--- schema_version: "secwatch.filing_event.v1" accession: "0001206264-24-000044" form_type: "8-K" ticker: "SGI" cik: "0001206264" company_name: "SOMNIGROUP INTERNATIONAL INC." filed_at: "2024-02-08T23:59:59+00:00" generated_at: "2026-06-06T05:24:32.552127+00:00" event_type: "earnings" sentiment: "positive" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # Tempur Sealy Q4 adj EPS $0.53, net sales $1.17B, gross margin +260bps; secures $625M acquisition loan; dividend up 18% ## Summary - Q4 net sales $1,170.5M, down 1.4% YoY; North America -4.0%, International +7.8%. - GAAP EPS $0.43, adj EPS $0.53; adj gross margin 44.2%, up from 41.6% YoY. - Full year 2023 EPS $2.08 ($2.40 adj), sales $4,925.4M. - Added $625M delayed draw term loan + $40M revolving credit (due Oct 2028) for Mattress Firm acquisition. - Quarterly cash dividend raised 18% to $0.13/share, payable March 7, 2024 to record Feb 22. ## SEC filing metadata - accession: 0001206264-24-000044 - form_type: 8-K - ticker: SGI - cik: 0001206264 - company_name: SOMNIGROUP INTERNATIONAL INC. - filed_at: 2024-02-08T23:59:59+00:00 - event_type: earnings - sentiment: positive - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 1.01, 2.02, 2.03, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1206264/000120626424000044/0001206264-24-000044-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1206264/000120626424000044/tpx-20240206.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001206264-24-000044 - JSON: https://secwatch.observer/filing/0001206264-24-000044.json - Plain text: https://secwatch.observer/filing/0001206264-24-000044.txt ## Key facts - Debt Financings SOMNIGROUP INTERNATIONAL INC. incurred term loan of $625 million with Bank of America, N.A., as administrative agent at base rate plus an applicable margin or Term Benchmark rate plus an applicable ma maturing October 10, 2028. - Instrument: term loan - Principal: $625 million - Counterparty: Bank of America, N.A., as administrative agent - Rate: base rate plus an applicable margin or Term Benchmark rate plus an applicable ma - Maturity: October 10, 2028 - Event: incurrence source text: The Amendment provides for an incremental delayed draw term loan in the aggregate principal amount of $625 million evidence_url: https://www.sec.gov/Archives/edgar/data/1206264/000120626424000044/0001206264-24-000044-index.htm - Debt Financings SOMNIGROUP INTERNATIONAL INC. incurred revolving credit of $40 million with Bank of America, N.A., as administrative agent maturing same terms and conditions as the Company's existing revolving loans under the Credit Agreement. - Instrument: revolving credit - Principal: $40 million - Counterparty: Bank of America, N.A., as administrative agent - Maturity: same terms and conditions as the Company's existing revolving loans under the Credit Agreement - Event: incurrence source text: redit Agreement dated as of October 10, 2023 (as amended, supplemented or otherwise modified as of the effective date of the Amendment, including by the Amendment, the "Credit Agreement"), among several banks and other financial institutions party thereto and Bank of America, N.A., as administrative agent. The Amendment provides for an incremental delayed draw term loan in the aggregate principal amount of $625 million (the "Delayed Draw Term Loan") and an incremental revolving loan in the aggregate principal amount of $40 million (the "Incremental Revolving Loan"). evidence_url: https://www.sec.gov/Archives/edgar/data/1206264/000120626424000044/0001206264-24-000044-index.htm - Earnings Releases SOMNIGROUP INTERNATIONAL INC. reported the quarter and full year ended December 31, 2023 results: revenue $1,170.5 million, net income $77.1 million, EPS $0.43. Guidance initiated. - Period: the quarter and full year ended December 31, 2023 - Revenue: $1,170.5 million - Net income: $77.1 million - EPS: $0.43 - Guidance: initiated - Result: reported results source text: and year ended December 31, 2023. The Company also issued financial guidance for the full year 2024. FOURTH QUARTER 2023 KEY HIGHLIGHTS • Total net sales decreased 1.4% to $1,170.5 million as compared to $1,187.4 million in the fourth quarter of 2022, with a decrease of 4.0% in the North America business segment and an increase of 7.8% in the International business evidence_url: https://www.sec.gov/Archives/edgar/data/1206264/000120626424000044/0001206264-24-000044-index.htm - Material Agreements SOMNIGROUP INTERNATIONAL INC. amended Amendment No. 1 with Bank of America, N.A., as administrative agent, and several banks and other financial institutions valued at $625 million (effective 2024-02-06). - Action: amendment - Agreement: credit facility - Counterparty: Bank of America, N.A., as administrative agent, and several banks and other financial institutions - Value: $625 million - Effective: 2024-02-06 source text: On February 6, 2024, Tempur Sealy International, Inc. (the "Company"), Tempur-Pedic Management, LLC (the "Additional Borrower") and certain subsidiaries of the Company (the "Subsidiary Guarantors") entered into an Amendment No. 1 (the "Amendment") to the Company's 2023 Credit Agreement dated as of October 10, 2023 (as amended, supplemented or otherwise modified as of the effective date of the Amendment, including by the Amendment, the "Credit Agreement"), among several banks and other financial institutions party thereto and Bank of America, N.A., as administrative agent. The Amendment provides for an incremental delayed draw term loan in the aggregate principal amount of $625 million (the "Delayed Draw Term Loan") and an incremental revolving loan in the aggregate principal amount of $40 million (the "Incremental Revolving Loan"). evidence_url: https://www.sec.gov/Archives/edgar/data/1206264/000120626424000044/0001206264-24-000044-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.