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Stock impact report

Why Somnigroup (SGI) Stock Is Up Today [Yahoo! Finance]

Somnigroup International Inc. (SGI) 
Company Research Source: Yahoo! Finance
reported strong third-quarter financial results that beat expectations and raised its full-year guidance. The bedding manufacturer announced that its revenue grew by 63.3% year-over-year to $2.12 billion, surpassing analyst forecasts of $2.06 billion. The company's adjusted earnings per share of $0.95 also topped Wall Street's expectations of $0.86. This strong performance was driven by significant growth in its direct-to-consumer sales, which offset a miss in its wholesale segment. Adding to the positive news, Somnigroup increased its full-year adjusted EPS guidance to a midpoint of $2.68. The comprehensive earnings beat and improved outlook fueled investor confidence in the company's direction. Is now the time to buy Somnigroup? Access our full analysis report here What Is The Market Telling Us Somnigroup's shares are not very volatile and have only had 7 moves greater than 5% over the last year. Moves this big are rare for Somnigroup and indicate this news significantly impac Show less Read more
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