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Somnigroup International (NYSE: SGI) has announced a 15% increase in its quarterly cash dividend to $0.15 per share, payable on March 20, 2025, to shareholders of record as of March 6, 2025. This marks the company's fifth dividend increase in four years, with the cash dividend more than doubling since its inception in 2021.
According to CEO Scott Thompson, the dividend increase reflects the company's strong market position and demonstrated ability to generate significant free cash flow.
Somnigroup International (NYSE: SGI) reported Q4 2024 financial results with net sales increasing 3.2% to $1.2 billion. The company saw mixed performance across segments, with North America sales remaining flat while International sales grew 14.1%. Q4 2024 operating income increased 4.7% to $127.6 million, though net income decreased 6.7% to $71.9 million.
Key highlights include adjusted EPS growth of 13.2% to $0.60, improved leverage ratio to 2.31x, and a 15% increase in quarterly dividend to $0.15 per share. The company completed the acquisition of Mattress Firm on February 5, 2025, positioning itself as the world's largest bedding company. For 2025, Somnigroup expects adjusted EPS between $2.60-$3.00, representing a 10% increase at midpoint. The company targets mid-single-digit sales growth from 2026, projecting adjusted EPS to reach approximately $4.85 by 2028.
Tempur Sealy International has completed its transformation to Somnigroup International (NYSE: SGI), now trading under the new ticker symbol 'SGI'. The company, positioned as the world's largest bedding company, derives its new name from Latin roots signifying sleep ('somn') and all-encompassing ('omni').
The company's portfolio includes major brands like Tempur-Pedic, Sealy, Stearns & Foster, and Sleepy's, alongside private label and OEM products. Somnigroup's integrated structure encompasses Tempur Sealy, Dreams, and Mattress Firm operations, supporting a global omni-channel strategy to serve consumers across all shopping platforms.
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