Search Twitter Facebook Digital HFBusiness Magazine Pinterest Google

Get the latest industry scoop


Daily News

From Home Furnishing Business

Tempur Sealy Reports Excellent Quarter For 2016

Tempur Sealy International, Inc. (NYSE: TPX), the world's largest bedding provider has reported its best quarter in the Company’s 20 year history for sales, adjusted EBITDA and adjusted EPS, for the second quarter that ended June 30, 2016.

With a reported increase of 5.2 % in net and Operating Income Growth of 93%, CEO Scott Thompson and the management team are gaining traction and building momentum toward the goals they have set.

Tempur Sealy International, Inc. Chairman and CEO Scott Thompson commented, "Thanks to the hard work of our more than 7,000 associates worldwide, the Company had an excellent quarter. We are gaining traction toward the goals we have set. Adjusted EBITDA and gross margins have increased for the third consecutive quarter, adjusted EPS is up 74%. We are improving operating leverage, continuing to invest heavily in our brands, expanding distribution, and successfully servicing our retailers and direct customers. By continuing to strengthen our iconic brands, drive higher ROIC and enhance our competitive cost position, we are positioning the Company well to deliver for our investors and other stakeholders for years to come."

As of June 30, 2016, the Company reported $137.9 million in cash and cash equivalents and $1.7 billion in total debt, as compared to $153.9 million in cash and cash equivalents and $1.5 billion in total debt as of December 31, 2015.The Company also updated its financial guidance and currently expects Adjusted EBITDA (1) to range from $525 million to $550 million. World headquarters for Tempur Sealy International, Inc. is in Lexington, KY.

Comments are closed.
Performance Groups
HFB Designer Weekly