Jul. 30 at 12:25 PM
$SNBR $6.06 -2.13. DAC (dollar average cost) (6)
$6.94 / last
$6.80 (7.22.25). EXIT
$10.00.
RETAIN POSITION / May ADD in near term.
UPDATE:
Cost Savings to Exceed Initial Targets While Maintaining Compliance with Debt Covenants
Reported net sales of
$328 million, down 19.7% compared with the second quarter of 2024
Delivered gross profit margin of 59.1%, flat versus the prior year
Reduced second quarter operating expenses by
$48 million, or 21%, year-over-year, before restructuring and other non-recurring costs
Reported net loss of
$25 million, inclusive of a
$13 million adjustment to valuation of deferred tax assets, compared to a net loss of
$5 million for the same period last year
Delivered adjusted EBITDA of
$24 million, down 17% versus the same period last year
Implementing
$130 million of cost savings for 2025, exceeding prior annualized target of
$80 million to
$100 million, before restructuring and other non-recurring costs; maintains compliance with debt covenants.
