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Somnigroup International: Q1 Earnings Snapshot

DALLAS (AP) — DALLAS (AP) — Somnigroup International Inc. (SGI) on Thursday reported first-quarter net income of $104.2 million.

On a per-share basis, the Dallas-based company said it had profit of 49 cents. Earnings, adjusted for non-recurring costs, were 59 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The mattress maker posted revenue of $1.8 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.84 billion.

Somnigroup International expects full-year earnings in the range of $3 to $3.40 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SGI at https://www.zacks.com/ap/SGI

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