Tempur Sealy Guidance Improves
Tempur-Sealy +3% after setting guidance ahead of expectations
Shares of Tempur-Sealy (NYSE:TPX) break higher after the company provides a guidance update.
Tempur-Sealy expects Q2 sales growth of -15% vs. -30% prior outlook and -32% consensus.
The company also anticipates recording at least $50M of unadjusted EBITDA in Q2 and to report a ratio of consolidated indebtedness less netted cash to adjusted EBITDA within the target range of 2.5X-3.5X.