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From Home Furnishing Business
Tempur Sealy Q4 Sales Jump 28.6%; Net Income Rises 21.5%
February 22,
2022 by HFBusiness Staff in Business Strategy, Industry 
Mattress major Tempur Sealy International wrapped up a record year in 2021 as worldwide sales jumped 28.6% to $1.36 billion in the fourth quarter, while net income rose a healthy 21.5 percent.
The sales increase was driven by an 18.9 percent increase in North American sales and an 82.1 percent jump in the international segment.
Gross margin dipped to 44.5 percent from 45.9 percent in the fourth quarter of 2020.
Net income totaled $175.8 million or 88 cents per share, compared with $143.2 million or 67 cents per share in the final quarter of 2020.
“This is the 10th of our last 11 quarters in which we have delivered double-digit sales and EPS growth,” said Scott Thompson, chairman and CEO. “We leveraged our strong market position and global operating scale to drive record sales and EPS results while navigating supply chain disruptions, a significant inflationary environment and Covid-related disruptions.”
“These past two years further solidified Tempur Sealy's position as a market leading, vertically integrated, omni-channel, global company with solid fundamentals in a growing category. We enter 2022 well-positioned to continue to grow sales and EPS double-digits."
For all of 2021, sales rose 34.1 percent to 4.93 billion. Full-year net income jumped 79 percent to $624.5 million or $3.06 per share.
For 2022, the company is projecting earnings per share of $3.65 to $3.85. Year-over-year sales growth is projected at 15 percent to 20 percent.