AcquisitionsMay 7, 2026, 04:14 PM
Somnigroup Q1 Net Sales $1.8B, Net Income $104M; Leggett & Platt Acquisition
AI Summary
Somnigroup International Inc. released an updated investor presentation detailing strong Q1 2026 financial results and providing an update on the pending acquisition of Leggett & Platt. The company reported Q1 2026 net sales of $1.802 billion, a 12.3% increase year-over-year, and net income of $104 million, a significant turnaround from a loss in the prior year. The $2.5 billion all-stock acquisition of Leggett & Platt is expected to close by year-end 2026, be accretive to adjusted EPS, and generate $50 million in annual cost synergies. Somnigroup also provided a positive 2026 outlook, targeting adjusted EPS between $3.00 and $3.40, and projected long-term adjusted EPS of approximately $5.15 by 2028.
Key Highlights
- Q1 2026 Net Sales reached $1.802 billion, marking a 12.3% increase year-over-year.
- Q1 2026 Net Income was $104 million, a significant improvement from a $(33) million loss in Q1 2025.
- Q1 2026 Adjusted EPS grew by 20.4% year-over-year to $0.59.
- The pending Leggett & Platt acquisition has a total purchase price of approximately $2.5 billion, paid entirely in stock.
- The Leggett & Platt acquisition is expected to generate $50 million in annual run-rate cost synergies.
- The company projects full-year 2026 adjusted EPS to be between $3.00 and $3.40.
- Long-term adjusted EPS is targeted to reach approximately $5.15 by 2028, representing a 24% CAGR from 2025.