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Somnigroup’s Hidden Catalyst: $100 Million Of Synergies Across Mattress Firm And Leggett & Platt!

Somnigroup reported its first quarter 2026 results with a 12% increase in net sales to $1.8 billion, alongside a 20% rise in adjusted EBITDA to $297 million and a 20% increase in adjusted earnings per share to $0.59. These results came during a challenging environment marked by geopolitical tensions and adverse winter weather in the U.S., which contributed to an industry-wide mid-single-digit decline in global bedding demand—below Somnigroup’s earlier expectation of flat to slightly positive demand. Despite these headwinds, the company highlighted its resilience and leadership positioning across multiple segments. Key positive drivers include approximately 100 basis points of EBITDA margin expansion and record first-quarter operating cash flow of $247 million, which was used to reduce total net debt to $4.5 billion and a leverage ratio of 3.1x. The company aims to return to its target leverage range of 2 to 3x adjusted EBITDA in the coming months.