Aug 26, 12:41 PM ET
Somnigroup completed its all-stock acquisition of Leggett & Platt on August 26, 2026, a transaction the company values at about $2.3 billion including Leggett & Platt's existing debt. Former Leggett & Platt shareholders now own about 9% of the combined company on a fully diluted basis, which dilutes existing Somnigroup holders, while the company reports leverage reduced by about 0.2 times and a higher synergy target.
- Merger closed August 26, 2026 under an agreement dated April 13, 2026; Leggett & Platt is now a wholly owned subsidiary.
- Each Leggett & Platt share converted into 0.1455 Somnigroup shares; former Leggett & Platt shareholders own about 9% of the combined company.
- Annual run-rate synergy target raised to $75 million from the initial $50 million; net leverage reduced by about 0.2 times.
- The company expects about $50 million of annualized non-cash expense from fair value adjustments to the acquired business and about $10 million from the acquired bonds; $1.5 billion of Leggett & Platt notes remain outstanding.
Read the filing on SEC.gov ↗
Aug 6, 6:37 AM ET
Somnigroup reported second-quarter 2026 net sales down 3.0% to $1.82 billion, while diluted EPS rose 10.6% to $0.52 and adjusted EPS rose 9.4% to $0.58. The company also revised its full-year 2026 adjusted EPS outlook to a range of $2.85 to $3.15, and declared a $0.17 quarterly dividend, so shareholders see weaker sales alongside higher earnings and a changed forecast.
- Q2 2026 net sales decreased 3.0% to $1,823.5 million from $1,880.8 million a year earlier; Mattress Firm net sales fell 2.8%, mainly from store closures
- Q2 2026 diluted EPS rose 10.6% to $0.52; adjusted EPS rose 9.4% to $0.58; net income rose 12.0% to $110.9 million
- Full-year 2026 adjusted EPS guidance revised to $2.85 to $3.15, about an 11% increase from 2025 adjusted EPS at the midpoint
- Quarterly cash dividend of $0.17 per share, payable September 3, 2026, to holders of record on August 20, 2026
Read the filing on SEC.gov ↗
Jul 27, 4:05 PM ET
On July 27, 2026, Somnigroup entered into Amendment No. 5 to its 2023 Credit Agreement, providing a $1.2 billion term loan A and a $510 million incremental revolving commitment, with the revolver totaling $1.7 billion after the amendment. The company used $700 million to prepay part of its 2025 Term B loans and said the refinancing reduces expected annual interest expense by approximately $5 million, while the amendment also adjusts terms tied to its anticipated acquisition of Leggett & Platt.
- Term loan A of $1.2 billion and revolving credit facility of $1.7 billion both mature July 27, 2031
- $700 million prepayment of outstanding 2025 Refinancing Term B Loans
- Company expects approximately $5 million lower annual interest expense
- Amendment modifies terms for the anticipated Leggett & Platt, Incorporated acquisition and allows collateral release upon an Investment Grade Rating
Read the filing on SEC.gov ↗
May 7, 6:38 AM ET
Somnigroup reported first quarter 2026 net sales of $1,801.5 million, up 12.3%, mainly because Mattress Firm was included for a full quarter. Diluted EPS was $0.49, compared with a loss of $(0.17) a year earlier, and adjusted EPS rose 20.4% to $0.59. The company reaffirmed its 2026 adjusted EPS guidance of $3.00 to $3.40, which it said is about a 19% increase at the midpoint over 2025.
- Net sales rose 12.3% to $1,801.5 million from $1,604.7 million; Mattress Firm contributed a full quarter versus February 5 to March 31 in 2025.
- Diluted EPS was $0.49 versus a loss of $(0.17); adjusted EPS rose 20.4% to $0.59.
- Mattress Firm adjusted gross margin declined 360 basis points to 31.5%, which the company attributed to promotional spending, product mix and fixed cost deleverage.
- The board declared a quarterly cash dividend of $0.17 per share, payable June 4, 2026, to holders of record on May 21, 2026.
Read the filing on SEC.gov ↗
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