.
Somnigroup highlighted that the Mattress Firm integration is "ahead of plan" with teams aligned and the company realizing both cost and sales synergies ahead of purchase assumptions. Direct sales as a percentage of net sales increased dramatically to 66% compared to 23% in the prior year period.
The company’s adjusted gross margin improved to 44.2% from 42.0% in the second quarter of 2024, while adjusted operating income increased 24.3% to $224.4 million, primarily driven by the Mattress Firm acquisition.
Somnigroup also declared a quarterly cash dividend of $0.15 per share, payable on September 5, 2025, to shareholders of record at the close of business on August 21, 2025.
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