Stock Track | Somnigroup International Plunges 5.33% in Pre-market After Q4 Sales Miss Estimates
Stock Track
Feb 17
Somnigroup International Inc (SGI) experienced a significant pre-market plunge, with shares dropping 5.33% during Tuesday's pre-market trading session.
The sharp decline followed the company's release of fourth-quarter financial results, which showed net sales of $1.868 billion falling short of the analyst consensus estimate of $1.931 billion. While the company reported adjusted earnings per share of $0.72, meeting expectations, investors reacted negatively to the sales miss.
The market's response highlights investor focus on revenue performance, with the sales shortfall overshadowing other positive aspects of the earnings report, including a 13% increase in the quarterly dividend to $0.17 per share.
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