SGI 8-K: Tempur Sealy Q3 EPS falls 14.7% to $0.64; sales flat; gross margin up 270bps to 44.9%

Tempur Sealy Q3 EPS falls 14.7% to $0.64; sales flat; gross margin up 270bps to 44.9%

SOMNIGROUP INTERNATIONAL INC.

2023-Q3 EPS reported $1.64 revenue$3,754,900,000

Net sales $1.277B, down 0.5% YoY; North America -3.2%, International +12.3%.

GAAP EPS $0.64 vs $0.75; adjusted EPS $0.77 vs $0.78.

Gross margin expanded 270bps to 44.9%; adjusted gross margin 45.9%.

Operating cash flow $230M in Q3; quarterly dividend $0.11/share declared.

Mattress Firm acquisition expected mid-to-late 2024; FTC second request response in Q4.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SOMNIGROUP INTERNATIONAL INC. reported the third quarter ended September 30, 2023 results: revenue $1,277.1 million, net income $113.3 million, EPS $0.64.

Period: the third quarter ended September 30, 2023
Revenue: $1,277.1 million
Net income: $113.3 million
EPS: $0.64
Result: reported results

Exact text from the filing

• Total net sales decreased 0.5% to $1,277.1 million as compared to $1,283.3 million in the third quarter of 2022, with a decrease of 3.2% in the North America business segment and and increase of 12.3% in the International business segment. On a constant currency basis (1) , total net sales decreased 1.7%, with a decrease of 3.5% in the North America business segment and an increase of 6.7% in the International business segment. • Gross margin was 44.9% as compared to 42.2% in the third quarter of 2022. Adjusted gross margin (1) was 45.9% as compared to 42.5% in the third quarter of 2022. • Operating income decreased 8.9% to $183.2 million as compared to $201.0 million in the third quarter of 2022. Adjusted operating income (1) increased 3.9% to $214.7 million as compared to $206.7 million in the third quarter of 2022. • Net income decreased 14.6% to $113.3 million as compared to $132.7 million in the third quarter of 2022. Adjusted net income (1) decreased 0.7% to $136.8 million as c

View on SEC.gov