Tempur Sealy Q2 sales down 2.8% but EPS up 15.4%; dividend unchanged at $0.13

SOMNIGROUP INTERNATIONAL INC.

2024-Q2 EPS reported $1.02 revenue$2,423,000,000

Net sales $1,233.6M (-2.8% YoY); North America -3.8%, International flat.
Gross margin expanded 2.2 ppts to 44.9%; adjusted EPS $0.63 (+8.6% YoY).
CEO cites softer industry volumes but expects to close Mattress Firm acquisition late 2024/early 2025.
Board declares Q3 cash dividend of $0.13/share, payable Aug 29, record Aug 15.
Leverage ratio improved to 2.70x trailing EBITDA from 3.10x a year ago.

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